Tashkent Property Market: What Prices Look Like Across Every District in Q2 2026
By Aziza Gafurova
From $850 per sqm in Bektemir to $2,121 in Mirabad — here's exactly what Tashkent real estate costs district by district, what you can earn from renting, and where the strongest yields are hiding in 2026.
If you're trying to buy, rent, or invest in Tashkent property right now, one question matters above all others: what does it actually cost, by neighbourhood, today?
Tashkent's real estate market is large, fragmented, and — until recently — partially opaque due to widespread cash transactions. That changed on April 1, 2026, when Uzbekistan mandated all property purchases go through the banking system. The result: more transparency, more data, and a clearer picture of where prices actually sit.
At Ayvon, we aggregated data from the Center for Economic Research and Reforms (CERR), Zamin.uz's May 2026 district breakdown, Daryo.uz's study of 1.7 million rental listings, and the Central Bank of Uzbekistan. Here is what the Tashkent market looks like, district by district, in Q2 2026.
The premium tier: where Tashkent's most expensive addresses are
Three districts form what you might call Tashkent's premium tier — Mirabad, Yakkasaray, and Mirzo-Ulugbek. These are the addresses that expat tenants, international investors, and the city's professional class compete for.
Mirabad is the undisputed price leader. Secondary market apartments reached $1,413 to $2,121 per sqm in April 2026, according to Zamin.uz. Rental rates average $10.90 per sqm monthly — the highest in the city — making it the preferred location for international tenants and Golden Visa buyers from the UAE and Turkey. Yet because purchase prices are so high, gross rental yields sit at a modest 7.0%. Mirabad is a capital preservation play, not an income play.
Yakkasaray — home to the Tashkent City development and major business centres — trades around $1,870/sqm with rents near $10/sqm. It offers slightly better yield than Mirabad at 6.4%, and benefits from new development inventory that has attracted significant foreign capital since the Golden Visa program launched in 2025.
Mirzo-Ulugbek, the tech and university district, offers the most interesting value proposition in the premium tier. Prices corrected sharply — down 7.6% year-on-year — to around $1,680/sqm. But rental demand from students, researchers, and young professionals remains strong at $9.20/sqm. The result: a gross yield of 6.6% at a price point that is meaningfully lower than Mirabad. For buyers who want a central address with room for value recovery, Mirzo-Ulugbek is worth watching closely in Q3 2026.
"The steepest price drops — Mirzo-Ulugbek down 7.6%, Yunusabad down 8.8%, Uchtepa down 9.7% — are not a sign of market failure. They are a correction from the speculative highs of 2021–2022, and they are creating the best buying conditions seen in half a decade."
— Ayvon Research Team, Q2 2026The mid-market: good yields, improving fundamentals
Shaykhantakhur, Yunusabad, and Yashnabad form the city's mid-market — districts with meaningful price corrections in 2025 that are now stabilising, combined with some of the stronger rental yields in the city.
Shaykhantakhur, in the historic centre, saw new-build prices fall 7.7% year-on-year, yet rental rates of $10.30/sqm (second highest in the city) pushed gross yields to 8.1% — well above the premium tier. If you want centre-of-city rental income rather than trophy asset value, Shaykhantakhur deserves serious attention.
Yunusabad is Tashkent's family suburb: metro access, international schools, large apartments. Prices fell 8.8% YoY to around $1,380/sqm, which, combined with $8.50/sqm rents, generates a 7.4% yield. Three-bedroom units here are among the highest-yielding larger apartments in the city.
Yashnabad is the district to watch. Prices fell 7.3% YoY to roughly $1,210/sqm — but studio and 1-bedroom units here now offer yields approaching 12%, the highest for small-format properties anywhere in Tashkent. The driver: proximity to the New Tashkent (Yangi Toshkent) satellite city project. As infrastructure develops along the southwestern corridor, early-stage buyers in Yashnabad are positioning ahead of a meaningful rerating.
The New Tashkent project — designed to house over one million people — is the single biggest structural driver of property values in Tashkent's outer districts right now. Yashnabad and Sergeli sit closest to the development corridor and are attracting increasing buyer interest as infrastructure timelines become clearer.
