According to the Central Bank of Uzbekistan's report on 2025 results, housing rental prices across the country maintained moderate growth, while land plot prices in Tashkent experienced a significant decline. These trends provide key insights into economic stability and market dynamics in the region.

Data from the regulator shows that rental rates nationwide increased by 8.3% in dollar equivalent, up from a 2.4% rise in 2024. The dynamics remained stable throughout the year and intensified towards the end, reaching approximately 8-9% by December. In Tashkent, rental prices shifted from negative dynamics early in the year (down to -14%) to growth, ending the year with a positive indicator of around 6-7%.

The Central Bank noted in its commentary: "In Tashkent city, rental prices have been maintained at positive growth rates since the third quarter of the current year. At the same time, prices in soum terms have formed almost unchanged compared to last year, reflecting that the level of supply in the rental market is sufficiently covering demand." This indicates a positive shift after rental payments in the capital fell by 8.2% in 2024.

In the land plot segment in Tashkent, an inverse trend was observed: as of December, the price of 1 sotik (100 sq. m) of land amounted to 319 million soums, which is 9.4% lower than last year's level of 352 million soums. Prices peaked in the first quarter of 2024 (up to 364 million soums), then began to decline in 2025, dropping below 290 million soums in August and partially recovering by year-end.

The Central Bank attributed this decline to changes in the supply structure: the share of land plots in the city's outskirts increased by 22%, while offers in central districts decreased by 13%. This reflects structural shifts in the land market that could influence price dynamics in the future.

Source: www.gazeta.uz