Price of secondary market in Tashkent increased in April

Business Materials 1 May 2012 16:15 (UTC +04:00)

Uzbekistan, Tashkent, May 1 /Trend D.Azizov/

The average price of housing in Tashkent amounted to $534 per square metre in April, decreasing by 1.7 per cent compared to March and 11 per cent higher than in April 2011, analytical centre Sion Research part of the real estate organisation Sion Group stated on Tuesday.

More than half of the proposals namely 63.2 per cent in April compared to 65.6 per cent in March accounts for the housing sector in the panel and solid homes.

The average bid price of apartments in brick houses increased by an average of 1.6 per cent last month, up to $577 per square metre compared to $568 in March and panel and the solid foundation houses by 1.9 per cent, to $490. The greatest increase in average prices was observed in the sector of apartments located in typical 4/5-storey panel (by two per cent, compared with March) and the nine-storey panel houses (by 2.2 per cent).

According to surveys of realtors, the average discount at the conclusion of sales contracts dropped to three per cent in April compared to four per cent in March, while the average real price of residential sales amounted to $504 per square metre which is approximately the same level as in February - $518.

The average price of housing in the economy class segment amounted to $30 per square metre in February (in March - $326) in the housing segment of the high price category is $953 per square metre (March - $941).

Average size of apartments for sale in April was 67 square metres as in March whilst the average offer price for the apartment sector is about $35.8 thousand (in March - $35.2 thousand).

More than 60 per cent of all proposals in the property market in April account for the apartment with an area of 40 to 80 square metres.

In particular, the housing sector ranging from 70 to 80 square metres had 17 per cent of the total market (in March - 16.4 per cent), 60 - 69 square metres - 15.6 per cent, 40 - 49 square metres - 15.1 per cent 50 - 59 - 13.1 per cent. Share suggestions for apartments with an area of 100 square metres and above remained at the level of March - 12.1 percent.

More than 65 per cent of apartments sold accounts for two and three bedroom apartments. Then, in descending order is one and four-room apartments. The sector of multi-room apartments (five or more rooms) accounts for 2.2 per cent of the total number of proposals in April.