17sqm Bondi unit listed for crazy price

The eye-watering price for a tiny studio apartment on busy Bondi Beach has revealed the dire state of Sydney’s property market.

Sydney has once again defended its title of most expensive real estate market in Australia with an eye-watering price guide for a tiny studio apartment.

The single room with an ensuite measures up to 17 square metres for the whole apartment, with the widest wall coming in at just 3.7 metres.

With the unit up for auction in early December, Ray White real estate agent Angus Gorrie put the price guide at $450,000.

There's little space to put belongings in the unit.

The main room is just 17 square metres. Photo: Ray White

The biggest drawcard for interested buyers was the “great location” according to Mr Gorrie, with the unit just 100 metres away from Bondi Beach.

“A sunny aspect and large entertainers communal balcony makes this apartment the perfect beach pad or investment in one of Sydney’s most desired lifestyle locations,” the listing reads.

“With a strong rental return and first class position this is an excellent opportunity to secure your slice of Bondi Beach real estate.”

While the price tag may seem steep for the size, Mr Gorrie noted that it was “rare” to see a property sell for less than $500,000, let alone so close to Bondi Beach.

The studio is located just 100m away from Bondi Beach. Photo: Ray White

The small kitchen contains an oven, stove, sink, and space for a small fridge.

“I haven’t sold anything like that this year, and I’ve sold 90 properties,” he said.

Mr Gorrie noted that the location would also be a strong pull for any renters, and any investors could expect to pull in $450 to $500 per week in rent.

Any potential buyer, or future tenant, will have to figure out how to slim down their furniture to fit in the room, with little more than room for a bed and table in the unit.

Not only that, but any cooks looking to live in the unit would also be limited, with only a two burner stove and small oven to cook with.

Described as having “large shared bedroom/living space”, the apartment is also advertised as being in a “quiet position to the side of the building” in a “boutique security block”.

Originally published as 17sqm Bondi unit listed for crazy price