Ikea, the Swedish company, is taking on the role of landlord in Japan by renting out a small flat in Tokyo.

According to specifications revealed by Ikea this week, the 10-square-meter (107-square-foot) apartment is located in Shinjuku and will cost just 99 yen ($0.86) per month to rent.

There is just one available flat, which comes completely equipped with Ikea furniture and accessories. Until December 3, the company is accepting applications from potential tenants who must be over the age of 20.

The flat will thereafter be rented out until January 15, 2023, according to Ikea. The tenant is responsible for their own utility expenses.

Although ten square metres isn’t much, Ikea claims to have worked hard to maximise the available space.

“One of the keys is to make good use of the vertical space,” the company said on its website. “By capturing the room three-dimensionally, new possibilities open up in a limited space.”

Tokyo is one of the world’s most densely inhabited cities, fueling the micro apartment craze. According to the Tokyo Metropolitan Government, it has a population of little over 14 million people.

Ikea is advertising its tiny house with the aid of Blahaj, a shark who appears in a series of YouTube promotional ads.

Blahaj’s persona is a real estate agent who specialised in small places. Blahaj, with the support of an Ikea interior design team member, lays out his concept for the little residence in the films.

This isn’t the first time Ikea has gotten into real estate.

BoKlok is a joint venture between the firm and Skanska, a Swedish construction company that has developed cheap modular homes in Sweden, Finland, and Norway.

In 2019, BoKlok introduced a new form of dementia care facility that allows patients to remain at home.

Bathroom mirrors were removed, and kitchen equipment were fitted with old-fashioned knobs rather than computerised controls.

(Adapted from CNN.com)