The exact square-meterage is up for debate, but most property advisors say a very small apartment will have the banks concerned.
“Each bank varies, but 40 square metres can be a cut off for many,” Greville Pabst, head of property advisory WBP Property Group, says.
“Because they’re really small, therefore their marketability is challenged in the future and banks don’t like that. In the situation where they might have to take possession, they want to be able to get their money back.”
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