Uzbekistan: Housing Prices Slowed in 2025, Sales Increased, Central Bank Reports
According to the Central Bank of Uzbekistan's analysis of the real estate market, the growth rate of housing prices in the country significantly decelerated in 2025. This analysis was presented in the "Financial Stability Review" for 2025. Despite the slowdown in price increases, market activity did not decrease. Instead, the number of housing purchase and sale transactions actually increased. This suggests an improvement in the affordability of housing for the population, enabling more people to buy homes.
The Central Bank's findings in Uzbekistan for 2025 indicate a divergence between housing price appreciation and transaction volume. A deceleration in price growth, coupled with an increase in sales, suggests that market dynamics may be shifting towards greater accessibility for buyers. This could be influenced by factors such as interest rate policies, increased housing supply, or a recalibration of buyer expectations. Understanding the interplay between these elements is crucial for assessing the long-term health and stability of the real estate sector, particularly as Uzbekistan navigates its economic development trajectory in the coming decade.
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