Average apartment size increased 10% in 2020
A report by Anarock Property Consultants showed the average apartment size in the top seven cities has risen 10% on a yearly basis, with work-from-home being cited as the primary contributor to the cause.
The average size has risen to 1,150 sq ft in 2020, from 1,050 sq ft in 2019, said the report.
There had been a gradual decrease in the average apartment size on a year-on-year basis since 2016. The maximum decline was witnessed in the year 2017. Average apartment size fell from 1,440 sq ft in 2016 to 1,260 sq ft in 2017—a margin drop of 13%.
Hyderabad still has the largest average apartment size at 1,750 sq ft among the top cities, twice as that of the Mumbai Metropolitan Region (MMR), where the average size is 932 sq ft, the lowest among the big cities.
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In terms of percentage increase, MMR saw a maximum rise of 21%. Apartment size shot up to 932 sq ft in 2020 from an average of 773 sq ft in 2019. Pune came in next with 12% annual increase in average apartment size from 878 sq ft in 2019 to 986 sq ft in 2020, said the report.
Developers swiftly caught up with “size matters” and the second half of 2020 saw average apartment size in the top 7 cities increase by 10%. Pune and MMR, which had the smallest average flat size among all the top cities, witnessed the maximum increase in 2020 over the previous year, 21% and 12% respectively, the report stated.