The rent prices in real estate in Abuja, in the Abuja region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per m² in Abuja has risen strongly during the last 6 months. In December, the average price per m² was ₦ 11,813.88. In the following month the price per m² fell considerably to ₦ 6,781.21. In the following two months the price per m² has practically remained the same, going from ₦ 9,297.54 to ₦ 9,027.51 per m². The price per m² has had a considerable rise of 333 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of ₦ 9,162.53 to ₦ 30,511.61 during April, and May.
When referring to the price in Abuja (cities & towns), this has risen considerably in the last 6 months. The average price for December is ₦ 2,462,320. During January the price had a slight fall till ₦ 2,209,923. During the following two months (February, March) the average price fell 88 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 235 % during the last two months.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of ₦ 1,792,083 they are 70 % more affordable than the average price for Abuja . The properties with the highest average price have 4 bedrooms, Their price is 179 % more expensive than the average. After that we have properties with 3 bedrooms priced at ₦ 1,991,875.
With regard to the average price per m², those properties with 1 bedroom are the most affordable ones at a cost of ₦ 647.15 / m², with an average ₦ 2,868.21 / m² price in Abuja. The properties with the most expensive average prices have 4 bedrooms. They are 66 % more expensive than the average followed by properties with 3 bedrooms with a price at ₦ 2,986.18 / m².
The graph displaying the average rent prices displays the property type "Flat" as the most affordable one. At an cost of ₦ 1,792,083 it is 35 % more affordable than the average price in Abuja. "Commercial property" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Apartment". At a price of ₦ 4,540,742 it is 333 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Flat" at an average price of ₦ 1,400.22 / m² followed by "Commercial property" priced at ₦ 8,804 / m². "Apartment" is the most expensive type of property with a ₦ 76,466 / m² value followed by "House" with an average price of ₦ 47,794 / m².