Tashkent Housing Report, January 2010
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In a sample study of 1471 apartments, prices of 1-4 room apartments in Tashkent were softly marked down in January 2010.
Average price of 1-room apartments fell short by 3.8%, 2 and 3-room apartments by 4.5% each and finally 4-room apartments dropped almost 2%.
Average price per sq.m in zone 1 laid fit within $680 - $709, 17% higher than in zone 2, and 58% on top of that of in zone 3.
“All for one, and one for all” is not a mere movie phrase, but a summary note to the market trend that was observed in January 2010.
1 - 4 room apartments all, on average cut down slightly on prices. In addition, correlation between price and space also altered, as it looks more relaxed than it was in December 2009. According to regression analysis, 42% of apartments for sale followed a pattern of pricing per sq.m as opposed to 52% in December 2009.
Newly conducted analysis - GRM (Gross Rent Multiplier) reveals, that it takes you on average 9 years of relevant rent fees to pay up for 1-room apartment, 8.5 years for 2-room apartments, 6.5 years for 3-room apartments, and finally less than 4.5 years to purchase a 4-room apartment in the secondary market.
If we take a look at scatterplots above, we can see that most offered apartments were closely clustered at a region lower than $43,000, and price per sq.m up to $570.
1 - ROOM APARTMENTS
1-room apartments in January, toddled down. Average price range along with narrowing, shifted leftwards, implying more offers at lower rates. Average rent fee for 1-room apartments ranged between $156 - $214 (with 95% confidence interval).
| Lower limit | Upper limit | Mean | Change (%) | YTD (%) | Rent fee range* |
|---|---|---|---|---|---|
| $18,373.80 | $19,699.40 | $19,036.60 | -3.78% | N/A | 156 - 214$ |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $26,538.90 | $30,279.30 | $6,151.5 | $28,409.10 | -8.29% | N/A |
| II | $21,483.00 | $24,707.10 | $6,294.3 | $23,095.10 | -2.85% | N/A |
| III | $15,813.90 | $16,618.50 | $3,123.6 | $16,216.20 | 0.78% | N/A |
2 - ROOM APARTMENTS
Prices of 2-room apartments were relatively more normally allocated, as one can see in the histogram below. Average price range also shrank, representing normalized distribution of prices.
| Lower limit | Upper limit | Mean | Change (%) | YTD (%) | Rent fee range* |
|---|---|---|---|---|---|
| $26,593 | $28,004.4 | $27,298.7 | -4.45% | N/A | 239 - 302$ |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $38,147.90 | $40,892.50 | $6,880.5 | $39,520.20 | -3.64% | N/A |
| II | $29,345.80 | $31,633.60 | $5,675.7 | $30,489.70 | -2.57% | N/A |
| III | $22,301.70 | $23,197.10 | $4,159.6 | $22,749.40 | -1.38% | N/A |
3 - ROOM APARTMENTS
Most offered prices of 3-room apartments were within $28,000 and $50,000. Average rent fees of 3-room apartments ranged between $297 - $398.
| Lower limit | Upper limit | Mean | Change (%) | YTD (%) | Rent fee range* |
|---|---|---|---|---|---|
| $37,900.7 | $40,436.7 | $39,168.7 | -4.53% | N/A | 297 - 398$ |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $52,337.90 | $56,056.90 | $10,066.1 | $54,197.40 | -1.95% | N/A |
| II | $42,554.80 | $47,206.50 | $10,977.2 | $44,880.70 | 2.64% | N/A |
| III | $28,880 | $30,225.1 | $5,199.1 | $29,552.6 | -4.72% | N/A |
4 - ROOM APARTMENTS
Average price of 4-room apartments declined the least. Average price range narrowed by almost $1000.
| Lower limit | Upper limit | Mean | Change (%) | YTD (%) | Rent fee range* |
|---|---|---|---|---|---|
| $44,224.5 | $48,756.3 | $46,490.4 | -1.96% | N/A | 284 - 454$ |
| Zone | Lower limit | Upper limit | Stdv | Mean | Change (%) | YTD (%) |
|---|---|---|---|---|---|---|
| I | $63,060.1 | $71,905.4 | $11,627 | $67,482.8 | -3.55% | N/A |
| II | $51,501.1 | $59,026.7 | $11,121.1 | $55,263.9 | 2.76% | N/A |
| III | $36,119.2 | $38,731.8 | $6,650.7 | $37,425.5 | 0.27% | N/A |
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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 % |