The housing crisis is escalating worldwide, with properties attracting hefty rents and sale prices. A property advertisement in Sydney, Australia, has brought to the fore the critical levels at which housing stands. A man has put up his balcony for rent, that's right, just the balcony. The balcony has been described as a "sunny room" on Facebook Marketplace and has a single bed and a mirror, along with a few other amenities. The asking rent for this balcony is $969 (nearly Rs 54,000), a month, including bills. 

Sydney's real estate market

Notably, Sydney’s rental price hit a record $750 (approximately Rs 42,000) in June 2024, as per data from real estate company Domain. Leading the list is Lakemba where rents have gone up by 31.6 per cent to $500 (approximately Rs 28,000) per week over the past year.

Dr Nicola Powell, Domain’s chief of research and economics, said, "The strongest rates of rental growth particularly for units is at that lower end. It is showcasing how stretched Australians are. Affordability is at the forefront of renters’ minds. We have seen unit rents see stronger rates of consistent growth compared to houses over the last couple of years."

Last year, a similar rental listing made its way to the internet when a landlord tagged a balcony for $300 rent (Rs 17,000). It carried a small bed, and included all bills with access to WiFi, some food items and cooking utilities, and basic cleaning supplies. The renter could also use the swimming pool, gym and squash court, however, only single men could rent it.