DUSHANBE, July 19, Asia-Plus — over the past five years, prices of dwelling real estate in Dushanbe have doubled, according to experts.
Experts say the results of the housing market survey conducted in Tajikistan have shown that prices of dwelling space in residential buildings in Dushanbe are currently fluctuates from US$550 to US$1,300 per one square meter depending on the location of the residential building.
The survey was conducted within the framework of the “Development of Primary Mortgage Market in Central Asia” Project implemented by IFC since 2005 under financial support of the State Secretariat for Economic Affairs of Switzerland (SECO).
Experts hold that among the other capital cities of Central Asia’s countries Dushanbe is one of “accessible” in terms of purchasing power of the population. However, a number of sold apartments in Dushanbe increased from 8,913 in 2000 to 12,736 in 2004.
The mentioned increase in apartment sales is also evidence of formation and development of housing market in the city, rising level of liquidity of commodity such as dwelling.
Taking into account that there is practically no mortgage market in the country, it means that dwelling has been purchased at the expense of savings or through borrowing from unofficial sources.
According to data from the construction organizations, a cost price of the construction of an elite residential building in Tajikistan come on average to US$600 per one sq. m., and a cost price of the construction of a middle-class residential building amounts on average to US$400 per one sq. m.
Lately, use of a mechanism of sharing financing of the construction of dwelling with drumming up means of its future owners has been practiced in the housing construction in Tajikistan. But lack of legal documents regulating such relations carries considerable potential risks both for future owners and constructors.
