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Sydney has a strict lending environment and small apartments are popula

Photo of (real estate website Realestate, small apartment for sale on Springfield Street, corner of Sydney)


The sydney's small apartment means that the household is forced to cook at the bed, but this sort of return is rather high.

Demand for small apartments has soared as banks restrict large home loans, according to real estate website Realestate. These apartments tend to cost less than A $500000.

The surge in demand has led to a series of small apartment deals, including a 24-square-meter one-room apartment on (St Neot Ave), San Antonio Avenue, (Potts Point), Cape Burz, which was traded for A $335000 last week.

The average area of an apartment in Australia ranges from 90 square meters to 120 square meters.

Other recent deals include three 22-square-meter single-bedroom apartments in Urtimo (Ultimo), with prices ranging from A $190000 to A $210000. In addition, a 23-square-meter apartment in (Bondi Beach), Bundy Beach, changed hands for A $395000.

Experts remind that buying small apartments that look cheap are``fake savings'' , and that the unit price per square meter is actually higher than other types of housing.

(Springfield Ave), Springfield Street, Cape Sydney, is currently selling a 20-square-meter one-bedroom apartment for A $400000 per square meter, compared with A $20, 000 per square meter.

By contrast, billionaire Mike Cannon-Brookes spent A $100m on 1.12 hectares of homes in Cape Burz at a unit price of about A $8928 a square meter.

Real estate intermediary Hick (Nuri Shik) said buyers did not flinch because of the small size of the apartment. Some buyers plan to hang it on the Airbnb platform for short rents, but most plan to live on their own.

Because of the location of the apartment, buyers are willing to tolerate small living space, Hick said. They are just looking for an affordable place to live near the city.

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