• Ikea Japan is venturing into the real estate market and leasing tiny apartments in Shinjuku, Tokyo.
• For under $1 a month, one can rent a fully-furnished mini home under Ikea's "Tiny Homes" campaign.
• The homes are 107-square-feet split-level loft apartments, with room for a kitchenette and bathroom.

Ikea is venturing into the real estate market and leasing apartments in Japan for less than $1.

As part of its new campaign, "Tiny Homes," Ikea is renting out 107-square-foot apartments in the buzzy Shinjuku neighborhood of Tokyo for just 99 Japanese yen (equivalent to $0.86).

The company released a floor plan of the apartments this week, showing how the split-level space will be divided. According to the floor plan, the space is a loft-style area with a stepladder, with the first floor being where the entrance, kitchenette, bathroom, and washing machine go. 

While utilities will be paid for by the tenant, the apartment will come decked out in Ikea furniture designed to fit into the snug space. 

Ikea has employed the use of its famous toy shark, Blahaj, to promote the homes. The "Blahaj real estate offices" in Tokyo, where people can get more information about these tiny apartments, will be open from November 11 to 30 at Ikea's Shinjuku store, and from December 1 to December 3 at Ikea Japan's Shibuya outlet.

A post shared by IKEA JAPAN (@ikeajapan)

The tiny homes will be rented out on short-term leases until January 15, 2023, per Japanese digital media outlet Sora News. Those who want to send in an application to get one of these apartments also need to apply for a free Ikea Family membership to qualify. 

A spokesperson for Ikea Japan told Insider that at the moment, one Shinjuku apartment is currently up for grabs. The spokesperson declined to comment on how many people have appplied for it.