Real estate prices have been rising steadily in recent years, and London is one of the cities best known for its high property prices. A micro-apartment measuring just 7 square meters in the Lower Clapton neighborhood of East London was recently sold at auction.

How much do you think was paid for this property?

The apartment sold for US$122,000, 80% more than the reserve price set at the auction, which was conducted by the online auction platform My Auction. The current tenant pays US$1,100 a month and uses it a couple of times a week as a temporary place to stay. Setting up a livable space—including a bed—in 7 square meters requires a great deal of imagination. In this case, the bed is situated on top of bookshelves, shelves, and a microwave.