Well known for its Swedish style and stores that offer more than just furniture, Ikea have now entered the affordable homes market in the UK, the idea behind this is to bring a concept developed in Scandinavia several years ago.

The first site if planning consent is given will be built in Gateshead, right up in the north of England, this will replace existing social housing being managed by the local authorities.

First time buyer are finding it increasingly harder to get a foot onto the property ladder in most parts of the UK nowadays, with the average house being around £100,000 ($200,000) what with charges and other fee, new home buyers are unable to scrape a large deposit and are therefore being forced into taking out higher home loans, which is risk should interest rates go up.

In this scheme, it is shared ownership aimed at people on lower salaries, they will buy a small percentage
of the home and then pay rent on the other part, then as their circumstances improve they will be able to buy more of the home until they own the whole property or decided to sell up and move on.

These particular apartments are designed to offer a lot of space and light, which gives the sense of living in a larger property; they are designed to the highest standards with an open plan layout, high ceilings and big windows.

The plan is set to get the go ahead very soon and should make way for many more developments like this.

Source  [GizMag]