Ikea, the iconic Swedish home-furnishing retailer, has made a move in the UK that, if you think about it, is entirely logical.
From yesterday’s Financial Times:
Ikea [...] is to launch its own range of houses in Britain. The timber-framed homes – known as BoKloks – have been pioneered in Scandinavia by Ikea and the Swedish construction company Skanska. But now they are being brought to Britain as an answer to the country’s lack of affordable housing. Fortunately perhaps for those well used to the phenomenon of the missing part or allen-key wrist – the homes come ready built.
[...] The company expects to sell flats for under £100,000 and market three bedroomed houses, even in south-east England, for sale at less than £150,000. The homes will all have high ceilings, double glazing and be fitted out with Ikea kitchens and trademark wooden floors. The first BoKloks are expected to be built in Gateshead, where building work is due to start early next year. Glasgow is next.
With every BoKlok development targeted to offer housing at least 20 per cent cheaper than comparable properties in the surrounding area, interest is expected to be very high. The developers expect such demand that they anticipate applicants who meet strict criteria, including having a household income not exceeding £30,000 a year, may have to be chosen by lottery.
Financial Times | Ikea to enter UK housing market
