An apartment in Kiama has sold for just $315,000.
The studio apartment at 317/2 Minnamurra Street, Kiama, located within the Sebel Harbourside complex, sold earlier this week.
The one-bedder features a built-in wardrobe, modern bathroom, and a lounge and dining area which extends on to the balcony.
But there is a catch behind the bargain deal - the new owners can only live in it for six weeks a year.
Selling agent, Abbey Murphy from First National Coast and Country said the serviced apartments were restricted by holiday zoning, which meant they could only be owner-occupied for 42 days in a 12-month period.
Ms Murphy said the new Sydney-based owner was planning to holiday let the property, and also utilise it as a weekender.
"A lot of people do think you can live in them (permanently), and are like, 'wow, I can buy something in Kiama for $300,000'," she said. "Then you have to explain it to them.
"There was a lot of out-of-area interest (in this listing), including people from Sydney who sometimes work down this way or holiday down here."
Ms Murphy said they also had multiple other studio apartments currently for sale in the same complex.
Elsewhere in the region, the owner of a property in Wollongong's northern suburbs has made a strong gain from the sale of their home.
The property at 1 Dalys Court, Coledale sold for $2.8 million earlier this week.
The three-bedroom home, sitting on 607 square metres, features an entertaining deck with electric shutters; and on the ground floor is a separate studio with bathroom opposite, which could be used as a teenagers' retreat, art studio or relaxation area.
CoreLogic records show the home sold after 35 days on the market, and that this was the first sale in the tightly-held street since June 2021.
Records also show the home previously sold in 2016 for $1,145,000.
The sellers had undertaken some work on the property, including opening up the living room, renovating the kitchen, and some landscaping.
Selling agent, Mattias Samuelsson from Ray White Helensburgh said it was sold to a Southern Highlands-based buyer, who liked the privacy, views and quiet location.
"Everyone who saw the house was quite taken with it, but due to the size and not having a backyard it wasn't going to suit everybody," he said.
"But it was perfect for the buyers, and represented good growth for the sellers."
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