It is undeniable that newly built homes are getting smaller due to soaring home prices, therefore bringing down the purchase price and property size together with it.I agree that urban dwellings have limited land size, but one argument that I don't buy is that urbanites, or Gen-Y and beyond, prefers a more minimalist lifestyle (belongings, need for home maintenance) or that they prefer renting.

While the definition of a small space/ home depends on individual subjectivity, my approach is that when the space in a home is insufficient for your lifestyle (where it's family members, belongings, or aesthetics), then it should be coined as small. Yes you may try to use smaller sized furnishings, but it can only be that small before it becomes unusable.

Short of moving to a bigger home, which is always theoretically ideal, here are couple of concepts or ideas that may inspire a new way of living in a smaller space;