In recent months, the real estate market has been buzzing with positive developments. Following the central bank's decision to relax mortgage rules for first-time buyers, the Ministry of Housing, the Ministry of Finance, and the central bank jointly introduced new policies on October 9th. These included mutual recognition of housing provident funds and the elimination of loan processing fees, which have significantly boosted buyer support beyond expectations.
With a series of government interventions aimed at revitalizing the sector, the once-stagnant real estate market has started showing early signs of recovery. Combined with the "Golden September and Silver October" promotional season, major cities have experienced a surge in property transactions, leading to a noticeable rebound in the market.
As the real estate sector gradually recovers, the home improvement industry, which is closely tied to housing activity, has also seen some benefits. Industry experts suggest that the impact of the real estate revival on furniture and home decor sales will become more evident in the fourth quarter.
Despite this positive trend, the home industry hasn’t fully bounced back yet. However, since September, the combination of the "Golden September and Silver October" period and new real estate policies has stimulated consumer demand. The furniture sector has shown some improvement, particularly during the National Day holiday, when many consumers took advantage of seasonal promotions.
Visiting several furniture stores recently, it was clear that foot traffic had increased significantly. Sales representatives noted that not only were more people coming in, but actual sales had also risen compared to the same time last year. One salesperson mentioned that many customers were purchasing furniture after finishing their home renovations, indicating a growing interest in home improvements.
Industry insiders believe that while the real estate market’s rebound can boost the furniture industry, there is typically a lag. With relaxed restrictions and an expected increase in property transactions by year-end, home improvement companies are seeing new opportunities. According to data, it usually takes about six months from house delivery to renovation and furniture purchase, so the furniture market is expected to pick up in the fourth quarter or early next year.
While major shopping malls are using creative marketing strategies to drive sales, the long-term success of the home improvement sector depends on internal strength. Companies must focus on product quality, customer experience, and brand reputation to stand out in a competitive market.
Although the current real estate transaction volume shows signs of warming, most properties sold now are pre-sales, meaning they won't be delivered until next year. This could lead to a peak in property deliveries, which would likely drive a surge in home improvement activity within one to two years.
As we enter the "Golden September and Silver October" period, the flooring and home building materials sectors are also experiencing a gradual recovery. With large-scale promotions and group buying events, sales have improved slightly, and foot traffic has increased by around 30% compared to the previous quarter.
However, despite these positive signs, the real estate market is still in a recovery phase, and the full impact on the home improvement industry may take a year to materialize.
While loosened lending policies provide external support, the real estate market remains a slow process, and the true effects of new policies are yet to be seen. For home furnishing companies, while promotions and group purchases attract customers, the foundation of success lies in brand quality, reputation, and customer satisfaction.
As the market stabilizes, the home improvement sector is becoming more rational. Although property market activity influences industries like flooring and furniture, the long-term development of the home industry depends on its own strengths and internal growth. Companies must focus on building a solid brand through product quality, customer experience, and word-of-mouth to succeed in the competitive market.
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