Rise in Tashkent house prices

Business Materials 3 January 2012 13:05 (UTC +04:00)

Uzbekistan, Tashkent, Jan. 3 / Trend D. Azizov /

The average price of the housing supply in Tashkent was $531 per square metre in December 2011, or 1.1 per cent more than in November and 1.3 per cent more than in December 2010, the analytical centre Sion Research reported.

According to estate agents, the average discount rate while concluding purchase- sale contracts in December stayed at between three and four per cent. The average real price hit about $515 per square metre in December (in November - $ 510).

The average price in the economy, social class housing in December amounted to $330 per square metre, in November $329 and exceeds $1000 in the high category housing sector, up from $992 in November.

The average area of apartments put for sale in December was 71 square metres compared to 68 in November whilst the average price for the apartment sector was about $37,700 (in November - $35,700).

Almost 64 per cent of all sales in the property market in December fell to apartments ranging from 40 to 80 square metres.

The biggest increase was in the average prices of two and five-room apartments and more occurred in December, increasing by 1.4 per cent and 1.2 per cent compared to November.

The smallest increase was for one room apartments at 0.9 per cent. The prices on three-and four-room apartments per square metre in December showed a positive trend.

The average price of apartments situated in brick houses increased by 1.4 per cent to $572 per square metre. The increase in prices in the typical brick four and five-story buildings reached 1.8 per cent, brick houses of a special design was 1.3 per cent and modern homes, 1.2 per cent.

The prices in panel houses in December increased by 0.8 per cent, up to $488 compared to November.

Sion Research analysts stress that the average bid price of apartments located in the typical nine-storey panel houses, modern buildings and four-and five-storey buildings in December exceeded the level of January 2011 by 8.9 per cent, 8.1 per cent and 6.1 per cent, respectively.