How to Pay for an Apartment in Tashkent in 2026

Buying an apartment in Tashkent is one of the most significant financial decisions a family can make. In 2026, buyers have three main payment paths: paying full cash directly to the developer, using a developer installment plan (rассрочка / nasiya), or taking out a bank mortgage (ipoteka). Each path has a very different cost structure, risk profile, and eligibility requirement.

This report — published by Ayvon.uz, Uzbekistan's independent real estate marketplace — breaks down each option in detail, explains what Tashkent's leading developers actually offer today, and helps buyers make the most informed decision for their situation.

⚠ Prices and terms change frequently. Always verify current conditions directly with the developer or bank before signing any agreement.

Part 1: The Three Ways to Buy a New-Build Apartment in Tashkent

1.1 Full Cash Purchase (To'liq To'lov / Единовременная оплата)

Paying the full apartment price upfront — without installments or a mortgage — is the simplest and cheapest way to buy. Developers in Tashkent almost universally offer a cash discount ranging from 5% to 15% off the listed price when the buyer pays 100% at signing.

This method eliminates monthly payment obligations, interest exposure, and construction delivery risk (in the sense that you are not locked into paying for a property that might be delayed). However, it requires substantial liquidity and is primarily used by investors or buyers with foreign savings.

• Best discount: typically 5–15% off the listed m² price

• No monthly obligations — no interest, no schedule

• Fastest registration process — title is transferred sooner

• Requires full capital upfront — not suitable for most families

• Carries construction risk if the developer delays delivery

✓ On a 60 m² apartment priced at $1,200/m² ($72,000 total), a 10% cash discount saves $7,200 — more than many months of installment interest.

1.2 Developer Installment Plan (Rассрочка / Nasiya)

A developer installment plan is a direct payment agreement between the buyer and the construction company — no bank is involved. The buyer pays a down payment (avans / boshlang'ich to'lov) and then makes fixed monthly payments until the property is fully paid off or until delivery.

In Tashkent's market, most developer installment plans run 1 to 5 years. Some government-linked projects offer up to 20 years. The best plans carry 0% interest and are structured at the foundation (kotlovan) stage, where units are cheapest. Once construction is complete and the kadast (cadastral title) is issued, prices rise by 20–40%.

• Down payments: typically 10–30% of total price

• Tenure: 12 months (short-term projects) to 20 years (New Tashkent projects)

• Interest: 0% on best plans, some developers add a 5–10% markup into the price

• No bank involvement — simpler documentation

• Risk: developer insolvency, construction delay, price indexation clauses

⚠ Some developers advertise '0% interest' but build a price premium into the installment price vs the cash price. Always compare the cash price vs total installment payments to calculate your true cost.

1.3 Bank Mortgage (Ipoteka / Ипотека)

A bank mortgage is a loan from a licensed Uzbek bank to purchase a completed or under-construction apartment. The bank pays the developer directly; the buyer repays the bank over time with interest.

As of March 2026, mortgage rates in Uzbekistan range from 17% to 28% per year depending on the bank, loan type, and borrower profile. The government-subsidized program offers lower rates of 17–19% annually, but the maximum loan amount under this program is capped at 480 million soum for Tashkent buyers — often insufficient to cover the full apartment price.

• Standard mortgage rates: 22–28% per year (24 banks offer mortgages)

• Government льготная (subsidized) mortgage: 17–19% per year

• Down payment: minimum 15–30% depending on the bank

• Loan tenure: up to 20 years

• Requires documented income — challenging for self-employed buyers

• The apartment itself serves as collateral (залог)

⚠ At 24% annual interest on a 10-year mortgage, a buyer effectively pays for the apartment twice. On a 200 million soum loan, the total repayment exceeds 400 million soum. Developer installment plans — even with a small price premium — are almost always the better deal.

Part 2: Developer Comparison — Payment Terms in 2026

Below is a summary of payment conditions offered by the six major developers referenced in this report. Note that terms change per project phase and promotion period.

* Bashkent's 10% down payment was a launch-day promotional price (February 2026). Standard terms may differ.

