Primary source of financing real estate in Uzbekistan

Primary source of financing real estate in Uzbekistan

The survey held in July 2010 on primary source of financing real estate in Uzbekistan through social networks (Twitter and Facebook) covering five questions, surveyed 80 participants of various backgrounds.

Overwhelming majority in the survey – 75% was private sector participants, 19% from the state sector and 6% unemployed.

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As the survey reveals, the primary source of financing real estate amongst the participants was attributed to SALARY- 55%. Further breakdown of the results, yield that the employed at the state sector mainly (53%) relied on family support, whereas those in the private sector (63%) reckoned their salary as the main source for real estate procurement.

Mortgage financing, on other hand, turned out less actual in Uzbekistan. Only 6% of the surveyed opted this source, which can be accounted for by a virtual exemption of the mortgage in the secondary market of Uzbekistan.

MOST EXPECTED APARTMENT PRICE RANGES that could readily be financed according to the survey constituted $10,000 – $19,000, and $20,000 – $29,000 followed by $30,000 – $39,000 as is seen in the graph, which lay below the third quartile of one, two and three room apartment prices as of June 2010 respectively.

Living space sought, corresponding to the price ranges were as follows:

Price range, USD 10,000-19,000 20,000-29,000 30,000-39,000 40,000-59,000 60,000 +
Top corresponding sq.m 30 – 47 sq.m 48 – 65 sq.m 66 – 85 sq.m 86 sq.m + 86 sq.m +

Bekzod Ruzmetov,

Editor-in-Chief

Article Source: http://www.uzre.uz



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