It looks great but it costs a bit and the whole thing is rather inflexible. When things change, especially when going from living alone to one or more people in the house, things might not fit as well anymore as in that single moment of life.
My idea if I had a tiny apartment is to use well known space savers. Furniture takes up space, so futons are ideal to reduce the space taken up by a bed (even if it’s a wall bed). There might even be some health benefits to it because of having to stand up from the floor each time.
I’m a fan of open storage space (see my post on getting organised) because it’s a bigger incentive to keep things neat and with adjustable shelf heights it’s flexible enough to store different sized stuff without creating unused space. I use the IVAR system from IKEA myself, but any other adjustable shelf space will do, and preferably going up as high as the ceiling.
Alternatively, crates stacked against the wall, just make sure they’re attached to it so they can’t fall down. When using wooden crates it’s easy to screw them together to keep them together, and works even better inside a corner where attaching to the wall might not be necessary anymore.
Having a little simplifying lifestyle helps with needing less stuff and storage space and therefor makes it easier to prevent cluttering up a tiny living space.
To create a little private space, use folding screens.
There are floor pillows, legless chairs and low tables as an alternative to the regular dining table which take up a bit more space.
So, with a little creativity and a willingness to make life simpler, a lot of space can be saved which doesn’t have to cost much.