Full district breakdown: prices, rents, and yields
Here is the complete picture across all 11 districts, ranked by purchase price per sqm.
| District | Price/sqm | YoY | Rent/sqm/mo | Gross yield |
|---|---|---|---|---|
| MirabadPremium | $1,413–$2,121 | +1.7% | $10.90 | 7.0% |
| YakkasarayPremium | ~$1,870 | +0.4% | $10.00 | 6.4% |
| Mirzo-UlugbekValue | ~$1,680 | −7.6% | $9.20 | 6.6% |
| ShaykhantakhurHigh yield | ~$1,530 | −7.7% | $10.30 | 8.1% |
| YunusabadFamily | ~$1,380 | −8.8% | $8.50 | 7.4% |
| YashnabadEmerging | ~$1,210 | −7.3% | $7.20 | 7.1% |
| ChilanzarValue | ~$1,145 | −6.9% | $7.00 | 7.3% |
| AlmazarValue | ~$1,060 | +1.3% | $6.50 | 7.4% |
| UchtepaHigh yield | ~$980 | −9.7% | $6.80 | 8.3% |
| SergeliNew Tashkent | ~$915 | −0.9% | $6.20 | 8.1% |
| BektemirBudget | ~$850 | −1.2% | $5.50 | 7.8% |
What the rental market looks like right now
The Tashkent rental market has remained remarkably stable through major structural change. Despite the April 2026 cashless payment reform, which many feared would trigger rent increases as landlords tried to pass on banking costs, Daryo.uz's study of 1.7 million listings confirmed that average rents held steady at $550 per month for a 1-bedroom apartment.
Citywide, the average rental rate is $8.10 per sqm per month. The spread between the most and least expensive districts is wide:
Three things happening right now that matter for buyers
1. The cashless reform is cleaning up the market
Uzbekistan's April 1, 2026 mandatory cashless transaction rule is the most significant structural change to the property market in years. Previously, contracts routinely understated actual prices to reduce tax liability. Now, with all payments routed through banks, declared transaction values are rising to reflect reality. This is temporary friction — not a price drop — and it is laying the foundation for a more trustworthy market long-term.
In April 2026, active listings dropped 13.4% month-on-month to 44,500. This is not falling demand — it is sellers sitting out while they adjust to transparent pricing. Rental volumes, by contrast, rose +15.3% year-on-year to $294 million in Q1 2026, showing that underlying demand remains very strong.
2. The price correction in mid-market districts is flattening
The districts that fell hardest in 2025 — Mirzo-Ulugbek (−7.6%), Yunusabad (−8.8%), Uchtepa (−9.7%) — are showing signs of stabilisation in early Q2 2026. Almazar has already reversed, posting a +1.3% gain. A price floor appears to be forming across mid-market Tashkent, which historically precedes a 6–12 month window of buying opportunity before prices begin recovering.
3. Foreign capital is concentrating in premium districts
The 2025 Golden Visa program ($250,000 for a 5-year residency) and simplified foreign ownership rules have brought capital from the UAE, Turkey, and Europe into Tashkent's premium addresses. This is partially insulating Mirabad and Yakkasaray prices from the broader correction — and may be why Mirabad managed a +1.7% gain while most of the city fell. For local buyers, this creates competitive pressure in central districts and makes mid-market districts comparatively more attractive on value terms.
What this means if you're buying or renting in Tashkent now
If you're a first-time buyer with a budget under $150,000, Chilanzar, Almazar, and Uchtepa offer solid fundamentals. Prices have corrected meaningfully and yields above 7% mean the numbers work even if appreciation is slow. Uchtepa's 8.3% yield is genuinely competitive by any regional standard.
If you're an investor targeting income, Shaykhantakhur (8.1% yield) and Yashnabad studios (up to 12%) are the standout performers. The combination of post-correction purchase prices and stable rental demand from a growing professional population creates a window that may not last long past the Q3 2026 stabilisation.
If you're relocating to Tashkent, budget $425–$545 per month for a comfortable 1-bedroom in a well-connected district (Yunusabad, Shaykhantakhur). The cashless reform has not raised rents and the city average of $550/month remains one of the most affordable for a capital city in the region.
If you're a foreign investor pursuing the Golden Visa, Mirabad and Yakkasaray are the natural target — verified international-grade developments, reliable tenant demand, and the capital preservation characteristics you'd expect from a prime central address. Just go in with realistic yield expectations: 6–7% gross is the likely return, not 10%.
Browse properties across all Tashkent districts
Ayvon lists verified properties from realtors, developers, and private owners across every district covered in this report. Filter by price, district, property type, and yield estimate.
Explore Tashkent listings →Data sources
- · Zamin.uz — "Housing prices in Tashkent vary by district" (May 21, 2026)
- · Daryo.uz — Cashless reform rental study, 1.7M listings (May 11, 2026)
- · Center for Economic Research and Reforms (CERR) — Monthly real estate bulletins, Q4 2025–Q1 2026
- · Central Bank of Uzbekistan (CBU) — Real estate market analysis report
- · Uzbuild.uz — CERR transaction volume data, July 2025
- · Jarniascyril.com — Yield analysis by district and unit type (Jan 2026)
- · Exchange rate: 12,178 UZS/USD (CBU, May 2026)