IKEA Japan is offering a stylish 10-square-meter apartment in Tokyo for less than $1 per month

IKEA may be best known for its affordable furniture, but it seems the Swedish company is venturing into other areas, specifically real estate.

The Scandinavian conglomerate has designed a completely furnished small apartment in the Shinjuku district of Tokyo, and rent costs less than your daily cup of cappuccino at only 99 yen ($0.86) per month.

The 10-square-meter (107-square-foot) home features signature IKEA furnishings and accessories, including the convertible VALLENTUNA seat and the IVAR unit.

IKEA Japan hopes to teach consumers how to maximize the use of vertical space with its “Tiny Homes” campaign, and their decor encapsulates this idea. They suggested looking at the room as a “three-dimensional space” as it opens up “new possibilities” in tiny rooms.

“During the pandemic, consumers are spending more and more time at home,” IKEA said in a news release. “Urban consumers in their twenties and thirties, in particular, are increasingly stressed by the small space of their rooms. IKEA offers them the opportunity to experience affordable refreshment and solutions for better home living in a fun and inspiring way.”

In the apartment, IKEA used affordable furniture that would make tiny living possible. The VALLENTUNA sofa turns into a bed for guests, and the IVAR shelving unit can be adjusted to fit into the space and the items it holds.

These shelves were paired with the MUDDUS, a multi-functional drop-leaf table that’s perfect for folks working from home.

IKEA has also decked out the apartment with accessories like the SYMFONISK speaker lamp and the TRÅDFRI, which allows you to connect smart IKEA products and control them with the IKEA smart home app through a smartphone or tablet.

As the apartment was designed to emphasize the use of vertical spaces, IKEA installed a narrow ladder that leads up to the mezzanine bedroom. IKEA included a minimalist bed set, several potted plants, and a statement artwork in the lofted sleeping space.

The apartment also features a compact wardrobe, kitchenette, full bathroom, and washing machine.

Only one unit of this tiny dwelling is available, and aspiring tenants—who must be over 20 years old—must create an IKEA Family profile to sign up. The company began accepting applications on November 24 and closed it on December 3.

The apartment will be rented out with a lease until January 15, 2023, so it’s ideal for people looking for a short-term arrangement. Tenants will have to shoulder their own utility bills.

Tokyo is home to just over 14 million people, making it one of the most densely populated cities in the world. Here, micro-apartments are nothing new.

The Shinjuku district, located on the city’s east side, is a bustling location known for its nightlife attractions. It is home to roughly 346,000 people.

IKEA is promoting the tiny home with the help of Blåhaj, its iconic shark real estate agent, who features in a series of promotional videos posted on YouTube. In the clips, Blåhaj presents his vision for the tiny apartment with the help of an IKEA Interior Design Team member.

On top of his real estate duties, Blåhaj is also a famous stuffed shark toy that you can purchase at IKEA stores worldwide.

Take a tour inside this stylish tiny apartment with affordable furniture in the video below.

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