Struggling young workers, priced out of the UK’s inflated property market and devoid of resources to rent increasingly expensive shared accommodation, may still have the chance to live in London. Enter the rise of hostel accommodation and microhouses.
The properties span studio flats with shared communal spaces and micro apartments, according to the Financial Times. They are aimed specifically at financially stretched young workers aged 20-39.
For many recent UK graduates, the cost of living in London has become too expensive, amid soaring rent and house prices . The city’s rising population growth is outpacing construction, driving rental and residential real estate prices upwards. As a result, young professionals are often left in a dire situation.