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Enhancing Housing Finance for Socio-Economic Stability in Uzbekistan

Author

Listed:
  • Astanakulov Olim

    (International Islamic Academy of Uzbekistan, Uzbekistan)

  • Mumhammad Eid Balbaa

    (Tashkent State University of Economics, Uzbekistan)

  • Berdalieva Mukhabbatkhon

    (International Islamic Academy of Uzbekistan, Uzbekistan)

  • Nilufar Batirova

    (International Islamic Academy of Uzbekistan, Uzbekistan)

  • Umidjon Dadabaev

    (Tashkent State University of Economics, Uzbekistan)

Abstract

This study is devoted to the analysis of the current state and prospects for improving housing finance in Uzbekistan in the period from 2018 to 2023. The purpose of the work is to identify key factors affecting the socio-economic stability of the country through the prism of housing sector development, and to develop practical recommendations for optimizing housing finance mechanisms. An analysis of the dynamics of key indicators of the housing sector in Uzbekistan for 2018-2023 revealed a positive trend in the growth of housing construction by 28.6% (from 12.3 million square meters in 2018 to 15.8 million square meters in 2023), an increase in the share of mortgage lending in the structure of housing finance from 23.4% to 41.7%, as well as an increase in the level of housing provision for the population increased from 15.9 sq.m. per person in 2018 to 17.4 sq.m. in 2023. At the same time, there are still imbalances in the territorial distribution of housing construction volumes and the availability of mortgage loans for various segments of the population. The econometric analysis showed that an increase in housing construction by 1% leads to an increase in GDP by 0.28%, and an increase in the share of mortgage lending by 1 percentage point contributes to a decrease in the unemployment rate by 0.14 percentage points.

Suggested Citation

  • Astanakulov Olim & Mumhammad Eid Balbaa & Berdalieva Mukhabbatkhon & Nilufar Batirova & Umidjon Dadabaev, 2024. "Enhancing Housing Finance for Socio-Economic Stability in Uzbekistan," International Journal of Economics and Financial Issues, Econjournals, vol. 14(3), pages 140-148, May.
    • Handle: RePEc:eco:journ1:2024-03-17
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    References listed on IDEAS

    as
    1. Jack Favilukis & Sydney C. Ludvigson & Stijn Van Nieuwerburgh, 2017. "The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk Sharing in General Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 125(1), pages 140-223.
    2. Muhammad Eid Balbaa, 2024. "Socio-Economic Indicators and their Impact on Sustainable Economic Development: An In-depth Analysis of Egypt," International Journal of Economics and Financial Issues, Econjournals, vol. 14(2), pages 136-145, March.
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    More about this item

    Keywords

    Housing Finance; Socio-economic Stability; Mortgage Lending; Housing Construction; Uzbekistan;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics

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