Uzbekistan housing market in 2026: deals, completions, prices and mortgages in numbers

Uzbekistan registered 319,500 home sales in 2025 and completed 15.9 million m² of new housing. In the first half of 2026 three quarters of all mortgage lending went into new builds. In Tashkent, as of 28 September 2026, there are 28,842 apartments for sale and 19,861 apartments for long-term rent. Below are the official figures from the Central Bank, the statistics committee and the Tashkent city administration, side by side with live UyScan data.

A few local terms first. The primary market means new builds sold by developers, often before the building is finished; the secondary market is resale. The soum (UZS) is the national currency, and the official figures are mostly in soums, while UyScan shows prices in US dollars. The khokimiyat is the city administration.

What are the key numbers of Uzbekistan's real estate market in 2026?

Every official series is growing: home sales rose 15.8% in 2025, housing completions 7.2%, and mortgage lending in the first half of 2026 grew by almost 39%. Prices rose more slowly than deals and mortgages: over the year new builds gained 7.1% and resale 4.2%, according to the National Statistics Committee index.

Official figures come from Central Bank reviews, the National Statistics Committee index and Tashkent khokimiyat data, with links in the Sources block. UyScan rows: OLX and uybor listings as of 28 Sep 2026, with copies of the same apartment merged into one, which leaves 28,842 apartments for sale and 19,861 apartments for rent.

How many homes are bought and sold in Uzbekistan?

According to the Central Bank review, Uzbekistan registered 319,500 (gazeta.uz, 27 Sep 2026) home sales in 2025, 15.8% (gazeta.uz, 27 Sep 2026) more than in 2024. In Q1 2026 there were 110,100 (gazeta.uz, 27 Sep 2026) real estate sales, up 48.4% (gazeta.uz, 27 Sep 2026) on a year earlier.

March alone brought 47,300 (gazeta.uz, 27 Sep 2026) deals, more than twice as many as in March 2025. It was the last month before cashless payment for homes became mandatory, and the Center for Economic Research and Reforms (CERR), a state-run research center, links the spike to exactly that. More on the rule itself in the section on the new laws.

The Central Bank is not the only one counting deals. CERR keeps its own monthly series with its own method, and for the same March it counted 43,600 (gazeta.uz, 27 Sep 2026) home sales. That is why a deal count should always come with its source. How much of the total Tashkent accounts for and how the two series move month by month is covered in our article on home sales.

How much housing is being built?

The country completed 15.9 million m² (gazeta.uz, 27 Sep 2026) of housing in 2025, 7.2% (gazeta.uz, 27 Sep 2026) more than a year earlier. Q1 2026 added another 3.3 million m² (gazeta.uz, 27 Sep 2026), up 6.6% (gazeta.uz, 27 Sep 2026) on the previous year.

In the first half of 2026 Tashkent commissioned 151 apartment buildings (yuz.uz, 27 Sep 2026) with 11,270 apartments (yuz.uz, 27 Sep 2026) in them. These are figures from the city khokimiyat.

What gets completed and what is on sale are two different things. Tashkent listings currently include 13,877 apartments in new builds, 48% of all supply, and that includes apartments in buildings still under construction: developers advertise completion in 2027 and start selling off-plan as early as the excavation stage. How completions have changed and how they show up in listings is covered in our article on housing completions.

How are prices changing: dollars vs soums, new builds vs resale?

In dollars, housing is getting more expensive much faster than in soums. According to the Central Bank, in Q4 2025 new builds cost 5.7% (gazeta.uz, 27 Sep 2026) more than a year earlier in dollars but 1.3% (gazeta.uz, 27 Sep 2026) less in soums. Resale was up 7.9% (gazeta.uz, 27 Sep 2026) in dollars and 0.7% (gazeta.uz, 27 Sep 2026) in soums.

The gap persisted in 2026. In March new builds cost 8.1% (gazeta.uz, 27 Sep 2026) more than a year earlier in dollars and 1.8% (gazeta.uz, 27 Sep 2026) more in soums; resale was up 9.4% (gazeta.uz, 27 Sep 2026) and 3% (gazeta.uz, 27 Sep 2026). The exchange rate explains the difference: when the soum strengthens against the dollar, the dollar price of the same apartment rises faster than its soum price. If you earn or save in dollars, the dollar series is the one to watch. Details in our article on prices in dollars and soums.

