Tiny Potts Point home sells for an eye-watering $300K

With Sydney real-estate prices at an all-time-high, buyers continue to be gobsmacked by the staggering property prices — add to all the hype, this 16 square-metre studio in Potts Point, Sydney, has just sold for an eye-watering $280,0000.

The studio is the size of a two-car garage, with the living room measuring just four-point-four by four-metres. It's equipped with a kitchenette, ensuite-style bathroom that comes with a sliding door, and a mirrored feature wall, to give the illusion of space.

Although petite in its size, real estate agent Tristan Bassey of Ray White Elizabeth Bay said “It was purchased by an investor and they should get a good return”.

Located near Kings Cross Station, Potts Point cafés and minutes away from Sydney’s CBD, the apartment, which is currently leased as short-stay accommodation until November 2018 with Quest Potts Point is currently rented out for $350 a week. 

Mr Bassey said "banks can be reluctant to lend on these kinds of apartments because they view it as a commercial property, but they can be a good investment.”

Photography: Tristan Bassey of Ray White Elizabeth Bay