Table of Contents
- Executive Summary: Why Uzbekistan’s Real Estate Landscape is Transforming
- Key Regulatory Authorities and Legal Framework (uzbekistan.gov)
- 2025 Legal Updates: New Laws & Amendments Impacting Property Ownership
- Foreign Investment Rules: Restrictions, Opportunities, and Compliance
- Taxation, Fees, and Fiscal Responsibilities in Real Estate Deals
- Licensing, Registration, and Notarial Requirements for Transactions
- Zoning, Land Use, and Permitting: Navigating Bureaucratic Hurdles
- Compliance Challenges: Common Pitfalls and Official Guidance
- Key Statistics: Market Growth, Foreign Participation, and Investment Trends (mift.uz, stat.uz)
- Future Outlook: Expected Reforms and Strategic Roadmap to 2030
- Sources & References
Executive Summary: Why Uzbekistan’s Real Estate Landscape is Transforming
Uzbekistan’s real estate sector is undergoing significant transformation, driven by a series of regulatory reforms that aim to modernize the market, enhance transparency, and attract foreign investment. In recent years, the government has prioritized the liberalization and digitalization of property transactions, simplifying procedures for both domestic and foreign participants. Major legislative updates, including amendments to the Land Code and the introduction of the “Unified Real Estate Register,” have laid the foundation for increased legal certainty and streamlined property rights registration.
A major milestone was the adoption of the new Law “On State Registration of Rights to Immovable Property” in 2023, which centralized the registration process and reduced bureaucratic hurdles. The law mandates electronic submission of documents and digital signatures, significantly cutting transaction times. Notably, the Ministry of Justice reported that property registration time dropped by 40% in 2023 compared to previous years. Moreover, the government has removed many restrictions on foreign ownership of real estate, with non-residents now permitted to acquire property in major urban centers, subject to specific guidelines and compliance checks Ministry of Justice of the Republic of Uzbekistan.
Compliance and anti-corruption measures have also been strengthened. The State Tax Committee and the Cadastre Agency have increased oversight of real estate transactions to combat money laundering and tax evasion. Initiatives such as the introduction of a public online database for property deals further enhance market transparency and investor confidence State Tax Committee of the Republic of Uzbekistan.
Statistically, Uzbekistan’s real estate registration improved its ranking in the World Bank’s Doing Business indicators, advancing by 15 positions in 2023. The number of registered real estate transactions surpassed 400,000 in 2024, a 25% increase over the previous year, reflecting heightened market activity State Committee of the Republic of Uzbekistan on Statistics.
Looking ahead to 2025 and beyond, Uzbekistan is expected to continue its trajectory of regulatory modernization, with further digital integration and expansion of legal protections for investors. The government’s ongoing commitment to transparency, efficiency, and market openness positions the Uzbek real estate sector as an increasingly attractive destination for both local and international stakeholders.
Key Regulatory Authorities and Legal Framework (uzbekistan.gov)
Uzbekistan’s real estate sector operates under a legal framework shaped by several key regulatory authorities and legislative acts. The Ministry of Justice of the Republic of Uzbekistan, the State Committee for Land Resources, Geodesy, Cartography and State Cadastre (commonly known as the Cadastral Committee), and the State Tax Committee are central to the registration, taxation, and oversight of real estate transactions. As of 2025, the sector is governed by a blend of the Civil Code, the Land Code (first adopted in 1998 and amended periodically), as well as specific laws such as the Law “On State Registration of Rights to Immovable Property” and the Law “On Mortgage” (Ministry of Justice of the Republic of Uzbekistan).
The Cadastral Committee manages state registration of property rights, ensuring compliance with land use, construction, and ownership norms. Since 2023, a nationwide digitalization effort has transitioned key registration procedures to electronic platforms, improving transparency and efficiency. According to official statistics, over 80% of property registrations by late 2024 were processed online, reflecting a sharp decline in processing times and a reduction in bureaucratic barriers (Unified Portal of Interactive Public Services of Uzbekistan).
Foreign ownership remains regulated: while foreign individuals and companies can generally acquire non-agricultural property, land is constitutionally state-owned, with only leasehold rights available for both citizens and foreigners. Notable reforms are underway in 2025 to simplify land allotment and enhance investor protections, including amendments to the Land Code and the introduction of a unified real estate registry system, expected to be fully operational by 2026 (Senate of the Oliy Majlis of the Republic of Uzbekistan).
- All real estate transactions must be notarized and registered with the Cadastral Committee.
- Taxes on property transfer and ownership are regulated by the State Tax Committee, with rates and exemptions updated annually (State Tax Committee).
