In case you missed it, the NYTimes had a great story about an apartment in Hong Kong. It is a rather small space t(44 square feet!) that was redesigned (more than once) into 24 rooms all tucked into one. The architect owner, Mr. Chang purchased the home from his parents and continues to work on it, much like one works on a project.
Mr. Chang uses sliding wall units to transform the space into whatever he wants it to be for the moment. The story is here.
Be sure to look at the slide show, I'd love to scarf it, but then stealing other people's photos is not how I roll. :)
Check it out and prepare to be amazed! My favorite is the hammock in the room of yellow sunshine. Which is your favorite? Could you live in a space this small?