Solly Assa: Living Alone – The Newest Trend that's Impacting the Housing Supply

Press Release (ePRNews.com) - NEW YORK - Mar 16, 2017 - All of a sudden, most Americans living in major cities are choosing to live alone instead of sharing their living space with their partners or other people, as it was the case. Today there is a variety of factors that have an impact on the life expectancy, such as lifestyle changes in urban areas and empowered unmarried women that are breaking the stigma attached and are fuelling this latest trend of living alone. Developer Solly Assa has been in the real estate business for decades now, and in his experience, this change is most certainly going to affect the housing supply. According to official data from the Bureau of Statistics, starting from 2011, the number of single-person households have been continually rising, which means that the demand for one-bedroom apartments or studios that are most suitable for singles has far surpassed the supply. Experts forecast that by the year 2036, the demand will increase dramatically, and it will be the fastest growing household type.

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Currently, this one-bedroom apartment demand is happening at both ends of the spectrum. Thus, at one end we have an increasing number of older people living alone, but at the same time, there are also many younger people that choose to live alone. NYC businessman and developer Assa sees one issue in this whole situation, and that is the supply of suitable housing and its price. Since little is being done to address this issue, Assa decided to take things in his own hand, and try to change the old fashioned method, and set the bar higher for the millions of singles living in the U.S., particularly in New York, by developing and investing in mixed-use urban residential buildings, that fit perfectly the needs of these people.

For the time being, two-bedrooms apartments make up 64% of the housing market, three-bedrooms make up 16%, and only 19% of new apartments are or one-bedroom apartments or studios. Being a man of visionary ideas has allowed Solly Assa to come up with new, solid solutions that dictate what developers can and can’t do.  In the future, he hopes to see more studios and one-bed built and being sold at a lower price because that could bring balance in the currently shaky housing supply.