- Recent anti-money laundering initiatives require comprehensive due diligence on both buyers and sellers for high-value transactions.
Looking ahead, regulatory priorities include streamlining land use planning, further digitizing public services, and aligning national standards with international best practices to foster investment and sustainable urban development. The ongoing reforms position Uzbekistan’s real estate regulatory environment for increased transparency and accessibility in the coming years.
2025 Legal Updates: New Laws & Amendments Impacting Property Ownership
In 2025, Uzbekistan is experiencing significant reforms in its real estate regulatory environment, reflecting both the government’s modernization agenda and its goal to foster a transparent, investor-friendly property market. A central development is the ongoing implementation of the “Law on State Registration of Rights to Immovable Property,” which was last amended in late 2023 and is being actively enforced and refined through 2025. This law streamlines procedures for the registration of ownership, mortgage, and lease rights, and introduces unified electronic records to reduce fraud and improve public access to property data (Ministry of Justice of the Republic of Uzbekistan).
In tandem, the Cabinet of Ministers issued several decrees in early 2025, further clarifying the rules for foreign individuals and companies wishing to acquire real estate. Notably, foreign citizens are now permitted to purchase apartments in newly built multi-storey buildings in designated urban zones, provided that they comply with currency control and tax requirements (Cabinet of Ministers of the Republic of Uzbekistan). However, restrictions remain on the direct acquisition of land plots by foreigners; these can only be leased, not purchased outright.
A pivotal regulatory shift involves the digitalization of property transactions through the “Unified State Real Estate Cadastre” system, which is being expanded in 2025 to integrate notaries, banks, and municipal authorities for real-time verification and processing. This digital transition aims to minimize corruption risks and expedite transaction times, with the government reporting a reduction in property registration duration from 30 days in 2019 to under 7 days as of early 2025 (Agency for Public Services under the Ministry of Justice).
Compliance requirements have also tightened, particularly regarding anti-money laundering (AML) checks and tax transparency. Real estate agents and developers are now mandated to conduct enhanced due diligence on buyers and sellers, in line with the updated “Law on Counteraction to Legalization of Proceeds from Crime,” with penalties for non-compliance including license suspension (National Center of Legislation under the President of Uzbekistan).
Looking ahead, the government’s policy roadmap through 2027 prioritizes further liberalization for foreign investors, the simplification of inheritance and gift transactions, and the introduction of e-mortgages. These changes are expected to bolster Uzbekistan’s rank in the World Bank’s “Ease of Doing Business” index, while supporting domestic housing construction and private sector participation.
Foreign Investment Rules: Restrictions, Opportunities, and Compliance
Uzbekistan’s real estate regulatory landscape has undergone significant transformation in recent years, aimed at fostering a more attractive and transparent environment for foreign investors. As of 2025, the government continues to implement reforms designed to balance the encouragement of foreign capital inflows with national interests and regulatory oversight.
Historically, foreign nationals faced notable restrictions on acquiring real estate, particularly land. The Land Code of the Republic of Uzbekistan stipulates that land remains state-owned and is granted for use rather than ownership, with particular sensitivity regarding agricultural and strategic land plots. However, non-residents and foreign companies have been permitted to purchase buildings and structures, including residential and commercial properties, in urban areas since the implementation of Presidential Decree No. UP-5611 (2018) and subsequent regulatory clarifications by the Ministry for Development of Information Technologies and Communications of the Republic of Uzbekistan.
In 2023, further liberalization was enacted through amendments to the Law on Investments and Investment Activities, which reinforced the rights of foreign investors to acquire and lease non-agricultural land plots for investment purposes. These changes are aligned with Uzbekistan’s ambitions to climb the World Bank’s Ease of Doing Business rankings and to attract diversified foreign direct investment (FDI). According to the Ministry of Investments, Industry and Trade of the Republic of Uzbekistan, FDI inflows into real estate reached $1.1 billion in 2023, with projections indicating continued growth through 2025 as regulatory barriers are eased.
Compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations is overseen by the Financial Intelligence Unit under the Central Bank of Uzbekistan. All real estate transactions involving foreign entities must adhere to rigorous due diligence and reporting obligations, as outlined in the Law on Counteracting the Legalization of Proceeds from Criminal Activity. Notably, the government has intensified digitalization of land and property registries, streamlining transparency and compliance checks.
Looking ahead, Uzbekistan’s government plans to further harmonize real estate regulations with international standards by 2027, including expanding the types of property available for foreign ownership and introducing long-term land leases. The ongoing initiatives by the Cabinet of Ministers are expected to result in a more predictable legal environment, increased investor protection, and greater inflows of foreign capital into the real estate sector.
