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Ikea gets green light to build affordable homes in UK

Homebuyers in a town where properties typically cost almost 12 times local salaries may soon have a low-cost option from Ikea after a UK council agreed to work with an affordable housing developer co-owned by the retailer. Worthing council has signed up with BoKlok, a company jointly owned by the Swedish retailer and construction firm Skanska which specialises in factory-built housing that can be constructed at a low cost. The firm sets property prices so that buyers have money left to live on after they have paid their housing costs, and its website says “a single parent can afford to buy and live in a newly built two-bedroom BoKlok apartment”. It has built 11,000 homes across Sweden, Finland, Denmark and Norway, and is keen to break into the UK after a false start more than a decade ago. Further homes may follow, with the council and BoKlok agreeing a programme to provide 500 homes in the borough.

- The Guardian -

 

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