Forecasts for early 2024 point to a continued rise in bathroom renovation costs across Russia, with expected increases around a quarter compared with the previous year. This outlook was shared with socialbites.ca by the VitrA company’s press service, underscoring a stubborn price momentum in the home improvement market.
In 2023, the average spend on renovating a bathroom in a Russian apartment climbed by over 25% year on year, reaching about 101 thousand rubles. Several forces drove this uptick: fluctuating exchange rates, higher prices for imported materials such as varnishes, paints, and floor coverings, and regional price differences. In major cities like Moscow and St. Petersburg, the 2023 figures were roughly 12% above those in many regional centers. As the window into 2024 opens, experts expect this price trajectory to persist, with vendors and homeowners alike bracing for more cost pressure in the first months of the year.
The VitrA team noted that despite rising costs, demand for bathroom renovation products expanded by about 50% during 2023. The organization attributed part of this surge to a broader shift in the business landscape since 2020, where a growing share of companies adopted remote or hybrid work setups. This change allowed more time for people to plan and execute home improvement projects, fueling an uptick in purchases of plumbing fixtures, furniture, and related components.
Looking ahead to 2024, the company forecasts that interest in interior upgrades will remain robust. To sustain momentum, it will be important for suppliers of plumbing fixtures and associated products to maintain availability and pricing discipline, particularly as colder seasons encourage people to invest more in home spaces. The trend suggests that households will continue to allocate resources toward renovations as part of daily life and comfort during extended periods spent indoors.
Earlier reports from socialbites.ca indicated that prices for European and Chinese plumbing items in Russia could rise by 10–15% by February 2024. The anticipated increases were expected to occur only after existing material stocks purchased at the previous rate were exhausted. Industry observers, including Igor Georgi, president of the Association of Plumbing Manufacturers and Suppliers, noted that imported EU-made plumbing products make up a modest share of the Russian market, yet their price movements have a meaningful impact on overall renovation costs.
At the same time, concerns about inflation expectations among Russian consumers have been voiced by representatives at the Central Bank, highlighting the broader macroeconomic backdrop to these sector-specific shifts. The overall picture remains one of rising costs for materials and labor combined with resilient demand for home improvement projects as households adapt to evolving work-life patterns and a renewed emphasis on domestic living spaces. As prices evolve, builders, retailers, and homeowners will likely adjust procurement strategies, seeking value while pursuing steady upgrades to bathrooms and related interiors. [sources: VitrA press service; socialbites.ca; Association of Plumbing Manufacturers and Suppliers; Central Bank communications]