What social factors have increased the demand for smaller properties and flats?

The demand for smaller properties and flats has been significantly influenced by social factors such as fewer children per family and rising divorce rates. As family sizes decrease, there is less need for larger homes, leading more individuals and smaller families to seek out compact living spaces that better suit their needs.

Additionally, rising divorce rates have resulted in more single-person households, which drives the demand for smaller living arrangements. Individuals who are starting anew or living independently often look for properties that are easier to maintain and are more affordable, further contributing to the trend towards smaller properties and flats.

In urban areas, the combination of limited space and higher property prices also plays a role, with many individuals prioritizing location and convenience over the size of their living space. Thus, the shift in family dynamics and societal trends towards smaller household sizes directly correlates with an increased preference for smaller properties in the housing market.