The prices in real estate in Uruan, in the Akwa Ibom 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 Uruan has had a strong decrease during the last 6 months. In November, the average price per m² was ₦ 6,789. In December this price pretty much remained the same at a value of ₦ 6,789 per m². The price for the following two months in (January, February) had a considerable decrease of 50 with regard to the prior two months. The price per m² has had a considerable deflation of 0 % 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 ₦ 5,091.75 to during March, and April.
Based upon to the price in Uruan (cities & towns), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is ₦ 3,816,667. In December This price remains at ₦ 3,816,667. During the following two months (January, February) the average price had a considerable reduction of 50 % 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 ₦ 2,862,500.25 to , which means a 0 % fall.