Are ‘micro flats’ the answer to London’s housing crisis?
Properties in central London are now only affordable by the ultra wealthy or those living in what social housing remains. With this in mind, developers are resorting to building tiny homes in order to meet the demand of young professionals.
One such company, London-based firm U+i is a developer working on plans to build thousands of flats in the centre of the capital which are around half the recommended size. The properties, aimed at professionals who would struggle to afford the rents of standard properties are to be built in central London but be made at London Living Prices, which are set by boroughs and are based on a third of the average household income.
Such is the demand for small properties that John Lewis is working on a new range of furniture for small flats in order to capitalise on the trend.
Housing charity Shelter, however, warns that allowing some developers to circumvent existing space standards and build smaller homes could result in a decline in quality.
Full story available in The Telegraph: http://www.telegraph.co.uk/business/2017/09/10/londoners-turn-micro-flats-risk-pushed-city/