December Sees Decrease in Tashkent Rental Prices
The rental prices for apartments in Tashkent decreased in the last month of 2023, according to a report by the Institute for Macroeconomic and Regional Studies. The analysis, which included more than 40,000 data points on rent prices for November and December, revealed that the offered rental prices for renovated apartments decreased by an average of 0.3% compared to November.
Specifically, the asking rent prices for one-bedroom apartments decreased by an average of 0.2% to $400, while the average rental prices for two-bedroom apartments ($443) decreased by 1% and the rental prices of three-bedroom houses ($515) decreased by 0.7%. However, average rental prices for four-bedroom homes increased by 0.7% totaling $594.
For houses in the fully renovated group, there was a decrease of 0.4% in the average rental prices offered. Citywide median rents for one-bedroom ($476) decreased 2 percent, while two-bedroom ($653) and three-bedroom ($782) decreased 0.3% and 0.4%, respectively. On the other hand, average rental prices for four-bedroom homes rose by 0.9% and amounted to $915.
The report provides valuable insight into the changing rental market in Tashkent and will be useful for both landlords and tenants alike. It will be interesting to see if this trend continues into the new year and what impact it will have on the housing market in the city.
