The three aspects of decoration which play important roles while decorating a limited space are comfort, efficiency and ornamentation. If you can work out a combination of these three in your design for the limited space, you have nothing more to worry about. Start thinking innovatively and smartly when you have a limited space available.
Try to bring in furniture which can be used for more than one purpose; saves quality space as well as money. Nowadays it is easy to get furniture items for your space which can be folded when not in use; purchase some of these. Make a proper plan before you purchase the goods. Keep in mind the things you will have to place in the space you have. You can even think of substitutions, if any. Use the height of the space to your advantage and install shelves and other such furniture items on the walls of the room.