Taxation, Fees, and Fiscal Responsibilities in Real Estate Deals
Uzbekistan has undergone significant reforms to its real estate taxation and fiscal regulatory framework in recent years, reflecting the government’s commitment to improving transparency, investor confidence, and state revenues. Real estate transactions in Uzbekistan are subject to a range of taxes and fees legislated under the Tax Code of the Republic of Uzbekistan and related legal acts. As of 2025, these frameworks continue to evolve in alignment with the country’s broader economic modernization goals.
The principal tax obligations in property deals include value-added tax (VAT), personal income tax or corporate profit tax on capital gains, and property transfer duties. For individuals, the sale of real estate is typically subject to personal income tax; however, exemptions may apply if the property was held for more than three years. For legal entities, profits derived from property sales are taxed as part of overall corporate income. VAT is generally not levied on residential property sales by individuals, but sales of commercial real estate and transactions by developers may attract VAT at the standard rate of 12%. Inheritance and gift transfers of real estate may also trigger specific tax liabilities, subject to conditions outlined in the tax code.
Notaries play a central role in real estate transfers, with both parties required to pay notarial fees, which are regulated and recalculated annually. State duties are assessed for the registration of ownership rights with the authorized body, the Agency for Public Services. Foreign nationals and legal entities face additional compliance requirements, including registration of transactions involving strategically significant assets and restrictions on certain land acquisitions.
Recent legislative updates—including amendments to the Tax Code and simplification of property registration procedures—have streamlined compliance, reducing the average time for property registration to under ten days in 2024, according to the State Tax Committee of the Republic of Uzbekistan. Digitalization of tax payments and notarial services is expected to further ease fiscal compliance in 2025 and beyond.
Statistical data from the Statistics Agency under the President of the Republic of Uzbekistan indicates a steady increase in the volume and value of real estate transactions in recent years, driven by urbanization, foreign investment, and a growing middle class. As reforms deepen, the government projects increased tax revenues from real estate and greater regulatory oversight. Continued modernization of fiscal regulations—particularly regarding transparency, anti-money laundering, and digital reporting—is anticipated to shape the sector’s landscape through 2025 and into the following years.
Licensing, Registration, and Notarial Requirements for Transactions
Uzbekistan continues to refine its real estate regulatory framework, with particular attention to licensing, registration, and notarial requirements for property transactions. As of 2025, the legal regime is primarily governed by the Law “On State Registration of Rights to Immovable Property and Transactions Therewith” (No. ZRU-385, as amended), the Civil Code, and a series of decrees aimed at streamlining procedures and enhancing transparency.
The licensing of real estate activities is overseen by the State Committee of the Republic of Uzbekistan on Land Resources, Geodesy, Cartography and State Cadastre. Real estate agencies and brokers must obtain a special license, valid for five years, which entails proving professional qualifications, passing certification, and maintaining a permanent office. Stringent compliance checks have resulted in a steady increase in licensed entities, with official statistics indicating more than 2,500 licensed real estate service providers as of early 2025.
Property registration is compulsory for the legal transfer of ownership. The process is administered via the Unified State Register of Rights to Immovable Property, operated by the State Cadastre. As of recent reforms, the timeline for standard registrations has been reduced to three working days, and electronic submission is now widely available. For 2024, the cadastre reported approximately 380,000 property transactions—a 22% increase versus 2022, reflecting growing market activity and confidence.
Notarial authentication remains a core requirement for most real estate transactions, including sales, gifts, and inheritance transfers. According to the Chamber of Notaries of the Republic of Uzbekistan, all contracts involving immovable property must be notarized to be deemed valid and enforceable. Notaries are responsible for verifying the legal capacity of parties, ensuring the absence of encumbrances, and confirming the accuracy of cadastral information. Recent digitalization measures have enabled electronic notarization for certain transactions, with over 40% of property deals in 2024 processed through the e-notary system.
Looking ahead, Uzbekistan plans to further harmonize its real estate regulations with international standards, with draft laws under consideration to expand e-registration and relax some licensing requirements for innovative PropTech firms. The government’s ongoing anti-corruption drive is expected to tighten compliance oversight, particularly regarding anti-money laundering checks in real estate transactions (Ministry of Internal Affairs of Uzbekistan). These trends signal a more transparent, efficient, and investor-friendly environment in Uzbekistan’s property market for 2025 and beyond.
