Actually, it is a studio (and a really tiny one, smallest among the rest) that belongs to a female, Gorica, and which is located in Belgrade. I think she found really a great solution for small space design by dividing it into activity zones. Love the way she arranged the frames! I might 'steal' that idea! ;) Also, it is impressive that all the wooden furniture she made herself!
Go, Goca, go!
The rest of the entries are really nice, here are two that caught my attention for the wonderful artwork arrangement. Both happen to be in Denmark.
Will's Family Friendly Small Space