CMWP: the mortgage lending market is growing in Uzbekistan

Results of 2023

Commercial banks in Uzbekistan issued mortgage loans totaling 16.85 trillion UZS in 2023, a 17% increase compared to the previous year, according to the international consulting company Commonwealth Partnership Uzbekistan (CMWP). A report on this research is available to Kursiv.

Analysts noted a rise in the total value of mortgage loans issued in US dollars, amounting to $1,439 million in 2023, a 10.6% year-over-year increase.

Approximately 60% of mortgage loans last year were allocated to the primary market, while the remaining 40% were used for secondary housing. This ratio shifted over the year, with the popularity of new apartments and houses dropping by 15%.

In 2022, the share of mortgage agreements accounted for 28% of all transactions in the primary and secondary markets.

Source: Kursiv