"Tiny Houses" may be an impractical fad for most, but the hankering for smaller, more efficient, more well-designed homes is reaching critical mass. The BBC covers how young Americans want to live in the expensive city, too—and the developers salivating over them.
David Wex, partner at Urban Capital, developers of Toronto’s first micro-condos, Smart House, said there is plenty of interest from students, downsizers, and those who are tired of long commutes.
“Torontonians know what it means to have great stores, cafés and bars outside their door,” he said via email. “For those looking for a central location, [flats of] this type, design and price point is a great option.”
Urban Capital has sold 220 of 250 units currently under construction. They range from 26.7sq metres (288sq foot) to 72sq metres (778sq foot) and are priced between $250,000 Canadian ($200,000) and $550,000 Canadian ($440,000).
In London, apartment developer Pocket Living is selling 38sq metres (409sq foot) units between £190,000 ($282,000) and £260,000 ($386,000) in boroughs inside Zones 1-3 like Hackney, North Camden, Lambeth and further out in Lewisham.
Indeed! Why rent out a 1000 square ft property for $4,000 a month when you can rent four 250 square foot hutches for $2,000 each and sell it as tiny house living?
Previously: The couple that quit renting to live in a tiny house
