The rent prices in real estate in Uyo, in the Akwa Ibom 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 Uyo has had a strong fall during the last 6 months. In December, the average price per m² was ₦ 1,049.73. In the following month the price per m² fell considerably to ₦ 734.17. The price for the following two months in (February, March) had a considerable fall of 82 with regard to the previous two months. The price per m² has had a considerable rise of 138 % 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 ₦ 813.06 to ₦ 1,119.18 during April, and May.
When referring to the price in Uyo (cities & towns), this has fallen considerably in the last 6 months. The average price for December is ₦ 786,364. During January the price had a considerable fall till ₦ 557,500. During the following two months (February, March) the average price had a considerable fall of 83 % 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 121 % 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.
With regard to the average price based upon the property in Uyo we can see that the most affordable property type is "Land" at a price of ₦ 555,272, they are 25 % cheaper than the average price. "Land" has the most affordable price. This price is 25 % more affordable than the average price aforementioned.
According to the average area price by m² the most affordable property type is "Land with an average cost of ₦ 730 / m². "Land" with an average price of ₦ 730 / m² has the most affordable price and would be directed at less affluent cities.