Tiny Brisbane apartment sells for big price

The sale, to a New Zealand buyer, proves that in the right address, size is no barrier to a strong result.

The compact second level residence at the Art Deco landmark sold fully furnished and without a car park, with the $13,978-per-square-metre result reflecting the premium buyers will pay for heritage, location and character in Brisbane's CBD.

The building has deep roots in Australian history.

Ray White himself established his first Brisbane city office in the Queen Street building in 1924, next door to the General Post Office, a location he believed gave his fledgling business the recognition it needed. The building later served as General Douglas MacArthur's headquarters during World War II.

Sales agent Sukhraj Singh Nijjar of Ray White Toowong said the sale was a reminder that well-located inner-city stock didn't need to be large to attract serious buyers and that Brisbane's unit market was running hot.

"Forty four square metres, no car park, fully furnished and an overseas buyer didn't hesitate. That tells you everything about where confidence is heading in Brisbane's CBD. The address did the work," he said.

"Brisbane apartments are arguably the strongest segment in the market right now."

Mr Nijjar took 22 buyers through the property during its 17 day campaign.

“I also sold a 2-bedroom apartment in the building for $985,000 off-market to a local buyer after one inspection. That unit was renovated but only has 2 beds, 2 baths, and no car park as well,” he said.

Brisbane's unit market continues to outperform the house segment, driven by affordability pressures pushing buyers toward higher-density stock and generous first home buyer incentives sustaining demand from owner-occupiers. The result is a market where well-located apartments, even compact ones, are drawing genuine competition and achieving prices that would have been unthinkable a few years ago.

Brisbane's inner-city apartment market has seen sustained interest from offshore buyers seeking a foothold ahead of the 2032 Olympic Games, with the unit sector's resilience underpinned by structural demand that shows no sign of easing.