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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.

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The most popular investment instruments for Russian citizens are savings accounts in banks, foreign

currency, real estate, life insurance and cryptocurrencies.

The real disposable income of Russians in the third quarter fell by almost 5% after a record drop of

8.4% in the second, Rosstat reported.

In September 2020, the monthly increase in consumer prices (as estimated seasonally adjusted) decreased to 0.25% compared to 0.38% in August, according to the next release of the information and analytical commentary “Dynamics of consumer prices”.

Consumer demand in the first seven months of 2020 in Russia decreased due to the coronavirus pandemic by an average of 6.7% relative to the result of January-July 2019.
Net capital outflow in January-August 2020 increased 1.7 times compared to the data for the same period last year – from $20 billion to $34.8 billion.
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