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Navi Mumbai residential launches witness 5% increase in apartment sizes in H2 2020, report

Navi Mumbai residential launches witness 5% increase in apartment sizes in H2 2020, report
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The city registered residential sales of 2,384 units in the second half of 2020 and new launches at 2,860 units during the period. Home sales in MMR witnessed a rise of 10.39% YoY to 30,041 units in H2 2020 and new launches saw a decline of 25.26% YoY to 26,904 units.
AFP
In the backdrop of rising demand for relatively bigger homes owing to the ongoing pandemic, the apartment size in new launches in Navi Mumbai has seen a rise of 5% to 722 sq ft in the second half of 2020, showed a Knight Frank India report. ....

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Average apartment sizes in top 7 cities grew 10% in 2020, says study

Average apartment sizes in the top 7 cities have risen by 10 per cent on a yearly basis – to 1,150 sq ft in 2020 from 1,050 sq ft in 2019, said a new study.
Trends for the past four years indicate that average apartment sizes were declining y-o-y since 2016. The year 2017 saw the maximum yearly decline of 13 per cent in average apartment sizes in the top 7 cities against the year before – from 1,440 sq ft in 2016 to nearly 1,260 sq ft in 2017, said a report by Anarock Property Consultants.
A fairly sudden change in consumer preferences against the backdrop of Covid-19 exigencies in 2020 first halted, then reversed the ‘honey, I shrunk the flat’ effect, the report said. ....

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