Tashkent Housing Report, August 2009
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After a two-month price raise, an August statement in the housing estate imparts a temporary price bubble that occurred in June and July. 1 to 4 room apartments in Tashkent dropped in price unanimously. The major slash in prices took place in Zone 1, while Zone 3 manifested relatively moderate changes. Since Zone 2 is under the pressure of the conveying of infrastructural development from Zone 1, most unpredictable price changes can be observed in this Zone.
1-ROOM APARTMENTS
1-room apartments were most vulnerable to price decline in Zone 1 which was the mere contributor to the price slash. Meanwhile zone 2 and zone 3 defied price drop.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $17,163.70 | $20,249.30 | $5,195.20 | $20,157.67 | -7.60% | -32.21% |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $20,278.30 | $26,776.20 | $4,836.10 | $23,527.30 | -21.18% | -33.26% |
| II | $17,595.00 | $24,627.20 | $4,574.20 | $21,111.10 | 3.33% | 1.74% |
| III | $14,456.20 | $17,213.10 | $3,412.80 | $15,834.60 | 4.39% | -17.00% |
2-ROOM APARTMENTS
2-room apartments had the highest decline in August. Also the range between lower and upper limit remains almost unchanged as compared to the previous month, which indicates that prices of 2-room apartments are bearing almost unchanged correlation coefficient as compared to July.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $24,127.40 | $27,890.30 | $8,399.70 | $29,094.47 | -8.10% | -26.33% |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $30,138.80 | $43,218.40 | $11,326.60 | $36,678.60 | -6.11% | -20.40% |
| II | $25,406.10 | $31,468.90 | $5,688.80 | $28,437.50 | -16.43% | -30.26% |
| III | $20,897.10 | $23,437.60 | $4,422.40 | $22,167.30 | 1.28% | -22.98% |
3-ROOM APARTMENTS
As can be observed in the histogram below, the most frequent offer price range shifted rightwards. This could as well imply a possible increase in price in the month to come.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $31,668.00 | $39,089.50 | $12,638.40 | $40,378.73 | -7.11% | -34.52% |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $48,377.10 | $61,822.90 | $9,398.00 | $55,100.00 | -8.45% | -31.01% |
| II | $35,371.20 | $41,128.80 | $3,443.40 | $38,250.00 | -3.68% | -32.85% |
| III | $25,699.50 | $29,872.90 | $5,485.70 | $27,786.20 | -8.93% | -32.03% |
4-ROOM APARTMENTS
Besides sailing in the same boat with 1,2 and 3-room apartments, 4-room apartments look distinct in zone 2. Lower and upper limit in zone 2 is higher than in zone 1. Such swapping of prices can be only a temporary case, thus we will more likely be observing compensating effect, that would place zone 2 back to its plate.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $38,851.10 | $49,297.00 | $13,203.10 | $51,206.13 | -5.12% | -40.00% |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $40,850.00 | $67,650.00 | $8,421.20 | $54,250.00 | -22.43% | -55.61% |
| II | $42,206.00 | $79,794.00 | $11,811.00 | $61,000.00 | 13.87% | -25.61% |
| III | $33,653.60 | $43,083.30 | $9,782.10 | $38,368.40 | -0.08% | -20.93% |
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 % |