A survey conducted by SberStrakhovanie and the Repair service within SberServices, with review by socialbites.ca, found that about one third of Russian households were able to complete apartment repairs within a month. The data show a range of timelines: a small portion, 22 percent, spent one to two weeks on work, while 17 percent required six months. Shorter time frames appeared for 12 percent of respondents who finished in a few days, and 11 percent who needed more than a year. A minority, 8 percent, were still in the process of repairs and could not yet estimate completion dates.
The survey also highlights how households funded these repairs. A large share, 73 percent, reported saving money specifically for the project. In addition, 16 percent borrowed funds and 11 percent drew from friends or relatives. Within those who saved, 31 percent managed to set aside up to 50 thousand rubles, 27 percent accumulated between 51 and 100 thousand rubles, 19 percent gathered 101 to 300 thousand rubles, 10 percent saved from 501 thousand to 1 million rubles, and 9 percent from 301 to 500 thousand rubles. Only 4 percent were able to allocate more than 1 million rubles for apartment repairs.
According to statistics from SberStrakhovanie, the majority of residential incidents in the first half of 2023 occurred in bays, with a significant share of incidents linked to changes in communications during repairs. Other common insured events included emergencies, natural disasters, and fires. These findings underscore the types of risk that homeowners face when undertaking renovation work, as well as the financial preparation that households employ to address those risks.
In the broader context, Russia has recently introduced a new mortgage loan type, marking a shift in how households approach financing major home improvements and renovations. This development indicates a growing focus on accessible credit options to support upgrading living spaces, alongside established savings strategies and borrowing practices described above. The observed patterns reflect how households balance timelines, costs, and risk when pursuing apartment renovations.
Overall, the data illustrate a diverse spectrum of experiences in completing repairs, with a strong emphasis on pre-planning and financial readiness. The combination of saving, selective borrowing, and the use of new financing instruments contributes to a pragmatic approach to home improvement across different income groups and regions.
Note: The information presented is based on the cited survey results and official statistics related to household repairs and insured events. For further context, researchers and readers may refer to public summaries from the contributing organizations attributed in the study.