BAKU, Azerbaijan, July 23
By Klavdiya Romakayeva - Trend:
The largest number of mortgage loans noted in Uzbekistan in June 2021 fell on Tashkent, Trend reports referring to the Center for Economic Research and Reforms (CERR).
According to the CERR, in June of this year, the number of real estate contracts concluded in Uzbekistan amounted to 21,500, which is 16.8 percent more than in May, when a slight decline was recorded compared to April.
Also, compared to June 2019 (14,300), the number of concluded real estate contracts increased by 50.6 percent. However, compared to June 2020, a decline of 36 percent (33,600) was recorded.
CERR reports that this is due to the fact that last year a breakthrough was recorded in the real estate market, due to the gradual softening of strict quarantine measures after the imposed lockdown, on the one hand, and simplification of the procedure for permanent registration, on the other.
At the same time, in June 2020, the number of real estate contracts in the country increased by 35.2 percent compared to June 2019 (14,300), while in Tashkent this figure (4,500 in June 2019) increased by 48.7 percent.
In the structure of regions, growth in comparison with May was observed in all regions of Uzbekistan. The highest growth rates were observed in Samarkand (31.7 percent), Fergana (27.1 percent), Namangan (26.2 percent), Jizzakh (25.7 percent) and Navoi (22.6 percent) regions.
In addition, CERR analysis shows that there is a significant correlation between mortgage lending and real estate sales. An increase in the number of mortgage loans by 10 percent leads to an increase in property sales by an average of 6.7 percent.
Also, the volume of mortgage loans provided to the population in 5M2021 amounted to 2.77 trillion soums ($261 million), while the number of these loans reached 21,100.
In terms of regions, the largest number of mortgage loans fell on the city of Tashkent (4,012), Fergana (2,122), Surkhandarya (1,782), Tashkent (1,524) and Andijan (1,508) regions.
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