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China home furnishing market is expected to grow in next 3-5 years in a high speed

2018-03-06 Tag: home furnishing China

In December 2017, the sales area of commercial housing increased by 6.1% over the same period of last year. The increase is higher by 0.8% than that in November (+5.3%). The total sales area of commercial housing increased by 7.7% compared to the year of 2016.

Recently, national and local governments of China have issued a series of policies to encourage the development of full decoration for housing. In May 2017, in the “13th Five-Year”Planning for Development of Construction Industry” issued by the Ministry of Housing and Urban-Rural Development, it is clearly proposed that the area of newly completed housing with full decoration is up to 30% till 2020. And then many provinces and cities also issued corresponding policies of a clear requirement for the proportion of fully decorated housing.


Meanwhile, according to the State Council's suggestions on speeding up the reform of shanty towns, there are still 15 million households in the shanty town reform of the whole country from 2018 to 2020. On December 23, 2017, the national housing and urban-rural development conference pointed out that 5.8 million households in shanty towns will be transformed in 2018, which is higher than estimated 5 million households of the previous three-year plan.


The increase of shanty town reform higher than estimation is expected to support the sales in third or fourth- tier cities in 2018. At the same time, home furnishing demand driven by the second time decoration is expected to achieve an average annual growth of 10.4% during 2017~2022.


The home furnishing plate, as the second echelon driven by real estate, is corresponding to the lagging growth cycle of 5-6 quarters, and the driving market of the home furnishing plate is expected to be released.