NRG BI Group

NRG BI is the largest active developer in Tashkent by number of delivered projects. In 2025 alone, the company completed 15 residential complexes. Following a November 2025 agreement, Kazakh developer BI Group formally acquired NRG's shares, and the brand continues as NRG BI under BI Group's local management.

Most of NRG BI's current active projects — including NRG Jomiy (Almazor), NRG Yunusobod, and Yangi Baxt — are listed without installment plans (без рассрочки) on aggregators. This is typical for NRG BI: they often sell projects quickly in early stages and then shift to full-price sales as construction progresses. For installment terms, buyers must contact the sales team directly.

• Projects in Mirzo-Ulugbek, Yunusabad, Yashnabad, Almazor, Bektemir districts

• Price range: 14,730,000 – 25,040,000 soum/m² depending on class and project

• Contact: +998 71 200-13-60 (call 1360)

Apex Development — Mirabad Square

Apex Development's flagship project, Mirabad Square, is a premium mixed-use microdistrict in central Tashkent, developed in partnership with British architecture firm Chapman Taylor. Delivery is expected Q4 2028.

Apex offers two financing tracks. Their standard plan requires a minimum 15% down payment with installments up to 3 years. More interestingly, in partnership with Apex Moliya, they launched Nasiya Savdo — an Islamic finance product that allows buyers to purchase under sharia-compliant terms with no hidden interest, transparent pricing, and a fixed payment schedule. A separate Apex Bank promotion also offered a 0% installment option.

• Standard plan: 15% down, up to 36 months

• Nasiya Savdo: Islamic financing, no hidden interest, documentation-transparent

• Apex Bank 0% promo: available on selected units (limited)

• Contact: +998 55 055-55-55 | Avliyo-Ota St., 124

Golden House

Golden House is one of Tashkent's most prolific developers with over 10 years of market presence and 22 verified projects. In 2025, the company delivered more than 1,500 apartments; in Q1 2026 alone, over 1,400 more were handed over. Their portfolio spans comfort to premium class across Yashnabad, Mirabad, Mirzo-Ulugbek, and Yangihayat districts.

Golden House advertises 0% interest installment plans (беспроцентная рассрочка) across most active projects. Installment periods vary by project: their O'z Makon project offers 24-month plans, Infinity offered 12 months, and the Greenwich complex had 6-month plans with 30% down payment. They also offer bank mortgage partnerships including a 0% partner mortgage on Assalom Sohil.

• 0% interest installment on most projects

• Down payments: 30% (short plans) to standard terms per project

• Installment periods: 6 to 24 months across current portfolio

• Contact: +998 78 150-11-11 | goldenhouse.uz

Bashkent Development

Bashkent is a newer comfort-class entrant to the Tashkent market. Their first project, Zhiloy Kompleks Bashkent (Yashnabad district, ul. Dzharkurganskaya, 47), opened sales in February 2025 with a high-profile promotion: buyers could purchase on installment with just a 10% down payment on the launch day. The special price at 100% prepayment was 8.4 million soum/m².

The complex spans 20 hectares with 16-story buildings, Samsung dual-circuit eco-boilers, and THERMO 7000 premium windows. Phase 1 delivery is targeted for Q4 2026, with later phases through Q4 2028.

• Launch promo: 10% down payment (may have changed — confirm directly)

• 100% cash price at launch: from 8.4 million soum/m²

• Comfort class, 20-hectare complex in Yashnabad

• Contact: +998 78 148-55-55 | bashkent.uz

New Tashkent & Sharq Bahori

New Tashkent is one of the most ambitious urban development projects in Central Asian history — a planned city extension southwest of central Tashkent. The project includes residential clusters, twin towers (Tashkent Twin City Towers), a crafts quarter, and 21 km of new tram lines. New Tashkent emphasizes that it is a social project for ordinary citizens, not an elite enclave.

