The Swedish furniture retailer is expanding its market to include ready-made and modestly-sized homes. Already selling well in Scandinavia, the homes are part of a new plan to address Britain's affordable housing shortage.
"The Ikea houses - known as BoKloks in Scandinavia, Swedish for "live smart" and pronounced "booklook" - are being launched by the flatpack furniture group as a solution to Britain's lack of affordable housing."
"Flats will be priced at under £100,000 and the company said it expects to sell three-bedroom houses, even in south east England, at less than £150,000."
"Live Smart @ Home, part of the affordable housing provider, Home Group, plans to roll out the concept nationally over the next couple of years and aims to produce 500 homes a year by 2009. It will be talking to local councils, developers and regeneration bodies such as English Partnership about setting up sites."