I'd like to know if I could create a player town or does it have any requirements.

Currently, there are no inhabitants except for me

It's a player created concept, from my understanding. If you call it a town, it's a town

It's technically a town but in order for it to be an official town (i.e. Dunton) it has to have at least 15 active members and the builds have to look decent and not be an eyesore to others. If you meet those requirements your town can have a warp created to it.