Sharq Bahori is the centerpiece residential cluster within New Tashkent's core, covering 1.8 million m² with 260 blocks, 13,879 residential and 1,121 commercial units, and 100,000 m² of green space. Designed around a '15-minute city' concept, residents will have universities, theaters, a national library, and parks within walking distance.

Financing at Sharq Bahori is among the most accessible in Tashkent: down payment from just 15%, with installment plans up to 20 years. The project is also eligible for льготная (subsidized government) mortgage through the National Bank of Uzbekistan, with rates as low as 17%.

• Down payment: from 15%

• Installment: up to 20 years — the longest available in Tashkent

• State-supported льготная ipoteka available via NBU

• Contact: +998 55 901-22-22 | sharqbahoriuylari.com

Part 3: Full Comparison — Which Payment Method Is Right for You?

When to choose Full Cash

• You have liquid capital or foreign currency savings

• You want a 5–15% price discount and immediate title registration

• You are investing and want a clean, unencumbered asset

• You distrust the developer's ability to deliver — paying cash gives you leverage

When to choose Developer Installment

• You have 15–30% for a down payment but not the full amount

• You want to avoid bank documentation requirements (income proof, collateral)

• You are buying at the foundation stage for the best price

• You are a self-employed buyer or business owner without formal salary history

• The developer offers 0% interest — making it nearly equivalent to cash spread over time

✓ The sweet spot: buy at котлован (foundation stage) with a developer installment plan. Prices are 20–40% lower than after delivery, and you lock in a fixed payment schedule. By the time you finish paying, your asset has typically appreciated.

When to choose Bank Mortgage

• You are a salaried employee with documented income and a stable employer

• The developer doesn't offer a long enough installment plan for your needs

• You qualify for the government льготная program (17–19% rate, capped at 480M soum in Tashkent)

• You are buying a completed secondary-market apartment (not a new-build)

⚠ With bank mortgage rates averaging 24–26% in 2026, most buyers are significantly better served by developer installment plans — even when the developer builds a small price premium into the installment price. Always calculate the total repayment cost before signing.

Part 4: Key Questions to Ask Before Signing

Whether you choose cash, installment, or mortgage, ask every developer these questions before signing any agreement:

1. Is the price fixed or indexed to USD or inflation? Some contracts allow developers to adjust prices if the soum depreciates.

2. What happens if delivery is delayed? Check the penalty clause (pen'ya) — the developer should pay compensation per day of delay.

3. Is the land title (hujjat / prav) clean? Confirm the developer holds legal rights to the land, not just a building permit.

4. When is the kadastr (title deed) issued? Some developers delay title registration after delivery.

5. What is the exact delivery date and which phase is your block in? Large projects like Sharq Bahori have multiple phases spanning 2026–2028.

6. Is propiska (residential registration) possible in this complex? This matters for school enrollment and official residency.

7. For bank mortgages: what is the early repayment policy? Can you pay off early without penalty?

Part 5: Glossary of Key Terms

Understanding the terminology used in Tashkent's real estate market is essential when comparing offers across developers and banks.

Conclusion

In 2026, the developer installment plan remains the most practical payment method for the majority of Tashkent apartment buyers. With bank mortgage rates between 22% and 28% annually, the cost of bank financing is prohibitively high for most families. Meanwhile, developers like Sharq Bahori, Apex Development, Golden House, and Bashkent are competing aggressively on payment terms — offering 0% interest plans, down payments as low as 10–15%, and tenures stretching up to 20 years.

For buyers with available capital, the full cash purchase remains the most financially efficient option — unlocking discounts of 5–15% and eliminating monthly payment obligations. For investors, buying at the foundation (kotlovan) stage with a developer installment plan combines the best of both worlds: low entry price and a spread-out payment schedule.

The single most important decision: compare the total cost across all three paths — not just the monthly payment or headline interest rate. A '0% installment' plan at a 10% price premium may cost less than a 'subsidized' bank mortgage at 17% over 10 years.

Ayvon.uz tracks payment conditions across Tashkent's new-build market in real time. For current listings, developer contacts, and side-by-side comparisons of ongoing projects, visit ayvon.uz.

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