The prices in real estate in Abuja, in the Abuja region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Abuja has had a strong decrease during the last 6 months. In October, the average price per m² was ₦ 1,130,031. In November this price pretty much remained the same at a value of ₦ 1,171,090 per m². The price for the following two months in (December, January) had a considerable decrease of 14 with regard to the prior two months. The price per m² has decreased 89 % 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 ₦ 654,881.25 to ₦ 581,290 during February, and March.
Based upon to the price in Abuja (cities & towns), this has fallen considerably in the last 6 months. The price in October is ₦ 205,964,286, rising in November till ₦ 224,375,000. During the following two months (December, January) the average price had a considerable reduction of 25 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of ₦ 134,231,296 and ₦ 130,616,984 between February and March.
The graph showing the average price for bedrooms displays the property with the most expensive price has 1 bedroom. It is 76 % more costly than the average price of ₦ 348,575,363 in Abuja. Based on the bedrooms values, properties with the highest prices are those with 1 bedroom. They are 76 % more expensive than the average aforementioned.
With regard to the average prices per m² those properties with 1 bedroom are 83 % cheaper than the average price of (₦ 157,128 / m²) in Abuja. Properties with the most affordable price based upon to the number of bedrooms / m² are those with 1 bedroom. They are 83 % cheaper than the average value aforementioned.
The graph displaying the average prices displays the property type "Commercial property" as the most affordable one. At an cost of ₦ 197,692,308 it is 26 % cheaper than the average price in Abuja. "Flat" is seen as the second most affordable property type. The cheapest type property is "Flat" followed by "Commercial property". At a price of ₦ 146,883,593 it is 25 % more affordable than the average price.
According to the average cost per m², the cheapest property type is "Commercial property" at an average cost of ₦ 123,696 / m² followed by "Flat" priced at ₦ 124,319 / m². "Flat" is the cheapest type of property with a ₦ 124,319 / m² value followed by "Commercial property" with an average price of ₦ 123,696 / m².