Zoning, Land Use, and Permitting: Navigating Bureaucratic Hurdles
Uzbekistan’s real estate sector is undergoing significant transformation, with zoning, land use, and permitting processes at the heart of regulatory reforms. The government, seeking to attract investment and modernize urban infrastructure, has updated several legal frameworks in recent years. The key legislative instrument is the Land Code of the Republic of Uzbekistan, which delineates categories of land, permissible uses, and the procedures for allocation and transfer. Amendments effective in 2023 and 2024 have sought to streamline these processes, particularly to encourage private and foreign investment in real estate development.
Zoning and land use planning are primarily overseen by the State Committee for Land Resources, Geodesy, Cartography and State Cadastre of the Republic of Uzbekistan. Municipalities also play a crucial role, particularly in urban areas such as Tashkent, where local master plans (genplans) determine building heights, density, and permitted functions. To obtain land for development, investors must participate in public auctions or tenders, with the process increasingly digitized through the government’s unified electronic platform. The Cabinet of Ministers has issued resolutions to further regulate procedures on land allocation, prioritizing transparency and reduction of discretionary bureaucracy.
The permitting process for construction and redevelopment remains multi-layered, requiring approvals from urban planning authorities, environmental agencies, and fire safety departments. The government has introduced the “one-stop shop” principle in large cities to reduce processing times. However, according to data from the Agency of Public Services under the Ministry of Justice, as of early 2025, the average time for full permitting in Tashkent still ranges from 60 to 90 days, with rural areas facing longer timelines due to capacity constraints.
Compliance is strictly enforced, with unauthorized land use or construction subject to administrative fines, demolition orders, or criminal liability. The Prosecutor General’s Office of the Republic of Uzbekistan regularly audits land allocation and construction permits to combat corruption and ensure adherence to zoning rules. In 2024, over 120 cases of illegal construction were prosecuted nationwide.
Looking forward, Uzbekistan’s “New Uzbekistan 2025” development strategy emphasizes the digitalization of land and construction permits, further decentralization of planning decisions, and harmonization of urban codes with international standards. While substantial progress has been made, stakeholders should expect continued bureaucratic hurdles, especially in peri-urban and rural areas, as reforms are fully implemented and institutional capacity is strengthened.
Compliance Challenges: Common Pitfalls and Official Guidance
Uzbekistan’s real estate market has undergone significant legislative modernization in recent years, with the government implementing new regulations to foster transparency, investor protection, and sustainable urban development. Despite these efforts, compliance challenges persist, particularly as the regulatory environment continues to evolve in 2025.
A common pitfall for both domestic and international investors is the complexity of land and property registration procedures. While the government has streamlined some processes—such as the introduction of electronic registration for real estate transactions—stakeholders still face bureaucratic delays and occasional inconsistencies in documentation requirements between local and national authorities. The State Cadastre Agency mandates strict adherence to registration protocols, and incomplete or inaccurate submissions often result in significant processing delays or even invalidation of transactions.
Another compliance challenge is related to foreign ownership restrictions. While Uzbekistan has taken steps to liberalize property rights, certain categories of land, especially agricultural or state-owned plots, remain off-limits to foreign nationals and entities. According to the most recent amendments to the Land Code, non-residents can acquire residential real estate in urban areas but are barred from owning land in rural or border zones. Violations can lead to compulsory sale or forfeiture of rights, as enforced by the Ministry of Justice of the Republic of Uzbekistan.
Tax compliance and anti-money laundering (AML) obligations further complicate real estate transactions. The State Tax Committee requires buyers and sellers to declare property transactions and pay associated taxes, including value-added tax (VAT) and capital gains tax where applicable. In 2025, stricter enforcement of AML regulations—aligned with recommendations from the Eurasian Group on Combating Money Laundering—demands that real estate agents and notaries perform enhanced due diligence on clients to identify suspicious transactions.
Official guidance is available to help market participants navigate these challenges. The Unified Portal of Interactive State Services offers step-by-step instructions for property registration and compliance checklists. Additionally, the Norma Legal Portal, maintained by the government, provides up-to-date legal texts and commentaries on real estate, land use, and property taxation.
Looking ahead, further regulatory updates are anticipated as Uzbekistan continues its trajectory toward greater market openness and digitalization. However, stakeholders should remain vigilant in monitoring new decrees and administrative practices to avoid inadvertent non-compliance amid ongoing reform.
