The rent prices in real estate in Uyo, in the Akwa Ibom 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 Uyo has risen strongly during the last 6 months. In February, the average price per m² was ₦ 734.17. In March this price barely changed remaining at ₦ 734.17 per m². The price for the following two months in (April, May) had a considerable rise of 152 %. The price per m² has had a considerable rise of 121 % 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 ₦ 926.68 to ₦ 1,119.18 during June, and July.
When referring to the price in Uyo (cities & towns), this has risen considerably in the last 6 months. In our first sample month during February, the average price is ₦ 557,500. In March This price remains at ₦ 557,500. During the following two months (April, May) the average price had a considerable rise of 133 % 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 increased 114 % 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 ₦ 744,194 they are 73 % more affordable than the average price for Uyo . The properties with the highest average price have 4 bedrooms, Their price is 135 % more expensive than the average. After that we have properties with 3 bedrooms priced at ₦ 600,000.
With regard to the average price per m², those properties with 1 bedroom are the most affordable ones at a cost of ₦ 260.14 / m², with an average ₦ 1,119.18 / m² price in Uyo. The properties with the most expensive average prices have 4 bedrooms. They are 126 % more expensive than the average followed by properties with 3 bedrooms with a price at ₦ 852.83 / m².
The graph displaying the average rent prices displays the property type "Flat" as the most affordable one. At an cost of ₦ 744,194 it is 45 % more affordable than the average price in Uyo. "Detached bungalow" is seen as the second most affordable property type. The most expensive property type is "Detached house" followed by "Bungalow". At a price of ₦ 1,018,750 it is 202 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Flat" at an average price of ₦ 551.54 / m² followed by "Detached bungalow" priced at ₦ 728 / m². "Detached house" is the most expensive type of property with a ₦ 3,255.49 / m² value followed by "Bungalow" with an average price of ₦ 1,587.91 / m².