- Sydney studio with a loft-bed and a ladder next to front door has hit the market
- Property sits in the heart of Paddington, with median property price of $2.3m
- The bed, a kitchenette and a bathroom are all crammed into 10 square metres
A tiny Sydney studio with a loft-bed and a ladder next to the front door has hit the market.
The property sits in the heart of Paddington, in the city’s eastern suburbs, where the median price across houses and apartments is a whopping $2.3million.
But with the bed, a kitchenette and a bathroom crammed into 10 square metres, this pint-sized home can be snapped up for $319,000.
‘What you are buying there is a great location,’ selling agent Mitch Dansey from Di Jones Real Estate told Domain.
This tiny Sydney studio with a loft-bed and a ladder next to the front door has hit the market
The property sits in the heart of Paddington, where the median price across houses and apartments is a whopping $2.3million
He said the studio should appeal to investors and first-home buyers and claimed the property had been well received during open home inspections.
‘They rent really well, those apartments. But there’s a reasonable amount of owner-occupiers in the building too,’ he said.
Jessica Darnbrough from Mortgage Choice told the publication buyers need a substantial deposit to borrow money for properties under 50 square metres.
‘Where the deal may fall over is the lender’s mortgage insurer. Often they see those places as a bit too risky for them. If a borrower wants to borrow for that, they’ll need a guarantor or 20 per cent deposit,’ she said.
The loft bed, a kitchenette (pictured) and a bathroom are all crammed into 10 square metres
‘What you are buying there is a great location,’ selling agent Mitch Dansey said