From May 1, the mandatory insurance of mortgage housing pledged as collateral is abolished in Uzbekistan. President Shavkat Mirziyoyev noted that this would save citizens about 5 million UZS. It is also planned to introduce mandatory notarization of contracts for participation in shared housing construction.

On April 30, the President of Uzbekistan signed a decree on improving mechanisms for providing mortgage loans and improving the housing conditions of the population from 2024.

From May 1, when issuing mortgage loans for the purchase of apartments in the primary housing market, the requirement for insuring the mortgage item against insurance risks is canceled. This will save citizens about 5 million UZS, the head of state noted.

The government has been instructed to develop a project to improve mechanisms for attracting funds from individuals and legal entities for housing construction (shared participation).

The project should provide for the introduction of mandatory notarization of contracts for participation in shared housing construction. The "Transparent Construction" system will include a list of contractors attracting funds from individuals and legal entities for housing construction, measures of responsibility for contractors who started shared construction without electronic registration, and the procedure for monitoring shared construction.

The right to build multi-storey residential buildings is now granted to construction organizations with a "C" and "CC" rating in the "Transparent Construction" system. Previously, the right to build was granted to companies with a CC rating and above, and in the "Yangi Uzbekistan" massifs - with a CCC rating and above.

Developers with a "C" rating are allowed to build buildings no higher than 5 floors, and with a "CC" rating - up to 9 floors.

To replenish the working capital of construction companies participating in the construction of multi-storey residential buildings in the "Yangi Uzbekistan" massifs, 500 billion UZS will be allocated from the republican budget. The Ministry of Economy and Finance will place these funds in banks for 18 months, including a 12-month grace period, at the main rate of the Central Bank, and banks will allocate the money as loans to construction organizations with a 2% margin.

The list of developers who can receive these loans will be compiled by the Ministry of Construction and Housing and Utilities and the Central Bank based on their rating.

Improvement work in the "New Uzbekistan" massifs, including the construction of pedestrian paths, lighting systems, parking lots, landscaping, and greening, including tree planting, will be carried out by hokimiyats and the Council of Ministers of Karakalpakstan at the expense of local budgets and funds from industry organizations.

To reduce the cost of housing and meet the demand in the primary market, it is planned to identify 20 hectares of non-agricultural land in Karakalpakstan and the regions, and 60 hectares in Tashkent, which will be auctioned for the construction of multi-storey houses.

Until January 1, 2025, the customs duty on the import of electric winches and lifting devices (jacks) is nullified.