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How Russians find emotions in décor?

Despite the stagnation of the Russian economy since 2014, Russians have the desire to have a beautiful and comfortable home. The use of decorators and designers services is due to the growth of the population’s cash income in certain segments of the market; increased demand for housing; expansion of the market of finishing materials and interior items; the increase in demand for the creation of comfortable conditions in homes and offices, and other reasons.

Despite the popularity of some styles in living space decoration, an important role is played by what emotions the person wants to receive from the interior. Usually, for home interior, it is important to create feelings of happiness, comfort, safety, romance, and pride by design. By making some changes to the whole design, layout, colours, and fabrics it’s possible to make a positive difference quickly.

One of the criteria for making decisions about repairs among Russians is the desire to create a new atmosphere by updating living space, the possibility to get new emotions.

According to Nataliya Barysheva, Verveway Partner, while maintaining current economic efforts, the demand for home repair services will only grow at least 5-7% per year. And one of the drivers will be an increase in construction not only in Moscow and St. Petersburg, but also an increase in building residential properties in major cities of Russia. This will be carried out thanks to the renovation program, as well as the state program of building 120 million square meters of residential properties per year.

News
The growth rate of prosperity in Russia over the past two years has exceeded the world average, analysts from the Boston Consulting Group said.
The authorities admitted that they could not keep inflation within 4%. It will be possible to return to this target indicator only in the second half of 2022, according to the analytical commentary of the Central Bank.
The OECD predicts acceleration in the global economy and a slowdown in the domestic Russian economy. The decline in household incomes and the contraction of consumer demand may become an additional brake on the recovery of the Russian economy.
According to Rosstat, the economic downturn in Russia in 2020 amounted to 3.1% – significantly better than expected.
The Deputy Chairman of the Bank of Russia Alexey Zabotkin emphasized that the potential economic growth rates do not depend on monetary policy, they are influenced by demography, labor force, and the efficiency of institutions.
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