Mortgages in Uzbekistan: bank rates and the monthly payment for a median apartment in each district

As of July 2026, a standard mortgage at an Uzbek bank costs 20% to 32% (spot.uz, 27 Sep 2026) a year, and the state programme 16–17%. The median asking price for an apartment in Tashkent is $90,000 (UyScan data as of 26 Sep 2026, listings: 28,902). With 20% down over 20 years, that works out at UZS 15.1 million a month at a 21% rate and UZS 17.2 million at 24%. Below is the same calculation for each of the 11 districts.

Two things to know before the numbers. Flats in Tashkent are advertised in US dollars, but mortgage limits are set in Uzbek soums (UZS), so we show payments in soums and converted the dollar prices at the Central Bank rate. And "median" means the middle of the market: half of the flats listed ask less, half ask more.

What are mortgage rates in Uzbekistan right now?

According to a July 2026 review by the news site Spot, compiled from the banks' own websites, 24 of 34 banks (spot.uz, 27 Sep 2026) offer mortgages, and the average advertised rate is about 24% a year. There are three kinds of loan: a standard mortgage at 20% to 32%, a reduced-rate programme at 19% to 25% and the state programme at 16–17%.

Loans that actually get issued come out cheaper than the advertised rates. Central Bank data reported by Gazeta show that in the first half of 2026, mortgages funded by banks' own money averaged 20.1% (gazeta.uz, 27 Sep 2026), down from 23.5% a year earlier. The two figures measure different things: one is what banks advertised on their websites in July, the other is the average across loans actually issued over six months.

Standard mortgage terms at the seven banks in the review:

Terms from the banks' websites as summarised in Spot's review of 31 July 2026 (in Russian). The self-employed get separate terms, usually with a larger down payment. Rates change, so check them with the bank on the day you apply.

What is the monthly payment on a median apartment in each Tashkent district?

At 21%, the payment on the median Tashkent apartment is UZS 15.1 million a month (about $1,280); at 24% it rises to UZS 17.2 million. The flat is listed at $90,000, and after 20% down you borrow UZS 852 million over 20 years.

UyScan worked example based on median asking prices in listings as of 26.09.2026; apartments in the sample: 28,902. Down payment 20%, 20-year term, equal monthly payments, Central Bank rate of 11,830.87 soums per dollar (cbu.uz, 27 Sep 2026). Insurance and bank fees are not included.

The gap between districts is more than twofold. The cheapest median flat is in Bektemir, on the south-eastern edge of the city: UZS 9.6 million a month at 21%. The most expensive is in central Mirabad, with Shaykhantakhur close behind: around UZS 24.0 million at 24%. The newer Yangihayot district is not in the sample, because OLX, the main listings site, does not list it separately.

By size: a one-room flat with a median price of $52,500 (UyScan data as of 26 Sep 2026, listings: 3,820) costs UZS 8.8 million at 21% and UZS 10.0 million at 24%; a two-room flat at $76,000 (UyScan data as of 26 Sep 2026, listings: 10,408) costs UZS 12.8 million and UZS 14.5 million. Local listings count every room including the living room, so a two-room flat usually has one bedroom.

The true cost of a long loan shows in the total. Over 20 years at 21%, the buyer of the median flat pays the bank UZS 3.6 billion, more than four times the amount borrowed. For comparison, the median rent in Tashkent is now $750 a month, or UZS 8,869,050; see rent prices for details. How many years it takes to save up the down payment is worked out in our article on saving for an apartment.

State programme, reduced rate or standard mortgage: what is the difference?

The state programme is the cheapest at 16–17%, but in Tashkent it lends no more than UZS 480 million, and only for flats in completed new buildings. The reduced-rate programme lends up to UZS 800 million for both new builds and resale flats. A standard mortgage has no hard cap but costs more.

Based on Spot's review, July 2026.