The National Statistics Committee index for Q2 2026 points the same way. New builds were up 7.1% (spot.uz, 27 Sep 2026) year on year, resale 4.2% (spot.uz, 27 Sep 2026), apartments nationwide 5.5% (spot.uz, 27 Sep 2026), and Tashkent apartments only 3.9% (spot.uz, 27 Sep 2026): prices in the capital are rising more slowly than the national average. According to the publication, the index is based on listing prices, not transaction prices.

How much of the mortgage market goes to new builds?

Three quarters. Of the 13.1 trillion soums (gazeta.uz, 27 Sep 2026) in mortgages issued in the first half of 2026, 9.8 trillion soums (gazeta.uz, 27 Sep 2026), or 75% (gazeta.uz, 27 Sep 2026), went to the primary market.

Lending grew by almost 39% (gazeta.uz, 27 Sep 2026) on a year earlier, and the number of borrowers reached 42,600 (gazeta.uz, 27 Sep 2026). Tashkent took 4.01 trillion soums (gazeta.uz, 27 Sep 2026), about a third of the total. The average rate on mortgages funded by banks' own money was 20.1% (gazeta.uz, 27 Sep 2026), on loans funded from the national budget 16.8% (gazeta.uz, 27 Sep 2026).

The average loan was 308 million soums (gazeta.uz, 27 Sep 2026). At the Central Bank rate that is less than a third of the median apartment price in Tashkent: 29% (UyScan data as of 26 Sep 2026, listings: 28,902). The comparison is rough, since the average loan is nationwide and the median is Tashkent only. In 2025 as a whole banks issued 21.2 trillion soums (gazeta.uz, 27 Sep 2026) in mortgages, and a mortgage was involved in 22% (gazeta.uz, 27 Sep 2026) of home deals. What the average loan can buy is worked out in our article on mortgages for new builds.

What do Tashkent property listings show right now?

As of 28 September 2026, Tashkent has 28,842 apartments for sale, with a median price of $90,000 and a median of $1,400 per square meter. There are 19,861 apartments for long-term rent at a median $750 a month, which is UZS 8,869,050 at the Central Bank rate.

New builds make up 48% of sale listings. A square meter there costs $1,629, against $1,279 on the resale market, a difference of +27%. The same apartment is often listed several times: copies account for 35% of listings, and we count each apartment once.

These numbers do not contradict the official ones; they answer a different question. The Central Bank and the statistics committee show how prices changed over a quarter or a year. UyScan shows what sellers are asking today and how many apartments are on the market. Our price history starts on 28 August 2026, so we do not make year-on-year comparisons yet. Where our district medians differ from the official valuation and why is covered in our article on UyScan and official data.

Prices by district and number of rooms are on the apartment prices page, the price per square meter by district on the price per m² page, the gap between the two markets in new build vs resale, and rents on the rent prices page. Filter apartments in search, and the UyScan bot will send you new listings that match your filter.

What do the 2026 laws change?

Two rules change how a deal itself is done. Homes, new builds and resale alike, have been payable only by non-cash means since 1 April 2026 (lex.uz, 23 Sep 2026), so no cash changes hands between buyer and seller. And the Law on Realtor Activity comes into force on 8 November 2026 (lex.uz, 23 Sep 2026), replacing the 2010 law.

Intermediaries dominate the listings. By the platforms' own labels, private sellers post only 31% of apartments for sale and 8% of those for rent; the rest come from agencies, developers and other business accounts. How payment through the buyer's bank account works is explained in our article on cashless payment for an apartment.

How we calculated

• Official figures: Central Bank real estate market reviews for 2025 and Q1 2026, the Central Bank mortgage review for the first half of 2026, the National Statistics Committee price index for Q2 2026 and Tashkent khokimiyat data. We cite them via Gazeta.uz, Spot and Yuz.uz, with links in the Sources block. We do not give the nationwide completions figure for the first half of 2026, because we could not verify it in the primary source.
• UyScan: active OLX and uybor listings for sale and long-term rent as of 28 Sep 2026, copies merged, 11 districts of Tashkent, excluding Yangihayot. These are median asking prices, not transaction prices.
• The loan share was calculated by dividing 308 million soums by the median apartment price converted to soums at the Central Bank rate of 25 September 2026.
• Listing selection rules are described in the methodology. Medians by district, rooms and market can be downloaded as CSV from the open data section under a CC BY 4.0 license.