Property for sale in Uzbekistan

Is the capital of Uzbekistan and also of the Tashkent Province.

Is a doubly landlocked country in Central Asia, formerly part of the Soviet Union. It shares borders with Kazakhstan to the west and to the north, Kyrgyzstan and Tajikistan to the east, and Afghanistan and Turkmenistan to the south.

The property market of Uzbekistan is a relatively young one, and real estate buying has been not really taken off until now. The government introduced favorable tax system for foreign investors and making mortgage available in the last two years has been the market increase after stagnation of 10 years. Prices for real estate in Uzbekistan are expected to begin increasing at a faster rate of 100% annual with each coming year. Despite a 1998 Land Code and Law on Land, the Uzbek Constitution is ambiguous about the legality of both private ownership, and foreign ownership. This introduces much uncertainty, because the president could suddenly interpret the constitution the other way around, and confiscate lands.

Purchasing property for sale in Uzbekistan requires a foreign national to obtain a status of residency in the country, though this process can take a while thanks to prohibitive levels of bureaucracy and other minor pitfalls. A respected local lawyer should be employed to help with the process, as well as with land titles and other matters. The government is making a concentrated effort to make property purchases easier for foreign nationals as a way of increasing foreign investment, so things are slowly getting simpler.

Once residency or a passport is set up, the transaction for the property can get underway. As a legal entity in the country, foreign individuals are party to the same treatment as domestic citizens but with a few extra tax breaks here and there.

Despite the fact that Uzbekistan property market is relatively young, it is well on the way to becoming a hot spot for property investors. Uzbekistan property market is definite place for successful investment whereas, neighboring countries real estate market in Kazakhstan etc. have exhausted their potential already.