Tashkent Housing Report, March 2009
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March 2009 proved a third consecutive major decline in apartment prices in Tashkent. Such states the statistical analysis based on 697 available-for-sale apartment prices that persisted throughout March 2009. Year-to-date change of all apartments types in study roughly decreased by 24%, whereas compared with the previous month, the prices slashed 15.4% in March.
March 2009 report statistical analysis summary is also available in downloadable form.
1-ROOM APARTMENTS
Average price deviation of 1-room apartments in Tashkent in March 2009 was confined to a lower range $14,161.30 - $15,938.70 as compared with February 2009. Average price also declined 15.74% with regards to the previous month. Such an outcome is attributed to the fact that prevailing number of 1-room apartments became available at lower prices in the period, which can be depicted in the histogram below.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $14,161.30 | $15,938.70 | $5,939.40 | $15,050.00 | -15.74% | -24.24% |
By the divisional study of 1-room apartments in Tashkent, the highest YTD change occurred in zone 3, where average price descended from almost $18,000 to $14,000 as can be seen in the table below.
| Zone | Lower limit | Upper limit | Sthv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $24,200.00 | $36,113.00 | $19,629.90 | $30,156.50 | -5.32% | -14.45% |
| II | $17,040.50 | $22,292.80 | $4,742.20 | $19,666.70 | -12.42% | -5.22% |
| III | $13,475.50 | $14,636.10 | $3,669.10 | $14,055.80 | -10.41% | -26.32% |
2-ROOM APARTMENTS
A similar trend can be observed in 2-room apartment prices. Average price of 2-room apartments in March 2009 throughout Tashkent deviated between $22,736.50 and $25,070.80. Most frequently offered sales prices descended. YTD change of 2-room apartments underwent a bit over 24% cut.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $22,736.50 | $25,070.80 | $9,313.10 | $23,903.60 | -16.86% | -24.23% |
| Zone | Lower limit | Upper limit | Sthv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $35,846.90 | $43,795.90 | $10,249.90 | $39,821.40 | -16.81% | -13.58% |
| II | $25,339.80 | $35,141.70 | $12,389.00 | $30,240.70 | -15.16% | -25.84% |
| III | $20,011.90 | $21,370.40 | $4,771.80 | $20,691.10 | -6.97% | -28.11% |
3-ROOM APARTMENTS
Average price of 3-room apartments in Tashkent declined to $36,413, which is almost 26% cut as compared with the beginning of the year. Most frequently occurring sale offers ranged between $20,000 to $35,000, whereas prevailing sale offers in February 2009 aligned between $23,000 to $45,000.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $34,310.70 | $38,515.30 | $15,675.50 | $36,413.00 | -16.37% | -25.67% |
| Zone | Lower limit | Upper limit | Sthv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $52,619.20 | $67,832.40 | $20,737.60 | $60,225.80 | -13.06% | -24.59% |
| II | $43,073.10 | $49,779.80 | $9,610.70 | $46,426.50 | -8.29% | -18.49% |
| III | $28,081.50 | $30,457.50 | $7,388.20 | $29,269.50 | -5.41% | -28.40% |
4-ROOM APARTMENTS
Average price of 4-room apartments decreased 12.56%. Lower and upper limit range of apartment prices in Tashkent in March 2009 did not differ from average price deviation in February 2009. However, relatively normally distributed offer prices in March 2009 imply that apartments available in the primary market faced relatively more cut in percentage wise.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $44,773.60 | $56,359.70 | $22,425.10 | $50,566.70 | -12.56% | -21.64% |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $69,726.60 | $96,427.30 | $22,092.50 | $83,076.90 | -8.41% | -32.03% |
| II | $44,697.20 | $61,874.20 | $9,286.40 | $53,285.70 | -24.20% | -35.02% |
| III | $36,041.30 | $43,008.70 | $10,892.80 | $39,525.00 | 3.20% | -18.55% |
Disclaimer
The information provided in this website is offered for general purposes only; In no way are any of the materials presented meant to be a substitute for a precise estimate by a qualified appraiser. Reports are presented with a certain confidence level, while we endeavor to keep the information up to date and correct we make no representations or warranties of any kind.
Market summary
| # rooms | Price | Change |
|---|---|---|
| 1-room | $ 18,241 | -1.07 % |
| 2-room | $ 24,510 | 0.19 % |
| 3-room | $ 35,571 | -2.90 % |
| 4-room | $ 44,299 | 5.69 % |