The rent prices in real estate in Obafemi Owode, in the Ogun 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 Obafemi Owode has had a strong fall during the last 6 months. In November, the average price per m² was ₦ 773.33. In December this price barely changed remaining at ₦ 773.33 per m². The price for the following two months in (January, February) had a considerable fall of 62 with regard to the previous two months. The price per m² has had a considerable fall of 83 % 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 ₦ 625 to ₦ 520 during March, and April.
When referring to the price in Obafemi Owode (cities & towns), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is ₦ 453,333. In December This price remains at ₦ 453,333. During the following two months (January, February) the average price had a considerable fall of 60 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from ₦ 361,666.5 to ₦ 306,666.5, which means a 85 % fall.