The prices in real estate in Ogba Egbema Ndoni, in the Rivers 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 Ogba Egbema Ndoni has had a strong decrease during the last 6 months. In November, the average price per m² was ₦ 765,960. In December this price pretty much remained the same at a value of ₦ 765,960 per m². The price for the following two months in (January, February) had a considerable decrease of 15 with regard to the prior two months. The price per m² has had a considerable deflation of 25 % 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 ₦ 441,111.5 to ₦ 109,060 during March, and April.
Based upon to the price in Ogba Egbema Ndoni (cities & towns), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is ₦ 70,437,500. In December This price remains at ₦ 70,437,500. During the following two months (January, February) the average price had a considerable reduction of 53 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from ₦ 53,736,608 to ₦ 33,666,668, which means a 63 % fall.