Viability between 2bd, 1bd and bedsitter project for rent at Thika.
This area is generally middle class so we will assume middle class finishes estimated at KES 30,000 per m2.
An average middle class 2 bedroomed is 60m2 in plinth area.
An average 1 bedroomed is 30m2 and bedsitter is 16m2.
The cost for the 2bd =60m2 x kes 30,000=kes 1.8m
Cost for 1 bedroomed =30m2 x kes 30,000=kes 900k.
Cost for bedssitter =16m2 x kes 30,000=kes 480k.
Return on investment in rent.
Rent for 2 bedroomed =kes 20,000
Rent for 1 bedroomed=kes 10,000
Rent for bedsitter =kes 5,500.
Repayment period for 2 bedroomed=kes1.8m/kes 20,000/12=7.5 years.
Repayment period for 1 bedroomed =kes 900k/kes10000/12=7.5 years.
Repayment period for bedsitter =kes 480k/kes 5.5k/12=7.2 years.
From the above, it’s clear that all these types of housing units have more or less the same repayment period. They are all equal in terms of viability.
Francis Gichuhi Kamau, Architect.