Now set those limits against real prices. With a loan of UZS 480 million and the minimum down payment, the flat can cost no more than about UZS 565 million, or $47,700 (UyScan data as of 26 Sep 2026, listings: 13,829). In the listings that leaves 735 of 13,829 (5.3%) new-build flats, and that count includes buildings still under construction, which the state programme does not finance. The median flat does not fit in any district: even in Bektemir it is listed at $57,000. By our calculation, the largest state programme loan over 20 years at the programme's top rate means a payment of about UZS 7 million a month, and the buyer covers the rest of the price in cash. Who qualifies and what fits under this limit is covered in our article on the state programme, and help with the down payment in the one on mortgage subsidies.

The reduced-rate ceiling, with 20% down, is much higher: UZS 1 billion, or about $84,500 (UyScan data as of 26 Sep 2026, listings: 28,902). That covers 12,852 of 28,902 (44%) flats in the listings: 55% (UyScan data as of 26 Sep 2026, listings: 15,073) of resale flats and 33% (UyScan data as of 26 Sep 2026, listings: 13,829) of new builds.

How big a down payment do you need?

Under the state programme the down payment is from 15%; in the other programmes it starts at 20%. For the median Tashkent flat, 20% down is UZS 213 million; in Bektemir it is UZS 135 million, in Mirabad UZS 297 million.

The self-employed and people who cannot document their income may be asked for 20–30% under the state programme. With a reduced rate, most banks ask 20–25%; for a standard mortgage the range is 20% to 50%. A bigger down payment sometimes lowers the rate: at Kapitalbank it is 26% with 20–25% down, 24% with more than 25% down.

What drives the rate: the Central Bank, the source of money, the borrower?

The Central Bank's policy rate is 14% (cbu.uz, 27 Sep 2026). It was left unchanged on 16 September 2026, and the next meeting is on 28 October 2026 (cbu.uz, 27 Sep 2026). We do not make forecasts. The Central Bank's decision changes what money costs banks, and that matters most for standard mortgages, which banks fund themselves.

The second factor is where the money comes from. In the first half of 2026, mortgages funded from the state budget averaged 16.8%, those funded by the Mortgage Refinancing Company 21.6%, and those from banks' own funds 20.1%. The average loan was UZS 308 million, only a little over a third of the loan on the median Tashkent flat.

The third factor is you. The rate depends on the down payment, the term and the kind of borrower: at some banks in Spot's review the rate rises with the term, and the self-employed get separate conditions.

What do banks ask of a borrower?

The borrower must be between 18 and 60 years old and prove their income with an official certificate. According to Spot's review, the basic set of documents is:

• an application;
• the passport or ID card of the borrower and of the guarantor;
• a certificate of income for the last 6 months, for the borrower and the guarantor;
• a preliminary sale and purchase agreement;
• the flat's cadastral documents (its record in the state property register).

Some banks offer a grace period of two months to two years, when you pay only the interest; under the state programme it is up to six months. The state programme does not cover a flat in a building still under construction; the options for that case are in our article on mortgages for new builds. In the first half of 2026, resale housing took 25% of all mortgage money lent.

How we counted

• Prices: median asking prices in UyScan listings as of 26 September 2026, 28,902 apartments in 11 Tashkent districts with duplicates removed. These are asking prices, not sale prices.
• Loan: price minus 20% down, converted to soums at the Central Bank rate for 25 September 2026. Annuity payment, meaning equal monthly instalments over 20 years, without insurance or fees.
• Rates: advertised by banks as of July 2026 according to Spot's review; averages for issued loans from Central Bank data reported by Gazeta. This is a worked example, not a bank offer and not investment advice.

Fresh district medians appear every morning on the apartment prices page, new builds are collected in Tashkent new builds, and you can look for a flat within your budget in search. The UyScan bot sends new listings that match your filter. UyScan is neither a bank nor an agency: we collect listings from OLX and uybor and do not lend money. If you quote this calculation, please credit it as "UyScan data (uyscan.uz) as of 26.09.2026".