Key Statistics: Market Growth, Foreign Participation, and Investment Trends (mift.uz, stat.uz)
Uzbekistan’s real estate sector has experienced significant transformation in recent years, driven by regulatory reforms, growing foreign interest, and government incentives to attract investment. The national government has actively promoted real estate market transparency, digitalization of property records, and simplification of procedures for both domestic and foreign investors. As of 2025, the country’s real estate market demonstrates robust growth, with notable trends in both market expansion and increased foreign participation.
- Market Growth: The real estate sector in Uzbekistan registered steady annual growth rates in transaction volume and investment. According to official figures for 2023 and preliminary data for 2024, the total number of real estate transactions exceeded 500,000 annually, marking a year-on-year increase of over 10%. The construction sector’s contribution to GDP reached 6.7% in 2023, further reflecting the sector’s expansion (State Committee of the Republic of Uzbekistan on Statistics).
- Foreign Participation: New regulations implemented in recent years have enabled foreign citizens and companies to purchase certain real estate properties in Uzbekistan, particularly in newly designated economic and tourism zones. In 2023, the number of real estate transactions involving foreign buyers grew by approximately 17% compared to the previous year, with the capital city Tashkent and the cities of Samarkand and Bukhara being the primary destinations for foreign real estate investment (Ministry of Investment, Industry and Trade of the Republic of Uzbekistan).
- Investment Trends: The Uzbek government continues to prioritize the development of housing and commercial infrastructure through public-private partnerships (PPP) and incentives for developers. The volume of foreign direct investment (FDI) into real estate and construction reached approximately $1.2 billion USD in 2023, a record high for the country. Uzbekistan’s focus on urban renewal and affordable housing projects is expected to further drive both domestic and international investment in the sector through 2025 and beyond (Ministry of Investment, Industry and Trade of the Republic of Uzbekistan).
Looking forward, Uzbekistan’s real estate market is projected to continue its upward trajectory, supported by ongoing regulatory reforms, modernization of land and property registration systems, and broader economic liberalization. The government’s stated objective is to increase housing supply by at least 30% by 2030, underlining a positive long-term outlook for investors and market participants (State Committee of the Republic of Uzbekistan on Statistics).
Future Outlook: Expected Reforms and Strategic Roadmap to 2030
Uzbekistan’s real estate sector stands at a pivotal juncture as the government advances comprehensive reforms aimed at modernizing property regulations, enhancing market transparency, and attracting foreign investment. These efforts align with the country’s broader development strategies outlined in the “Uzbekistan 2030” program, which emphasizes institutional reforms, digitalization, and sustainable urban growth.
One key regulatory milestone is the continued implementation of Presidential Decree No. UP-101 dated September 11, 2023, which mandates the digitalization of land and property registration systems and streamlines the permitting process for construction projects. This decree, supported by the State Committee on Land Resources, Geodesy, Cartography and State Cadastre, is expected to further reduce bureaucratic barriers, increase the reliability of property rights, and mitigate corruption risks over the coming years (President of the Republic of Uzbekistan).
In 2025, the government plans to finalize amendments to the Law “On State Registration of Rights to Immovable Property,” with a focus on strengthening legal protections for owners and clarifying procedures for foreigners acquiring property. The Ministry of Justice is also working on regulatory changes to improve mortgage financing options, aiming to facilitate broader access to housing and stimulate residential construction (Ministry of Justice of the Republic of Uzbekistan).
Compliance measures are tightening: The State Tax Committee has increased oversight of real estate transactions to ensure proper reporting and payment of associated taxes, reflecting a national push for greater fiscal transparency (State Tax Committee of the Republic of Uzbekistan). In tandem, the government is piloting a unified electronic cadastre, which is set to be rolled out nationwide by 2026, providing a centralized database for all real property records.
Statistically, the volume of registered real estate transactions has grown by over 15% annually since 2022, supported by streamlined processes and rising urbanization. Foreign direct investment in real estate is projected to increase, particularly in Tashkent and other major cities, as regulatory clarity improves (State Committee of the Republic of Uzbekistan on Statistics).
Looking ahead to 2030, Uzbekistan’s strategic roadmap envisions alignment with international standards in property rights, anti-money laundering compliance, and urban planning. The ongoing reforms are expected to foster a more transparent, investor-friendly real estate market, positioning Uzbekistan as a competitive destination for regional and global investment.
Sources & References
- Ministry of Justice of the Republic of Uzbekistan
- State Tax Committee of the Republic of Uzbekistan
- Cabinet of Ministers of the Republic of Uzbekistan
- National Center of Legislation under the President of Uzbekistan
- Law on Counteracting the Legalization of Proceeds from Criminal Activity
- Agency of Public Services under the Ministry of Justice
- Ministry of Justice of the Republic of Uzbekistan
