With space at a premium and land prices sky-high, an increasing number of people are embracing the eco tiny or micro house movement and downsizing to the extreme. Take a peek at 26 of the smallest residences worldwide and what they cost.

If you've ever wanted to live like a hobbit, look no further than Green Magic's earth-sheltered micro houses. The eco company manufactures the fibre-reinforced polymer shells, which are delivered ready to install.

Despite its small stature, the main entrance is grand with a distinct Hobbit-like style.

The lounge is simple and compact but easily fits a comfy couch and side table. The round windows continue the Hobbit theme.

An ultra-basic option, Arched Cabin's 12-foot-wide (3.7m) prefab steel home is a suitable size for a studio-type dwelling and the DIY kit shouldn't set you back more than £3,500. Upgrades do, of course, cost extra.

Inside, the open plan space gives the owner the chance to customise it however they wish. The arched roof and high windows give the illusion of more space, which never hurts in a micro home.

This sweet little home in rural Georgia is up for sale via Tiny House Listings and, though it currently lacks plumbing, the 120-square-foot (11.1 m²) pad has enough space for a teeny-weeny kitchen and bathroom.

Given the country's high property prices, it's no wonder the tiny house movement is taking off in Australia. This portable micro home is the smallest Down Under and was built by best friends Rebecca Benson and Reece Brennan.

The ground floor has a bathroom and decent-sized kitchen that is full of smart storage space.

If it feels like there's too many cooks in the kitchen, you can escape upstairs to the comfy loft bedroom.

At just 129 square feet (12 m²), this boxy home by UK firm Ecodom manages to squeeze in all mod cons. It was snapped up by a London-based landlord who aims to market the creation to students.

There's a small but perfectly formed lounge, complete with stylish wood floors. There's even an air conditioning unit to keep you cool on balmy summer nights.

The kitchen might be small but boy does it pack a punch with that colour. The bright cabinets disguise a fridge and extra storage.

Tiny House UK sells DIY kits as well as ready-made tiny houses, ideal if you want to construct one yourself. This adorable cottage for instance measures 13ft x 20ft (4m x 6m).

Inside it really feels like a cozy country cottage, but still manages to squeeze in all the essentials including a lounge area, bijou bathroom and compact kitchen.

In an effort to maximise living space, upstairs there's a mini mezzanine bedroom.

This dinky abode on wheels by Tiny House UK was sold in 2012.

The 13.8-foot x 6.4-foot (4.2m x 1.95m) trailer impresses with dormer windows, a kitchen, en suite bathroom, double bed sleeping area and plasma wall fire.

Nomad's Live micro house packs in all the living essentials one could want. But if you want to take it to the next level buyers can expand their purchase by adding Nomad's Space and Grow extensions.

The smart design uses part of the compact kitchen for the stairwell...

...which leads to the floating, loft-style bedroom. It comes with some handy extra storage and shelving that gives the space a stylish edge.

The craze for tiny houses, or 'kyosho jutaku', is nothing new in space-deprived Japan, and even retailer Muji has started to sell them.

The minimalist Cork Hut, complete with kitchen, bathroom and relaxation area will be available to order next year.

Canadian company Tiny Living Homes is renowned for quality trailers and its Poco Edition doesn't disappoint.

The take-anywhere residence wows with a fully-sized kitchen, a relatively roomy bathroom and a light-filled living and dining area.

Upstairs the loft sleeping area is light and airy and comes with excellent storage.

Tiny Texas Houses builds its stunning creations almost entirely from salvaged materials, so each upcycled structure is completely unique, not to mention eco-friendly. The basic 10-foot x 12-foot (3m x 3.7m) Essay Contest House is priced at just £24,000, while more complex commissions can hit £62,000.

Muji's larger Wooden Hut is nice and bright thanks to the glass panels and features a cast iron stove, along with a tiny kitchen and bathroom with a proper bath.

But before you fall in love with this wooden beauty, if you don't live in Japan, you won't be able to snag one – Muji has no plans to sell the huts outside the country.

The Vista by Escape Traveler measures 25 feet x 8.5 feet (7.6m x 2.6m) and inside it's just as cozy as its exterior suggests.

