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The price per square metre for the small but mighty Bondi Beach apartment is more than ten times the median.

Sydney Studio Apartment: Small Space, Luxury Real Estate

Despite its seemingly modest price tag of $450,000, a tiny Sydney studio apartment has caught the attention of the real estate world. Located in the iconic Bondi Beach area, the apartment is priced at a staggering $28,409 per square meter, making it one of Sydney’s most elite addresses.

A World-Famous Location

The Bondi Beach apartment, located at 21/68 Gould Street, measures just under 16 square meters. Its price per square meter is more than ten times the median for Sydney, which is $2,466 according to Domain 2023 data. The Australian per-square-meter price record is held by another Bondi Beach apartment, which sold for $126,000 per square meter.

Hotel Room-like Living

The Gould Street studio apartment is similar to a hotel room, with a single living and bedroom space that includes a kitchenette with a four-burner stove top, bar fridge, and microwave shelf. A separate bathroom with a shower is also included. However, the apartment does not come with a car park.

Iconic Bondi Beach Just Steps Away

The “wow” factor of this tiny apartment is its prime location, just 100 meters from the famous Bondi Beach. This makes it an attractive investment for those who value the beach lifestyle and proximity to the ocean.

Comparing with Other Apartments in the Building

No other apartments in 68 Gould Street have sold this year, according to Domain public records. However, two apartments traded in 2022 for sums of $702,500 and $750,000. The higher-priced apartment was a one-bedroom, one-bathroom unit with a car space, featuring industrial-style fittings and polished floors. The $702,500 property also has one bedroom, one car space, and one bathroom, with plantation shutters on the windows and subway tiles in the kitchen.

Median Apartment and House Prices in Bondi

Due to a low volume of sales, the median apartment and house prices in Bondi are not currently available. However, the record-breaking $24 million apartment in the area offers stunning views of Icebergs, the golden sand, and breaking waves, with glass concertina doors opening to a deep, ocean-front deck.

Bondi Beach Property Record

The property record for Bondi Beach is $29 million, paid for James Packer’s former home, which also hosted pop star Ricky Martin in 2013. The luxurious property features a gym, cinema room, and basement garaging for several cars.

In conclusion, the small but mighty Bondi Beach studio apartment proves that size isn’t everything when it comes to luxury real estate. Its prime location and staggering price per square meter make it a unique and noteworthy piece of property in Sydney.

Orginal article: Link To Article – provided by Kansas City Realtors