'Bedroom' on sale for $270k

by Caroline Dann31 Aug 2012

At 16 square metres with a selling price of $270k, a Bondi Beach pad could be Australia's most expensive 'bedroom'.

Agent Kiel Glass told a news site the apartment was perfect for a single person or investor "wishing to enter a sought-after beachside location."
"I'm very confident it's going to sell," he said.
However, a local broker dampened spirits by claiming banks would be reluctant to fund such a small space.
"The general rule of thumb is anything under 50 square metres internally (not including the balcony, car spot of outdoor living areas) is hard to get finance for," Mortgage Choice Surry Hills broker Mark Sourintha told News.com.au
"Some of the bigger banks have a credit risk appetite so they might take on smaller properties, but 16 square metres? That's ridiculously small - it's like the size of a balcony," he said.



  • by Marc 3/09/2012 10:08:48 AM

    How dare the broker point out bank credit policy and 'dampen the enthusiasm' the real estate agent had created with the buying public. I can see the real estate ad now:

    Astonishingly space efficient luxury party pad in sought after world famous Bondi. Bathroom facilities cunning designed to add to the jet set feel by resembling the toilet on a 737, the gourmet kitchen is for the serious entertainer located next to the ballroom area....

    This article really does show where the flim flam (real estate agent's view of reality) meets real life.

  • by Keith 3/09/2012 4:43:12 PM

    Fantasic comment Marc. Haha