₦airaland Forum

Friends, I have been having some disturbances in the past few days and I decided to bring it up here to seek your opinion so as to make a better decision. I have a plot of land on a tarred road in a developing residential area and I have been preoccupied with the desire to build a block of flat with 4 nos 2 bedroom flats on it. Suddenly, I was taken abark that a block of shops will be better considering the level of furnishing the flats will require and the simplicity of the shops.

FYI, a 2 b/r flat goes for 400K in that area now and once completed, I hope to earn 4 x 400K = 1.6M per annum as rent (all things being equal).
On the other hand, a shop goes for 15K per month i.e. 15K x 12 = 180K per annum. The land can also take up to 10 shops which is 180 x 10 = 1.8M per annum as rent.

I am assuming that the 2 styles will cost the same amount to construct.

With your experience, is there any other thing I need to take into consideration? Or I should just go by the straight arithmetic above that shop is better?

Please advise.
Cheers!