TASHKENT, Uzbekistan, November 11. The volume of mortgage loans allocated in Uzbekistan amounted to 12.21 trillion soums ($998,7 million) from January through September of 2023, Trend reports.
As per data provided by the Central Bank of Uzbekistan, the growth of mortgage loans amounted to 18.1 percent compared to the same period in 2022.
At the same time, the volume of loans for the acquisition of homes in the main market was 7.08 trillion soums ($579 million), while it was 5.13 trillion soums ($419,6 million) in the secondary market.
According to the Central Bank, the sum of mortgage loans hit 55 trillion soums ($4.5 billion) as of October 1, 2023, representing a 1.3-fold increase. Mortgage loans accounted for 41 percent of the total volume of loans made to individuals (124 trillion soums of $10.1 billion).
Meanwhile, the latest available data shows that the value of loans issued to individuals in Uzbekistan reached 105.1 trillion soums ($9.2 billion) as of March 2023.
According to the Central Bank, the value of loans issued to individuals has increased by 48.1 percent compared to the figure for March 1, 2022 (70.9 trillion soums, or $6.2 billion).
From the total value of loans issued to individuals in the corresponding period, mortgage loans accounted for 47.6 trillion soums ($4.1 billion), consumer loans for 25.5 trillion soums ($2.2 billion), microloans for 15.3 trillion soums ($1.3 billion), loans for business development for 14.1 trillion soums ($1.2 billion), etc.
At the same time, the value of loans issued to legal entities as of March 1, 2023, reached 292.4 trillion soums ($25.6 billion).