The scale of London's property boom was highlighted on Tuesday when a shoebox studio flat barely big enough to fit a double bed and a sink was snapped up by eager renters less than 16 hours of being advertised, despite costing 170 a week or 737 per calendar month.

Photographs of the flat, on Kember Street close to King's Cross, reveal a small single room into which has been crammed a double mattress, a small glass table and upright chair, a narrow wardrobe and a number of fitted kitchen units.

Despite its compact scale, Stephen Boochon from the estate agents Relocate Me said his firm had received about 20 emails and a larger number of phone calls since the property launched on the rightmove.co.uk website in the early hours of Tuesday. We had a fair bit of interest, I would say, he said, before the property was let later the same day.

Though no dimensions are included in the advertised details, there appears not to be enough room to fully open the front door or kitchen cupboards, and barely enough space to walk around the bed. Boochon said the property was owned by a local landlord, adding that it had a separate toilet and shower area.

A six-bedroom house less than a mile from the studio flat is currently being advertised at 2,300 a week, or 9,967 pcm.