The average price in the Akwa Ibom region has had an strong increase in recent months. There has been a strong inflation in the prices in this region.
The price per m² in Akwa Ibom has increased strongly in the last 6 months. During November, the average price per m² was ₦ 13,372. In December the price pretty much stayed the same at ₦ 13,372 per m². The following two months (January, February) went through a considerable deflation of 51 % in the price per m² with regard to the previous two. In the last two months, the price per m² has had a significant increase of 378 %. This has been obtained by comparing the price of ₦ 10,076.5 for the first four months of the sample with regard to the previous 4 months and the price of ₦ 38,049 per m² for the last two months (March, April).
Based upon to the price in Akwa Ibom(region), this has decreased considerably in the last 6 months. In the first month sample November the average price is ₦ 4,694,118. In December the price was the same at ₦ 4,694,118. In the following two months the average price has decreased 51 % compared to the previous two. During the last two months the price has had a considerable reduction of 45 % with respect to the previous four months going from ₦ 3,542,647.25 a ₦ 1,583,333.5.
The graph displaying the the average price per number of bedrooms shows that those with 4 bedrooms are the dearest ones. They are 563 % more expensive than the average price in Akwa Ibom followed by those properties with 1 with an average price of ₦ 23,340,504. The most costly properties have 1 bedroom. They are 637 % more expensive than the average followed by those properties with 4 bedrooms priced at ₦ 20,985,593.
Based on the average price per m² those properties with 1 bedroom are the cheapest ones with a price of ₦ 21,249 / m² being ₦ 76,098 / m² the average value within the Akwa Ibom region. The properties with the cheapest average price are those with 4 bedrooms. These are 67 % lower than the average followed by those with 1 bedroom with a price of ₦ 21,249 / m².
The graph displaying the average price according to the property type shows "House" as the most costly one. With an average cost of ₦ 3,166,667 it is 555 % more expensive than the average in Akwa Ibom. This is followed by "Bungalow" with a price of ₦ 20,943,641. The dearest property type is "Flat" and is 563 % more expensive than the average, followed by "Bungalow" with a cost of ₦ 20,943,641.
Based on the average cost per m² the cheapest property type is "House with a an average cost of ₦ 24,754 / m², followed by "Bungalow" with a price of ₦ 24,979 / m². "Flat" with an average price of ₦ 25,031 / m² is the cheapest type of property followed by "Bungalow" at a price of ₦ 24,979 / m².