Tashkent Housing Report, December 2009
January 9, 2010 7:44 PM
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Average apartment prices in Tashkent downshifted in December 2009. 1-room apartments dipped 13%, 2-room apartments dropped 10%, 3-room apartments 11% and 4-room apartments by over 9%.
Average price per sq.m of 1-room apartments in December 2009 fluctuated between $497 - $525 throughout Tashkent, and that of 2-room apartments between $505 - $531, 3-room apartments $526 - $558, finally 4-room apartments between $498 and $546 (with 95% confidence interval).
The December analysis reveals that the average price range per sq.m in zone 1 (between $694-$724 with 95%) was almost 20% more expensive than in zone 2 and exceeded that of zone 3 by 60%.
In conformity with the scatterplot to the left, most sale offers of apartments in the secondary market in Tashkent were densely clustered within a region, where greater share of sale offers were below $40,000 and price per sq.m of the majority apartments below $600. This might as well imply that apartments with less than 67 sq.m were prevailing sale offers in December 2009.
Correlation between price of an apartment and price per sq.m was strong in December 2009. 52% of prices of apartments in Tashkent could be explained price per sq.m. The scatterplot to the left illustrates a positive relation. Visually one can tell closely flocking apartment prices up to 70 sq.m. Though with increasing sq.m, prices of apartments were sparser allocated.
1 - ROOM APARTMENTS
Average price of 1-room apartments cut 13% in December. Lower and Upper limits also shrank. Prices in zone 1 remained almost inert declining by only 0.2%
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $18,331.70 | $21,236.76 | $6,473.30 | $19,784.23 | -13.44% | -33.47% |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $29,255.30 | $32,701.90 | $5,530.00 | $30,978.60 | -0.20% | -12.12% |
| II | $21,911.20 | $25,634.60 | $6,411.50 | $23,772.90 | -2.96% | 14.57% |
| III | $15,759.50 | $16,422.80 | $2,657.20 | $16,091.20 | -2.22% | -15.65% |
2-ROOM APARTMENS
2-room apartment prices dipped 10%. Standard deviation also decreased, which is an indicative of normalizing prices.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $27,399.80 | $29,739.71 | $9,096.90 | $28,569.75 | -10.18% | -27.66% |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $39,279.00 | $42,750.10 | $8,880.30 | $41,014.60 | -2.14% | -10.99% |
| II | $30,175.20 | $32,413.30 | $5,782.40 | $31,294.30 | -4.13% | -23.25% |
| III | $22,598.20 | $23,536.20 | $4,284.10 | $23,067.20 | -0.70% | -19.86% |
3 - ROOM APARTMENTS
3-room apartments dropped 11% in December 2009. Average price per sq.m deviation ranged between $527 - $559. In zone 1 average price per sq.m fluctuated within $687 - $736.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $39,028.00 | $43,025.04 | $13,525.90 | $41,026.52 | -11.33% | -33.47% |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $53,400.30 | $57,153.70 | $10,644.10 | $55,277.00 | -6.46% | -30.79% |
| II | $41,363.60 | $46,085.10 | $10,470.60 | $43,724.40 | -5.64% | -23.24% |
| III | $30,264.70 | $31,768.90 | $5,814.20 | $31,016.80 | 1.67% | -24.13% |
4 - ROOM APARTMENTS
Average price level of 4-room apartments slashed almost 10% approaching August 2009 price level. Average price per sq.m deviated between $499 - $546 throughout Tashkent. In zone 1 the range covered $683 - $787 per sq.m.
| Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|
| $45,176.30 | $49,659.40 | $15,453.20 | $47,417.80 | -9.68% | -44.44% |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $65,713.30 | $74,226.10 | $12,003.90 | $69,969.70 | 0.20% | -42.75% |
| II | $51,081.80 | $56,480.70 | $9,296.50 | $53,781.20 | -6.34% | -34.41% |
| III | $35,847.40 | $38,802.60 | $7,597.70 | $37,325.00 | -4.93% | -23.08% |
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 | $ 19,037 | -3.78 % |
| 2-room | $ 27,299 | -4.45 % |
| 3-room | $ 39,169 | -4.53 % |
| 4-room | $ 46,490 | -1.96 % |