The rent prices in real estate in Ibadan, in the Oyo region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per m² in Ibadan has had a strong fall during the last 6 months. In September, the average price per m² was ₦ 29,069.62. In the following month the price per m² fell considerably to ₦ 18,355.6. The price for the following two months in (November, December) had a considerable fall of 58 with regard to the previous two months. The price per m² has had a considerable rise of 135 % 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 ₦ 18,724.23 to ₦ 25,245.4 during January, and February.
When referring to the price in Ibadan (cities & towns), this has fallen considerably in the last 6 months. The average price for September is ₦ 966,667. During October the price had a considerable fall till ₦ 687,500. During the following two months (November, December) the average price had a considerable fall of 82 % 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 115 % 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 ₦ 851,220 they are 59 % more affordable than the average price for Ibadan . The properties with the highest average price have 4 bedrooms, Their price is 264 % more expensive than the average. After that we have properties with 3 bedrooms priced at ₦ 896,667.
With regard to the average price per m², those properties with 2 bedrooms are the most affordable ones at a cost of ₦ 9,834.19 / m², with an average ₦ 21,290.87 / m² price in Ibadan. The properties with the most expensive average prices have 4 bedrooms. They are 393 % more expensive than the average followed by properties with 3 bedrooms with a price at ₦ 16,297.88 / m².
With regard to the average price based upon the property in Ibadan we can see that the least affordable property type is "House" at a price of ₦ 861,111, they are 1 % more expensive than the average price. "House" has the most expensive price. This price is 1 % more expensive than the average price aforementioned.
According to the average area price by m² the most affordable property type is "House with an average cost of ₦ 12,130.51 / m². "House" with an average price of ₦ 12,130.51 / m² has the most affordable price and would be directed at less affluent cities.