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Hugely subjective and you're right on cultural differences coming into play, as well as access to/existence of common areas. Are bathrooms communal? Are patios/balconies/outdoor spaces? Are there areas to congregate/socialize/eat nearby? This affects how much internal space is needed.
It becomes more of an urban planning, zoning, and building code exercise than one to be solved by developers, who will try to maximize revenue on any given plot when given the chance. The problem for developers (and accessible housing) is margin: unless gov heavily subsidizes low end residential, they will prefer to build more lucrative luxury apartments.
For contentedness, area per occupant would be the best bet. I'd expect an attempt to target median family sizes and working from there. Global household average is around 3.5 people.
Somewhere in the 20-55 square meter range per occupant is likely the sweet spot, depending on the above factors. You can get away with less space with more amenities nearby.
Mexico has "mini-casas" of ~325 square feet to provide housing for their working poor which residents had challenges with. Paris and Hong Kong have tiny apartments around 10 square meters, where residents spend a significant amount of time outside the home. But these were developer limitations, mostly, to cram as many units into a footprint as possible - not taking occupant satisfaction into account...