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«Real estate chosen for capital growth»

A complete guide for foreign buyers: from the first step to property registration

WHY UZBEKISTAN

The economy is growing faster than the region.

Uzbekistan's GDP grew by 7.7% in 2025, the highest rate since 2021. The country ranks among the top three fastest-growing economies in Europe and Central Asia. This translates into growing demand for housing and increasing property values.

New developments continue to appreciate steadily.

The prices of newly built apartments in Tashkent increased by more than 9% in 2025, with the highest growth recorded in Mirabad District (+18%), Yashnabad District (+14%), and Mirzo-Ulugbek District (+13.5%).

Record-breaking market activity.

The real estate market reached a historic record in December 2025, with more than 31000 transactions completed in a single month—one-third more than the previous year. Over the course of the year, the number of sale and purchase agreements increased by more than 15%, reaching 295 000 transactions.

Growth potential.

Business-class real estate in Tashkent costs 2–4 times less than comparable properties in Dubai, Moscow, or Istanbul. At the same time, the country's economy is growing by 7.7% annually, meaning the window of opportunity is still open.

A young population = sustainable demand.

Uzbekistan is one of the youngest countries in the CIS, with an average age of around 29 years and a population of over 37 million. This creates sustained structural demand for housing.

LEGAL FRAMEWORK

«Your right to purchase is protected by law»

Using the link below, you can find the list of countries whose citizens are entitled to purchase real estate in Uzbekistan.

Cabinet of Ministers Resolution № 384 dated July 13, 2022 – list of countries whose citizens are entitled to purchase newly built residential property without obtaining a residence permit.

Source: lex.uz

IMPORTANT REQUIREMENT

A foreign citizen purchasing real estate must pay: at least USD 150 000 (or the equivalent in UZS) when purchasing property under a construction-stage agreement; at least USD 180 000 (or the equivalent in UZS) when purchasing completed and commissioned real estate.

Under-construction property from the developer

от 150 000 $

Completed property from the developer

от 180 000 $

The above amounts represent the minimum purchase value for one real estate unit. It is not possible to combine the values of several properties into one purchase in order to meet the established threshold. Purchasing real estate worth USD 150 000 or more does not entitle you to obtain a residence permit.

«Want to stay? Obtain a residence permit»

A section for those considering a property purchase as the first step toward relocation.

Minimum investment required for a residence permit

от 300 000 $

Benefits after obtaining a residence permit:

The right to purchase real estate under the same conditions as citizens, without the established thresholds
The right to long-term residence
No need to obtain a work permit
Convenient business operations

The residence permit is valid for up to 5 years, with the possibility of renewal

«What is available to non-residents — honestly and transparently»

Allowed

Apartments and residential units in newly built developments
(properties under construction)

Completed apartments in commissioned
residential buildings

Houses and villas in residential complexes

Not allowed

Land plots

Purchasing real estate is not permitted if your country is not included in the list approved by the Cabinet of Ministers.

Source: lex.uz

STEP-BY-STEP GUIDE

5 Steps how the purchasing process works at Murad Buildings

Step 1 — Submit an Inquiry

Leave a request on our website. We will contact you, discuss your preferences regarding apartment size, floor, and budget, and select the most suitable options from our portfolio of projects.

Step 2 — A Mini Vacation: Visit Tashkent

We invite you to visit Tashkent in person. During your visit, we will organize a tour of our projects and a meeting at the Murad Buildings office, where you will meet our team and confirm your apartment selection.

Preparing for your visit

Like any vacation, this trip also requires preparation—we want you to return home with more than just great memories!

Please bring the following with you:

• Your passport
• Documents confirming the source of your funds:
• Income certificate or tax declaration for the last 1–2 years
• Bank statements for the last 6–12 months
• Documents confirming the source of funds, such as proceeds from the sale of property, dividends, inheritance, savings, etc.
• Notarized translations of all documents into Russian or Uzbek

Step 3 — A Little Pleasant Bureaucracy

Obtaining temporary registration at your place of stay, PINFL and a bank card.
To complete the transaction, a foreign citizen must first obtain temporary registration at their place of stay (if you are staying at a hotel, it can be obtained at the reception desk), then receive a PINFL (Personal Identification Number of an Individual in Uzbekistan). The average processing time for a PINFL is up to 2 business days. Once the PINFL is issued, a bank card is opened at a local bank for cashless payment of the transaction.

Step 4 — preparation, signing and payment of the shared construction participation agreement

Once all documents have been completed, the shared construction participation agreement is signed.
A bank cashier's office is located directly in our office, so there is no need to travel elsewhere to make the payment. However, there are several important points to consider:
1. If you arrive with cash, you will need documents confirming the source of your funds.
2. If you plan to make a bank transfer from your foreign bank account, simply sign the documents and receive the invoice from us for payment.

Step 5 — access to the company's information channels

After signing the agreement, you will receive access to the private Murad Buildings Telegram channel. There, we regularly publish construction progress reports, photo updates and the latest project news.

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FAQ

Frequently Asked Questions

Do I need a residence permit to purchase a newly built property?

No. Foreign citizens have been allowed to purchase newly built residential property without a residence permit since May 2022, provided that the minimum purchase amount is met and their country is included in the list approved under Cabinet of Ministers Resolution № 384.

What documents are required to confirm the source of funds?

Income certificates, tax declarations, bank statements covering the previous 6 – 12 months and documents confirming the sale of property or other sources of income.
All documents must be translated into Uzbek or Russian and notarized.
The bank may request additional documents at its discretion.

Can I rent out the apartment after purchasing it?

Yes. Foreign property owners pay 12% personal income tax on rental income – the same rate that applies to residents since 2022.

Can I obtain a mortgage?

Banks in Uzbekistan do not currently provide mortgage financing to foreign citizens. Developer installment plans are available, with terms depending on the specific project.