Australia’s housing crisis is showing no signs of slowing as a tiny studio apartment with no kitchen and a shared bathroom has raised eyebrows for it’s high price tag.
The pint-sized apartment on the edge of the inner-Sydney suburb of Surry Hills is being listed as ‘affordable student accommodation’ for a whopping $600 per week.
The listing boasts ‘modern en-suite rooms’, free WiFi, a ‘study area’, a kitchenette and a gaming room but the depressing pictures tell a different story.
A bar fridge sits in the corner and a small desk and chair are under the window while two single stained mattresses have been crammed against the far wall.
Tenants will have the room to themselves but have to share an en-suite bathroom, kitchen and communal lounge area with no mention of laundry facilities.
A pint-sized apartment in the inner Sydney suburb of Surry Hills is being listed as ‘affordable student accommodation’ for a whopping $600 per week.
In the listing, the building was described as ‘an excellent choice for students seeking comfortable, convenient, and affordable accommodations in Sydney.’
It’s also listed as being ‘in’ trendy Surry Hills, however it is technically in Redfern.
Renters were shocked be the ‘extortionate’ asking price and vented their frustrations online.
‘Don’t all apply at once. Sydney rental market is a good time,’ a Reddit post read with a screenshot of the $600 listing.
‘Oooh fridge in the bedroom. Take my money,’ someone sarcastically replied.
‘Yellow is an unfortunate name for a real estate considering the colour of that bed stain, lol,’ laughed another.
‘$600 for a studio? Yeah I’m happy paying $2k for it,’ a third added.
The listing boasts ‘modern en-suite rooms’, free WiFi, a ‘study area’, kitchenette and gaming room but the ‘depressing’ pictures tell a different story
Adam Flynn, Victorian State Director of the Coronis Real Estate Group, advised that the best way for tenants to battle the housing crisis was to reassess their lifestyles and make a judgement call based on their priorities.
‘Opportunistic landlords are no doubt taking advantage of the economic situation to line their purses,’ the real estate expert told FEMAIL.
‘Renters need to judge whether a substandard living environment at an overinflated price is worth living in the CBD.’
‘Many can move 10 or 15 kilometres out of the city and have a better quality of life at a reasonable price – but they will have to make the sacrifice of travel for study and work,’ he said.
Previously, a tiny studio was dubbed a ‘prison cell’ after it was put up for rent on Flinders Street in Melbourne’s Central Business District for $320 a week.
The space can fit a queen bed and comes equipped with a wall-mounted television, sofa, microwave, and single electric fridge.
Flynn explained that the market has experienced ‘significant drops’ with buyers unwilling to purchase and owners reluctant to sell.
‘Some people are opting to rent at whatever cost – which is why tiny studio apartments can go for $320 a week despite being clearly outrageous.’
‘If someone doesn’t quite care about the space and just needs a bed and pillow to rest their head on when they get back from work, then I see the place being rented eventually.’
A tiny studio that has been dubbed a ‘prison cell’ has recently been put up for rent on Flinders Street in Melbourne’s Central Business District for $320 a week
Australian renters are in the trenches of the country’s housing crisis as the number of ‘outrageous’ and ‘unreasonable’ homes available for rent increase by the day
Flynn described the situation as a ‘Mexican standoff’ where renters, buyers, and landlords are all suffering due to the state of inflation and interest rates.
‘Any reasonable person would call renting that property for $320 a week outrageous,’ he said.
Other amenities available at the Flinders street property include a bathroom with a shower and a shared washer and dryer on the floor for $4 per use.
Flynn went on: ‘The reality of supply and demand allows such properties to go up – and be rented – for even higher amounts.’
‘It’s definitely not fair or logical, but it’s a sign of the times,’ he added.
The run-down studio apartment also has stained walls, dirty floors, and outdated pop corn ceilings.
The Flinders Street property has further been marred by other renters bashing the terrible state of the building.
‘The building this is in is horrible,’ a Melbourne renter said. ‘It has a central open atrium with a pool on the ground, but it’s like something out of a horror movie.
The space can fit a queen bed and comes equipped with a wall-mounted television, sofa, microwave, and single electric fridge
Several others were shocked by the high price on the ‘prison cell’ of a studio apartment after the listing went viral
He added, ‘I went for an inspection there and the lift nearly got stuck, the pool was empty and full of mosquitoes, and the railings and landings for each floor looked uneven. I’m not sure how it’s safe for tenants.’
Several others were shocked by the high price on the ‘prison cell’ of a studio apartment after the listing went viral.
‘What has the world come to? It’s beginning to cost more to live than I make in a week,’ a woman wrote.
‘The poor and mid-earners are getting f***ed everywhere we turn,’ a man said. ‘It’s absolutely unbelievable what it has come to. Technology gets better but everything stays the same or gets worse for us.’
‘Prison cells are bigger than that apartment – there’s no place to breathe,’ another wrote.
‘Is it better to just go to prison? At least there’s no need to pay rent,’ a man joked.
Another said: ‘I can see the mould just from the photos. Unbelievable.’
***
Read more at DailyMail.co.uk