Japan: Ikea is offering a tiny apartment in Tokyo for less than $1 per month

The 10-square-meter (107-square-foot) apartment is located in the Shinjuku district and will cost just 99 yen ($0.86) to rent, according to details published by IKEA this week.

Only one unit is available, which is fully furnished with IKEA furniture and accessories. The company is accepting applications from prospective tenants, who must be over 20 years old, until December 3.

Ikea said the apartment will then be leased on a lease until January 15, 2023. The tenant will have to pay their utility bills.

Ten square meters is not a lot, but IKEA says it has worked hard to make the most of the available space.

“One of the keys is making good use of vertical space,” the company said on its website. “By taking over the 3D room, you open up new possibilities in a limited space.”

Tokyo is one of the most populous cities in the world, leading the trend towards compact apartments. It is home to just over 14 million people, according to the Tokyo city government.

Ikea is promoting its tiny house with the help of a shark named Blahaj, which appears in a series of promotional videos posted on YouTube.

Balhaj’s character depicts a real estate agent who specializes in small spaces. In the clips, Blahag outlined his vision for the small apartment with the help of a member of the IKEA interior design team.

This isn’t the first time IKEA has been involved in a property.

The company has a joint venture, BoKlok, with Swedish construction company Skanska, which has built affordable modular homes in Sweden, Finland and Norway.

In 2019, BoKlok launched a new home style for dementia patients, designed to allow them to continue living at home.

Design tweaks included removing mirrors from the bathrooms and installing kitchen appliances with antique knobs in place of digital controls.

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