How to earn money on a new building in Tashkent?                            

Investing in real estate is one of the safest and most profitable investment options nowadays. Many investors have managed to turn crisis periods in their favor, as in almost every new building you can find flats suitable for such purposes.

Investment idea: a deal at the excavation stage

Many people start with the standard scheme – it is a purchase during the initial construction phase, because provided that a liquid new building has been chosen, the cost of it will rise with the progress of works. The contract of sale is better to conclude at the advent of 3 months after the start of sales or the beginning of construction work. In this way you will be able to make a minimum investment. And when applying to developers who have proven themselves as reliable and honest, for example, the company “NUMUNA DEVELOPMENT”, you can buy it and at the excavation stage.

Define the characteristics of the accommodation

When buying a house in a new building, you should pay attention to such basic criteria as: location, number of rooms, number of floors and most importantly – price.

Many factors affect the cost per square meter in new housing. First and foremost – it is in what neighborhood the construction is located. Convenient location in the center, near developed infrastructure and close to metro and bus lines, will cost more than those located in remote areas.

Another factor determining the cost is the materials used in construction and finishing, the story (upper floors are often cheaper), the presence of lifts, a children’s playground, underground and surface parking areas and security on the territory of the future complex.

With a discount flat can be purchased in houses still under construction. Usually it is in the region of 15%. It all depends on the phase of construction when buying. There are also companies that offer their customers good discounts when paying the full cost of the purchase in one payment, in cash. Such options as transfers and loans are more expensive.

Choosing a house and a developer

Sales are usually handled by the firms themselves, but they are also assisted by real estate agencies. If such an agency does not have exclusive rights, there will be more than one intermediary. Having seen several identical adverts, it is better to call them all, clarifying the details – they may be different for all of them. As soon as the start of sales in a new building is announced, be the first, it will give you more opportunities. After all, when the building is already completed, most of the flats are sold out and there are only the top floors or those with the largest area, as a result they are the most expensive.

After choosing the neighborhood and the house, along with information about the stage of completion and the layout, you should also look into the company you are buying the property from. You should pay attention to several things: firstly, whether it has already completed projects in its assets, secondly, whether there is a possibility of credit and if so, what bank they work with. It is also worth remembering that the legal name may be different from the brand name.

You can hire a lawyer to check the company’s documentation and sales contract. Having studied them, he will provide you with an objective assessment and clarify the points in it that are unclear to you. Don’t forget to find out the planned delivery date.

Selection of a potentially liquid object

Particular attention should be paid to the liquidity of the purchase, because if it is not in demand on the market, there is a high probability of losing money instead of earning money. During the choice it is necessary to take into account various parameters. In the current conditions, flats of comfort and economy class are in demand.

Experienced people advise newcomers to look for flats with a smaller area rather than a larger one. It is preferable to choose two one-room flats instead of a single three-room flat.

As stated earlier, there are many factors that affect the cost. For example, if next to your future home is planned to build an underground, then after the construction work is completed, the price in this place, perhaps, will grow a lot. The presence of parks and green areas or any other public places also increase the cost. But the possible presence of a motorway under the windows will reduce the prices.

Raising capital – your own money, instalments or mortgages

If it is worth the investment, you can consider using an instalment or mortgage. However, in order for the deal to be favorable you need to make a down payment of at least 50% of the total cost and a minimum repayment period.

Main investment risks

It is advisable to buy housing from developers who have a clean reputation and have been operating for a long time without delays in the delivery of projects. It is recommended to conclude a deal with them in the format of a SPA. A SPA – Share Participation Agreement – will help you keep your interests at the legal level.

It is important to realize that there are always risks and to be aware of them at the very beginning when determining your budget and your options. Price collapse, legal nuances and the economic situation can affect you. But the main risk when investing at the initial stage (under a SPA) is delayed delivery dates or the freezing of the project.

It cannot be said that buying at the final stages is always right and risk-free, because completion can be postponed until very late in the process. This can happen when the developer has financial difficulties, problems with the laying of communication systems and problems with the commissioning of the building.

It is also necessary to be cautious about those places where there was not previously developed territories for building, there will have to establish communication to it and equip the infrastructure. Delivery dates can increase under different circumstances and not always through the fault of builders. By the way, crisis and post-crisis periods are a good time for investments. The crisis will pass, and acquisitions will remain and, most importantly, will systematically increase in price.

What to choose? Balancing risk and profitability

If you are willing to take a risk and you are not burdened by waiting for the end of construction, it is recommended to make a purchase at the excavation stage, so your profit is able to grow from 30% and higher. The second option is to wait until at least the ground floors are erected, but then the revenue will be less, because in this case the rates will rise at the developers.

Analysts and authoritative experts say that the final stages in this case is not an indicator of reliability, but rather a psychological factor. There are known cases when projects were frozen at the final stages or when everything went according to the old schedule. It should be borne in mind that the return on investment in new buildings at the beginning are not because of market growth, but rather more due to the stages of construction. The growth is likely to be up to 15% per annum if there are no major economic crises.

It is important to bear in mind that in an unstable economic climate, time is working against you. After all, the demand can rapidly decrease, and if you do not guess with the level of liquidity, when the new building has already been commissioned, you can delay the process of selling the apartment. The announcement will be in a row with similar ones, and it will take a lot of effort to convincingly indicate the advantages of your proposal. In addition to this, similar “lots” may be exhibited by the sales department of owners whose marketing abilities are higher than yours.

It’s a good idea to look at the development plan for the surrounding area. If there are plans to build several housing estates in the neighborhood close to your choice, this may also have a negative impact on the growth of liquidity and, consequently, on profits.

How to sell investment property?

The most common format of sale is an assignment agreement, in other words, after signing the papers and closing the deal, the developer will owe you the flat. But even here you should not be in a hurry, it is better to do it after the issuance of a permit to put into operation then it will be the best moment and it will be possible to set a high price, because the buyer almost does not risk anything.

It is advisable to look for a buyer six months before the work is completed. If there is already a client, it is appropriate to sign a preliminary contract with him. This contract is not a paper based on the transfer of the property. Companies sometimes act as agents in such matters. It should be remembered that if your purchase is in a large housing estate where construction work is underway, your competitor may be the company itself and you will have to lower your rates.

There are situations when the sale cannot be completed at the final steps. This is fraught with losses, as the documents require you to take possession of the property. In such circumstances you will have to pay tax or wait 5 years to sell without tax.

 Also, do not forget about the possibility of renting out the flat rather than selling it. This is quite a good passive income. And when the demand increases again and reaches its peak, you can sell it safely.


Based on all of the above, the most favorable investments are those with fast construction speed and relatively low initial cost. At the same time, it is possible to consider as investments, there are also cottages, summer houses, private plots, commercial property, but still the most optimal choice remains flats.

 The capital required for investing in property cannot be called excessively high – this is a common myth that does not correspond to the realities, there are people who have managed to raise good money, possessing only a small amount at the initial stage. At the same time, the culture of investing in the primary market does not stop growing. Collective investments with further profit sharing and other financial schemes are more and more actively used, even funds of small investors are formed. Investments in new buildings are not as difficult to learn as it seems at first glance, it is important to simply study all the required information and make your first competent steps.