Inside, the space comprises a living area, compact kitchen and bathroom with a shower, all decorated in pale shades to keep the area light and airy.

At the far end of the cabin is the real jewel in the property's crown, the double bed. Imagine waking up to those incredible panoramic views every morning?

Major US housing materials supplier 84 Lumber has jumped on the bandwagon, recently launching its Tiny Living website. The company offers two micro house models, Roving and Degsy, which start at £34,000 for a fully-outfitted move-in-ready trailer. Budget DIY kits are also available.

While it's narrow, smart colour choices and nifty furniture that can easily be tucked away open up the micro home's space.

Cooks will surely be impressed with this fully stocked kitchen.

Rocking a contemporary vibe, this quirky micro home, on sale via Tiny House Listings, would make for the perfect teenager's escape. It features living space, a decent-sized kitchen and even a proper bathtub.

A pioneer of the tiny house movement, Tumbleweed manufactures some of the most popular scaled-down homes on wheels.

The Elm, which starts at 117 square feet (10.8m²) is Tumbleweed's original RV, and includes sleeping, kitchen and bathroom areas.

If you're into your creature comforts, you'll love Tinywood Homes's Tiny Wooden House.

The deluxe version is fully furnished and features a kitchen, bathroom, living area with log burner and, best of all, a toasty hot tub to relax in.

A change from the usual flat or peaked design, the curvy roofline of this micro home by Canadian firm Structural Spaces was created from the natural bend of a salvaged cedar log. The house has everything you need to live comfortably, including a loft bedroom, bathroom and kitchen.

Tiny Heirloom houses are tailor-made to clients' requirements, so they get exactly what they want, and can be fitted with everything from statement LED lighting and speaker systems to smart automation.

This version is perfect for a small family or entertainer – on a small scale of course – with its fully stocked kitchen, large fridge and washing machine!

This tranquil bedroom allows you to fall asleep under the stars and wake up with the sun.

Tempted to go off-grid? You might want to pre-order one of the first 50 Ecocapsules.

Designed by a Slovakian architect, the 120-square-foot (11.1 m²) pod boasts solar cells, rainwater collection technology and its very own wind turbine.

The sleek and modern interior comes complete with kitchenette, bathroom and fold-away bed.

Feel like you need to escape to serenity of the woods but don't know how? Then you might want to consider The Wedge, an entry-level model from high-end tiny house company Wheelhaus.

The mini 400-square-foot (37m²) log cabin consists of an appliance-packed kitchen, living area, bathroom and bedroom areas, with extras like air con and a wood-burning stove available on request.

The oversized windows make this expertly crafted 392-square-foot (36.4m²) micro home light and airy and its interior, which features a separate living area, kitchen, bathroom and screened porch, is surprisingly spacious.

The luxe 205-square-foot (19m²) transportable Little Box by Bert & May doesn't have a kitchen, so it's more guest space than proper micro house.

But don't let that turn you off, with a space that looks as swish as this, we'd be happy eating out every night.

The wow factor spec includes a 49-inch Sony TV, dreamy mood lighting and Nest smart gadgets.

This charming micro cabin in the woods was built by David Vandervort Architects and features an alcove kitchen, separate bathroom and snug bedroom in the loft area. If you're smitten with this cabin, you can actually obtain the building plans from the architects, at a price of course.

This micro house by Scotland's Wee House Company is a fully functioning one-bedroom home with four separate rooms and an entrance hall for added privacy. The company also manufacturers studios and two-bedroom micro houses.

The interiors have a country cottage feel throughout. The bathroom is generous in size and boasts a large shower.

And the lounge area is surprisingly spacious – check out that big comfy couch!

While it's on the expensive side, this wood-clad shipping container-style micro home by Cocoon 9 measures a generous 480 square feet (44.6m²) and benefits from clever foldaway furniture, appliances and storage units.

Stepping inside you wouldn't even realise you're in a micro home thanks to clever styling and a light colour palette.

Floor to ceiling windows brighten the space and give the illusion of more space – always handy in a compact home.