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  • Kamila Abdulkhaeva, RB ASIA

Investing in Uzbekistan Real Estate market

Historically, Uzbek people do not have confidence in bank deposits, so people are actively looking for ways to invest their money in alternative instruments. One of the most reliable investments in our country is the purchase of real estate.

Indeed, the low interest rates that the bank offers do not even cover the level of real inflation, so for many people it’s simply unprofitable to keep their money in the bank deposit. Here developers come for help, offering home purchase at competitive prices and conditions.

What is the state of the current market?

As a rule, in large cities there is always some construction. Where there is a larger population, residential complexes are constantly being erected and square meters are being put on sale. This trend is especially relevant for Tashkent.

A unique situation has occurred in the capital. Due to the projects like "Tashkent City", "Olmazor City", "Yunusobod city" and the active reconstruction of the capital, the residential complexes grow like mushrooms after rain.

The cost of residential buildings in Yakkasaray district 1 sq. m, $

Although in the center housing prices are too high, in the outlying areas they are very attractive. For example, now in the Yunusabad district you can find an apartment in a new building, ranging from 5.2 million soums per sq. m. One bedroom apartment of 50 sq.m. costs starting from 3.9 billion soums. In the regions, the amount is even lower.

Such investments can afford many. That is why low-cost apartments diverge quickly. People buy them with far-reaching plans to sell at a higher price in the future and make money on the deal.


Before buying a home in a newly built residential complex with the aim of investing, you must carefully assess the risks and ask yourself a few questions:

1. How promising is the area and what are the plans for the development of its infrastructure: the construction of roads, kindergartens, clinics, schools, and so on;

2. How far the residential complex under construction is located from the business districts of the city where people usually go to work;

3. How much time will have to spend to get to the center / metro station / public transport stop;

4. Are there nearby industrial enterprises, waste incineration plants, former landfills and other “pleasant” objects (unfortunately, developers often build housing near such sites).

5. What is the rental price for similar apartments in the area?

It is also necessary to assess the consistency of the developer and its economic situation. There are times when the developer is in serious trouble, and the company cannot finish construction and goes bankrupt.

Why do you need to be so picky about liquidity of an object? Because after the end of construction, a large number of people at the same time want to sell their investment apartments, but because of the furious competition or the unattractive location of such housing, there may simply be no buyers. You will have to sell for a long time and, possibly, with a big discount.

How not to lose?

In order to profitably rent out or sell an investment apartment after completion of construction, it is better to choose areas with good transport accessibility, environmental conditions and developed infrastructure. Clients on such housing will always be. Such property is more expensive, but it has a higher liquidity. If you do not have time for analysis and market research, it is better to entrust it to professional realtors, but by no means to “black brokers”.

If there is money only for cheap square meters in remote areas, then you need to be prepared for the fact that a profitable investment at first glance may turn into a “headache” in the future. Perhaps you should consider alternative ways to invest. For example, invest in rapidly developing business areas, like IT technologies, or in stable and profitable companies.

And in order not to lose savings, at least in the first stage of an investor’s career, it is better to use the services of professionals who can competently advise and recommend a really profitable project with minimal risk.

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