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February 2009 periodical, is based on a descriptive statistics of a sample study of 587 available-for-sale apartments in Tashkent. The report focuses on average price deviation analysis as well as price frequency histogram where readers may find the most frequent offered prices for each apartment type.
By the observations of available-for-sale apartments, in February 2009 prices of apartments fell considerably-the highest fall since November 2008. By the results of the analysis, further price reductions in real estate are expected in coming months.
The report is available in
downloadable form as well as employed in author's article.
1-ROOM APARTMENTS
One room apartments have experienced fourth month consecutive price fall. On average 1-room apartments fell by 10.09% as compared to January 2009.
Price distribution frequency graph below tells that more and more apartments are becoming available at lower prices. Subsequently, average price in March is expected to decrease consonant to declining offer prices of 1-room apartments.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|
| $16,618.20 | $19,105.30 | $7,109.90 | $17,861.70 | -10.09% | -10.09% |
| Zone | Lower limit | Upper limit | Sthv | Mean | Change (%) | YTD (%) |
|---|
| I | $20,941.00 | $42,758.80 | $13,048.60 | $31,849.90 | -9.65% | -9.65% |
| II | $19,882.00 | $25,027.10 | $5,802.10 | $22,454.50 | +8.21% | +8.21% |
| III | $14,771.80 | $16,605.70 | $4,573.50 | $15,688.80 | -17.76% | -17.76% |
2-ROOM APARTMENTS
In January 2009, 2-room apartments were being offered at $25,000. In February, most frequent offer prices clustered at $20,000, which implies average price reduction in March.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|
| $27,068.80 | $30,431.20 | $12,026.00 | $28,750.00 | -8.87% | -8.87% |
| Zone | Lower limit | Upper limit | Sthv | Mean | Change (%) | YTD (%) |
|---|
| I | $44,082.90 | $51,657.80 | $9,574.20 | $47,870.40 | +3.89% | +3.89% |
| II | $32,114.00 | $39,174.80 | $11,751.00 | $35,644.40 | -12.58% | -12.58% |
| III | $21,416.10 | $23,068.20 | $4,704.00 | $22,242.10 | -22.72% | -22.72% |
3-ROOM APARTMENTS
3-room apartments repeat price trends observed in one and two room apartments. As compared to January 2009, where offers started at $17,000, in February prices launched at $15,000.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|
| $40,617.80 | $46,461.50 | $19,240.10 | $43,539.60 | -11.13% | -11.13% |
| Zone | Lower limit | Upper limit | Sthv | Mean | Change (%) | YTD (%) |
|---|
| I | $63,074.80 | $75,468.00 | $18,038.90 | $69,271.40 | -13.27% | -13.27% |
| II | $46,507.40 | $54,742.60 | $12,875.00 | $50,625.00 | -11.12% | -11.12% |
| III | $29,508.50 | $32,378.70 | $7,006.50 | $30,943.60 | -24.30% | -24.30% |
4-ROOM APARTMENTS
4-room apartments market constituted two trends. Offers in primary market trying to hold on to higher prices sluggishly decreased prices. However, in secondary market, prices fell more drastically as can be seen in the histogram below.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|
| $51,113.10 | $64,548.20 | $26,452.10 | $57,830.60 | -10.38% | -10.38% |
| Zone | Lower limit | Upper limit | Sthv | Mean | Change (%) | YTD (%) |
|---|
| I | $81,385.70 | $100,026.00 | $18,127.20 | $90,705.90 | -25.79% | -25.79% |
| II | $58,824.30 | $81,775.70 | $16,042.00 | $70,300.00 | -14.27% | -14.27% |
| III | $35,779.80 | $40,820.20 | $7,336.70 | $38,300.00 | -21.07% | -21.07% |
