Accommodation in Tashkent falls in price by 0.8 per cent in March

Uzbekistan, Tashkent, April 2 / Trend D. Azizov /

In March 2012 the average price of housing in Tashkent was $525 per square meter, which is 0.8 percent lower than in February and 7.8 percent higher than in March 2011, information-analytical center of Sion Research of real estate organization Sion Group said.

According to surveys of real estate agents, the average discount while signing contracts of sale in March was four percent against four - five per cent in February, while the average real price of residential sales amounted to $504 per square meter, which is approximately the same level as in February - $505.

The average offer price in the segment of economy-class housing in February amounted to $326 per square meter (in February - $330), in the segment of high-priced residency - $941 per square (in February - $1,002).

In general, the March decline in average prices in the segment of expensive housing was about six percent compared to February, while prices for apartments of low price category declined during the same period by only 1.2 percent.

Average area of apartments for sale in March, was 67 square meters against 69 in February, the average offer price for the apartment sector - about $35,200 (in February - $36,500).

Nearly 60 percent of all proposals in the property market in March accounted for apartments ranging from 40 to 80 square meters.

Most of the offers, namely 16.4 percent, fell to apartment sector, with an area of 70 to 80 square meters (in February - 19.3 per cent), offering apartments of 40-49 square meters - 15.1 percent (16.3 percent) , 50-59 square meters - 14.9 percent (13.5 percent) and 60-69 square meters - 14.5 percent (9.6 percent). The share of apartments with larger area (100 square meters and above) declined to 12.1 percent against 16.2 percent in February.

According to analysts of Sion Group, decrease in number of apartments on the market with increased area is a testament of delay of release to real estate market of apartments, mostly purchased for investment purposes.

In residential real estate market of the capital in March, more than half (65.6 percent) fell to housing sector in panel and solid homes. The share of such apartments for sale, noticeably increased (in December 2011, the figure was 59.4 per cent of the market, in January - 61.5 percent, in February - 64.2 per cent).

The average bid price of apartments in brick houses fell in March by 0.7 percent - to $568 against $572 per square meter in February, panel and solid houses - 0.8 percent - to $481 per square.

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