In March 2026, Uzbekistan's real estate market experienced a sharp surge in activity, according to a review by the Center for Economic Research and Reforms (CERR). The volume of housing purchase and sale transactions reached 43,600, a 47% increase compared to February (29,700). This marks a new record for the entire observation period.
Experts attribute this dramatic rise partly to the transition to escrow account settlements, which came into effect on April 1. The new rules stimulated demand and may have prompted some transactions to be moved forward from April to March. The previous peak was recorded in June 2020 (about 34,000 transactions), when the residence permit requirement for buying housing in Tashkent was abolished.
On an annual basis, the market more than doubled: transaction numbers rose from 20,400 in March 2025 to 43,600. Growth was observed in all regions of the country. The highest growth rates were recorded in Syrdarya (+64.6%), Jizzakh (+73.2%), and Namangan (+63%) regions.
Nearly 34% of all transactions occurred in Tashkent city. In the capital, the number of transactions increased by 44% in one month, reaching approximately 12,800. In Tashkent region and the capital itself, growth ranged between 40-50%.
In March, secondary housing market prices rose by 0.4% month-on-month and by about 10% year-on-year. The most significant price increases were recorded in Syrdarya (+22%), Samarkand (+18.7%), and Andijan (+17.6%) regions. Samarkand region ranked second in housing cost after the capital, at approximately $909 per square meter.
Some regions experienced price declines: Namangan (-4.6%), Fergana (-1.5%), Kashkadarya (-1.1%), Khorezm (-0.7%), and Karakalpakstan (-0.7%). However, on an annual basis, prices rose in all regions.
In Tashkent, the average price per square meter on the secondary market increased by 5% year-on-year to $1,124. The fastest price growth was in Mirobod (+7.3%), Mirzo Ulugbek (+7.2%), and Chilanzar (+6.9%) districts. On the primary market, annual growth reached 8.8%, led by Mirzo Ulugbek (+15.5%), Mirobod (+14.9%), and Yunusabad (+14.6%) districts.
In March, the average rental price in Tashkent was about $8.9 per square meter, up 2.7% from February and 10.8% from a year earlier. The highest rates remained in central districts (around $11). The fastest annual rental growth was recorded in Yashnabad (+18.9%), Mirzo Ulugbek (+14.3%), and Yakkasaray (+12.5%) districts.
Source: www.gazeta.uz