{"id":193645,"date":"2022-02-22T16:33:41","date_gmt":"2022-02-22T21:33:41","guid":{"rendered":"https:\/\/interiordesign.net\/?post_type=id_research&p=193645"},"modified":"2022-11-07T13:57:11","modified_gmt":"2022-11-07T18:57:11","slug":"thinklab-explains-why-the-luxury-residential-sector-is-due-to-slow-down","status":"publish","type":"id_research","link":"https:\/\/interiordesign.net\/research\/thinklab-explains-why-the-luxury-residential-sector-is-due-to-slow-down\/","title":{"rendered":"ThinkLab Explains Why the Luxury Residential Sector is Due to Slow-Down"},"content":{"rendered":"\n
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\"Bates<\/figure>\n\n\n\n
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February 22, 2022<\/p>\n\n\n

Words: <\/span>Amanda Schneider\u00a0<\/a><\/p>\n<\/div>\n\n\n\n

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ThinkLab Explains Why the Luxury Residential Sector is Due to Slow-Down<\/h1>\n\n\n\n

The real-estate market is, by all accounts, still booming. And the Interior Design<\/em> Rising Giants are bullish on residential, projecting 45% growth for 2022. But in contrast, the 100 Giants\u2014despite experiencing a solid 9% category uptick in 2020 (amidst a 6% overall decline)\u2014saw the luxury residential sector shrink 43% last year. And they expect 2022 to be just as dire in terms of category growth, predicting a shocking -37% change for 2019 through 2022. <\/p>\n\n\n\n

What accounts for this discrepancy between the two groups of Giants firms? Primarily it\u2019s a matter of focus. The Rising studios have always skewed more residential, whereas the 100 are now re-directing their energy back into commercial verticals as those markets recover. <\/p>\n\n\n\n

\u201cWith all the procurement challenges,\u2009it\u2019s harder than ever to be a designer now\u201d – Traci Zeller, Traci Zeller Interiors<\/h3>\n\n\n\n

But ThinkLab data suggests we should all expect a resi slowdown, with single-family and improvements dipping the most. Clients and designers alike are unwilling to overpay for rising labor and material costs or to fight through the supply-chain issues severely compromising project delivery\u2014meaning jobs are being put on hold to ride out the storm.<\/p>\n<\/div>\n<\/div>\n\n\n\n