Uzbekistan recorded 110,100 real estate transactions between January and March 2026, a 48.4% increase from a year earlier, as stronger mortgage lending, rising household incomes and robust construction activity fueled continued growth in the country's housing market, according to a new Central Bank report.
Central Bank's Real Estate Market Analysis for the first quarter of 2026 show that economic growth, higher household incomes, and expanding mortgage financing contributed to stronger activity across the housing market.
Syrdarya region recorded the fastest annual growth in transactions at 67%, followed by Tashkent city with 64%, Andijan region with 56%, and Navoi region with 52%.
The Central Bank attributed the sharp increase in March transactions partly to the introduction of a new escrow payment system for property purchases from April 1, prompting many buyers and sellers to finalize contracts before the new rules took effect.
Mortgage lending also continued expanding during the reporting period, with banks issuing UZS 5.7 trillion ($445mn) in housing loans in the first quarter — 29% more than a year earlier. At the same time, real household incomes increased by 7.8%, further supporting demand for residential property.
Construction activity remained strong as well. Newly commissioned housing reached 3.3mn square meters during the quarter, representing a 6.6% annual increase, driven primarily by growth in individually built homes.
Housing prices also continued to rise. In March, prices on the primary market increased by 1.8% in Uzbek soums and 8.1% in US dollar terms compared to a year earlier. On the secondary market, prices rose by 3% in soums and 9.4% in dollars.
Earlier, it was reported that more than 125,000 residential property transactions had been completed in Uzbekistan between January and May 2026, up nearly 34.8% compared to the same period last year.
