New York major promotes 'micro apartments'

New York plans to build shoebox-size apartments to cater for young singles priced out of the housing market, CNN's Richard Roth reports.

New York City Mayor Michael Bloomberg has launched a tender for the construction of 'micro apartments' in the Big Apple, where rents are exorbitant and the number of singles is on the rise.

Mr Bloomberg explained it was critical to the city's continued growth, future competitiveness and long-term economic success to develop "housing that matches how New Yorkers live".

The project is slated to respond to the changing demographics of a city where 1.8 million households are composed of one or two people, but there are only 1 million studios and one-room apartments, the mayor's office said.

CNN's Richard Roth reports.