The prices in real estate in Port Harcourt, in the Rivers region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Port Harcourt has increased strongly during the last 6 months. In October, the average price per m² was ₦ 38,255. In November this price pretty much remained the same at a value of ₦ 38,255 per m². In the following two months the price per m² has barely changed, going from ₦ 38,255 to ₦ 40,133.5 per m². The price per m² has had a considerable increase of 334 % 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 ₦ 39,194.25 to ₦ 130,984.5 during February, and March.
Based upon to the price in Port Harcourt (cities & towns), this has gone up considerably in the last 6 months. In our first sample month during October, the average price is ₦ 17,359,091. In November This price remains at ₦ 17,359,091. In the following two months the average price has remained the same with regard to the previous two months from ₦ 17,359,092 to ₦ 17,772,252. Based on an analysis of the first four prices and the last two months the average price has risen strongly 259 % during the last two months.