REMI Predicts Micro-Apartments as New Trend to Watch

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The Real Estate Marketing Insider predicts an emerging trend of micro-apartment living that is gaining traction in New York City and other large American cities, after NYC Mayor Michael Bloomberg recently launched a competition for micro-apartment designs.

The Real Estate Marketing Insider came out in support of a new trend developing in New York City: “micro-apartment” properties that take up no more than a few hundred square feet. The Insider said that as inventory continues to thin in big cities, properties that do more with less space would become attractive choices for home buyers, making them good portfolio additions for realtors.

According to a press release in Life Inc., New York Mayor Michael Bloomberg announced the kickoff of adAPT NYC, a contest for designers to draw plans for 1-2 person apartments that take up no more than 370 square feet. Apartments of that little space may sound impossible, but micro-apartments are already a major part of Tokyo and Hong Kong’s real estate markets, and have become more popular in the States recently. Through moveable walls, expanding furniture, and fold-away beds, the challenge for designers is to make each space serve multiple functions.

This is an exciting trend in real estate, and the Insider expects it to take hold quickly in big cities. Especially in markets like Philadelphia, New York City, and San Francisco, where sprawl is tough and space is already at a premium, a tight-quarters option for city living will appeal to investors, developers, and buyers. REMI also advises its home buyer readers, especially young singles, to seriously look at micro-apartments. These properties are a great way to get the benefits of inner-city living without having to pay the traditional high rents of studio and one-bedroom apartments. Speak with a realtor, and be on the lookout for real estate postcards advertising properties of this kind. They’re already built in New York and San Francisco, and REMI expects more markets to follow suit soon.

The Real Estate Marketing Insider advised readers to watch for the upcoming trend of “micro-apartment” living in big cities. Born in Asian markets like Tokyo and Hong Kong, micro apartments are usually no more than 450 square feet and are designed to have multi-purpose surfaces and furniture with all of the functions of traditional larger apartments. In real estate markets where space is running out, REMI expects these properties to be big news.

About Real Estate Marketing Insider:
The Real Estate Marketing Insider is an online newsletter that caters to anyone in the real estate business - buying, selling, or investing. REMI provides breaking news, investor tips, and watches for industry trends that could change the market.

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