The average size of new houses in India increased to 1,300 sq ft in 2023 from 1,050 sq ft in 2019, with the National Capital Region (NCR) witnessing a significant rise. In the NCR, the average apartment size increased from 1,375 sq ft in 2022 to 1,890 sq ft in 2023, reflecting a 37% yearly growth. The shift towards larger living spaces is attributed to increased demand due to the Covid-19 pandemic. Over a five-year period, the average size of flats across India jumped by 51% from 1,250 sq ft in 2019. Luxury housing also witnessed growth, constituting about 23% of total new launches in 2023.
UN Labor Agency Warns Pandemic-Driven Jobs Crisis Far From Over
Global unemployment projected to see 205M people in 2022 to far exceed 2019 figure of 187M. The pandemic-driven labor market crisis is not going to end anytime soon, and employment growth will not be enough to cover the losses suffered at least until 2023, according to the latest projections by the International Labor Organization (ILO).
The Geneva-based UN agency warned in its latest flagship report, World Employment and Social Outlook: Trends 2021, that COVID-19 risks leaving a legacy of increased geographical and demographic inequality in the labor market, the spread of poverty, and the decline of decent work.
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