A small apartment or flat, especially a small self-contained living unit; a studio apartment or tiny flat.
From 'flat' (British English for apartment) + diminutive suffix '-let', similar to 'piglet' or 'streamlet'. Common in British English to describe small rental units.
The British just add '-let' to everything to make it small and cute—'flatlet,' 'eaglet,' 'droplet'—so a tiny apartment is adorably called a 'flatlet,' which sounds much cozier than saying 'small studio!'
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