Tashkent Housing Report, September 2009
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Prices of 1-4 room apartments in September rose unanimously, closely repeating August trend. Average price of 1-room apartments rose by almost 15%, the highest increase being observed in Zone 1. Price levels of 2-4 room apartments also increased, but at much lower rates.
Average price deviations of apartments, contrary to the price trend, narrowed, which could be an indicative of a normalizing real estate market in Tashkent.
1-ROOM APARTMENTS
Almost oblivion price level of 1-room apartments early in 2009 revived in zone 2, YTD constituting 17.05%. Average price deviation (Upper limit - Lower limit) of 1-room apartments narrowed from about $3,000 to $2100.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $18,809.60 | $20,942.60 | $7,250.80 | $23,149.00 | 14.84% | -22.15% |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $26,007.50 | $31,928.00 | $8,070.50 | $28,967.70 | 23.12% | -17.82% |
| II | $21,797.90 | $26,777.90 | $7,022.30 | $24,287.90 | 15.05% | 17.05% |
| III | $15,622.80 | $16,760.00 | $3,091.70 | $16,191.40 | 2.25% | -15.13% |
2-ROOM APARTMENTS
Average price of 2-room apartments increased by 8.76%, yet year-to-date change remains negative. Market for 2-room apartments approached a normal distribution, contributing to a more precise estimate throughout Tashkent.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $26,523.00 | $28,954.80 | $9,066.30 | $31,642.23 | 8.76% | -19.88% |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $36,525.20 | $42,218.40 | $8,781.50 | $39,371.80 | 7.34% | -14.55% |
| II | $30,256.60 | $34,793.40 | $7,092.70 | $32,525.00 | 14.37% | -20.23% |
| III | $22,166.90 | $23,892.90 | $5,108.00 | $23,029.90 | 3.89% | -19.99% |
3-ROOM APARTMENTS
September resulted in a 9.5% increment in average price level of 3-room apartments. Such output was a result of price increase in all three zones.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $37,756.60 | $42,278.30 | $15,021.40 | $44,216.03 | 9.50% | -28.30% |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $52,194.40 | $60,159.70 | $13,715.80 | $56,177.10 | 1.95% | -29.66% |
| II | $42,464.80 | $50,320.90 | $10,130.00 | $46,392.90 | 21.29% | -18.55% |
| III | $28,793.90 | $31,362.30 | $6,338.00 | $30,078.10 | 8.25% | -26.42% |
4-ROOM APARTMENTS
4-room apartments introduced some diversity in terms of price trend within zones. Zone 2 and Zone 3 had a marginal drop in price level as can be seen in the table below.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $45,366.00 | $52,909.40 | $15,700.50 | $52,416.63 | 2.36% | -38.58% |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $55,145.30 | $69,743.50 | $14,677.80 | $62,444.40 | 15.10% | -48.91% |
| II | $52,326.50 | $62,618.00 | $10,347.60 | $57,472.20 | -5.78% | -29.91% |
| III | $34,364.10 | $40,302.50 | $8,373.80 | $37,333.30 | -2.70% | -23.06% |
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 % |