The main difference between a studio and an efficiency apartment is the layout of the space. In a studio, you can find an almost full kitchen in the main living space and a bathroom in a separate room.

On the contrary, efficiencies have only a separate area for a bathroom, so there is no separation between the kitchen and living area. Also, the efficiencies have only a kitchenette. Kitchenettes usually come with a smaller fridge, a microwave and sometimes a hot plate instead of a stove. 

The bathroom in efficiency is also much smaller than the one you would find in a studio. All in all, an efficient apartment is more like a hotel room with a kitchen than it is an apartment. You might wonder why someone would choose to live in efficiency over a studio. 

The answer is simple: price. Efficiency apartments are much cheaper to rent than studios, making them an excellent option for people on a budget. Another advantage of efficiencies is that they are often easier to find in popular cities with high rents. So, an efficient apartment may be your best bet if you’re looking for a cheap place to live in a big city.

The technologies opened new opportunities to the real estate market. Airbnb is an example of this. The high value of properties and rent prices had boomed the efficiencies and studios market just for Airbnb.