Micro apartments: Affordable new homes with magical space solutions
As property prices and rents continue to rise, London’s housing crisis threatens to exclude all but the wealthiest residents from buying and renting in the capital. Thanks to residential developments in Nine Elms and Canary Wharf (where The Spire will provide 861 new homes), London’s residential property stock is gradually expanding. However, most of the new build homes offered by these developments are luxury apartments. The capital’s housing situation is now beginning to resemble that of New York, where the boom in building high-end apartments has posed a threat to the city’s diversity.
In NYC, to counter this, a new generation of "micro apartment" developments - affordable living spaces for singles and couples – has offered a lifeline to less-well off buyers and tenants, helping to preserve the city’s mix.
A micro apartment – also known as a micro flat – is a one room, self-contained living space designed to accommodate sitting and sleeping space, a bathroom and kitchenette, within a floorplan of between 4-10 square metres. These apartments promise to provide affordable homes for younger people who have previously struggled to get on the property ladder. Most micro apartments feature almost magical solutions to maximise the available space, with furniture that makes the most of every inch of the walls, and sometimes the ceiling.
Best of all, micro apartments are generally available in central areas where many buyers and tenants have previously found themselves priced out of the market. Happily, this means that young professionals are able to enjoy the best of London living, the great nightlife and a short commute to work, without paying an unrealistic premium for the privilege.
When you are looking for new build homes, London’s property market can seem daunting if you have limited funds. Expert advice and guidance is vital to help you find the right property at the right price.
Daniel Cobb is an award-winning, family-run estate agent whose work is based on the core values of honesty, support and trust. Our sales teams are particularly sensitive to the needs of young people looking for new homes in London, so you can be assured that we will always put your interests first.
We have a selection of modern, open-plan 1 bedroom flats for sale or to rent as well as several new builds for sale on our books which are sure to fall within your budget. Call us today to view some fantastic, accessibly priced properties.
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