The rent prices in real estate in Owerri, in the Imo 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 Owerri has had a strong fall during the last 6 months. In October, the average price per m² was ₦ 7,578.94. In November this price barely changed remaining at ₦ 7,578.94 per m². The price for the following two months in (December, January) had a considerable fall of 69 with regard to the previous two months. The price per m² has had a considerable fall of 32 % 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 ₦ 6,406.84 to ₦ 2,038.05 during February, and March.
When referring to the price in Owerri (cities & towns), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is ₦ 4,673,333. In November This price remains at ₦ 4,673,333. During the following two months (December, January) the average price had a considerable fall of 69 % 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 ₦ 3,938,152 to ₦ 1,142,000, which means a 29 % fall.