I used to reside in a 73 sqm 3 room HDB and this is "large" when compared to the size of the recent 2 bedder Condominium being released.

The rapidly shrinking apartment is due to the high labor costs, escalating land costs the developer claimed. 

Anyway, I believe a truly functional and efficient apartment is one focuses on versatility. I came across this example at Homedit. This apartment used to be a studio and after the much needed overhaul, it became a one bedder.
Some useful tips which I think compact homeowners can consider.
- Remove all walls and replace them by storage partitions
- Utilize the headboard for storage aside from the typical bed below compartment
- Consider customizing sofas for storage too
- Add slim cabinets below all table tops and dining counter tops

Enjoy the screen stills and the video at the end.