Housing rental market in the capital: prices for apartments with average repairs continue to decline

Specialists of the Institute of Macroeconomic and Territorial Studies (IMTI) under the Cabinet of Ministers of the Republic of Uzbekistan conducted an analysis of housing rental prices in Tashkent for February 2025. The study showed that the cost of renting an average renovated apartment continues to decline from November 2024, while prices for fully renovated 3 - and 4-bedroom apartments show an increase.

Lower prices for medium-sized apartments

In February 2025, rental rates for medium-sized renovated apartments continued to decline, which has been observed since October last year:

• 1-room apartment: $323 (-2.4% y-o-y ($331));
• 2-bedroom apartment: $393 (-5.2% compared to October last year ($414);
• 3-room apartment: $480 (-2.9% y-o-y ($494));
• 4-room apartment: $545 (-12.5% compared to October last year ($623)).

The most affordable rental offers for medium-sized renovated apartments were recorded in the following districts::

• Sergeli district (1-комнатная квартира – 297 долларов США, 2-комнатная квартира – 366 долларов США, 3-комнатная квартира – 415 долларов США, 4-комнатная квартира – 423 доллара США);
• Almazar district (1-room – $288, 2-room - $351, 3-room - $417, 4-room – $488).

The highest rental prices for medium-sized renovated apartments were observed in:

• Shaykhantakhur district (1-room apartment – $ 347, 2-room apartment – $ 462, 3-room apartment – $ 568, 4-room apartment – $ 694);
• Yakkasaray district (1-room – $ 383, 2-room – $ 511,
• 3-room – 646 USD, 4-room – 675 USD).

Price dynamics for fully renovated apartments

At the same time, rental rates for fully renovated apartments showed mixed dynamics:

• 1-room apartment: $420 (-0.6% compared to October last year ($422) );
• 2-room apartment: $592 (-1.1% y-o-y ($600));
• 3-room apartment: $857 (+2.8% y-o-y ($834));
• 4-room apartment: $1,160 (+3.8% compared to October last year ($1,118)).

The most affordable rental offers for fully renovated apartments were listed in:

• Sergeli district: 1-room – $323, 2-room – $417, 3-room – $517,
• 4-room apartment – $639.
• Uchtepa district: 1-room – $ 377, 2-room – $ 436,
• 3-room – 560 USD, 4-room – 586 USD.

The highest rental prices for fully renovated apartments were recorded in:

• Mirabad district: 1-room apartment – $ 485, 2-room apartment – $ 746, 3-room apartment – $ 1051, 4-room apartment – $ 1344;
• Shaykhantakhur district: 1-room – $515, 2-room - $748, 3-room – $1094,
• 4-room apartment – $1462.

Research methodology

Data for analysis was collected using web scraping from the platform olx.uz. The study used data for October 2024 (43.1 thousand ads), January 2025 (35.7 thousand ads) and February 2025 (37.5 thousand ads). To improve the accuracy of the analysis, the top and bottom 5% of price offers were excluded.

IMTI experts note that the decline in prices for medium-sized renovated apartments may be due to an increase in supply on the market, while the increase in the cost of renting fully renovated apartments is due to increased demand for high-quality housing.