In recent weeks, the real estate market has been buzzing with positive news. Following the central bank's decision to ease restrictions on first-time homebuyers, the Ministry of Housing, the Ministry of Finance, and the central bank jointly introduced new policies on October 9th. These include mutual recognition of housing provident funds and the removal of loan fees, which are expected to significantly boost buyer support.
With these "bailout" measures in place, the once-stagnant real estate market is showing early signs of recovery. Combined with the traditional "Golden September and Silver October" promotional season, major cities have seen a surge in property transactions, leading to a notable rebound in the market.
As the real estate sector gradually recovers, the home improvement and furniture industries, which are closely tied to property activity, are also beginning to feel the positive impact. Industry experts believe that the full effect of this recovery will become more evident in the fourth quarter.
While the home industry hasn't fully bounced back yet, there are clear signs of improvement. Since September, driven by the "Golden September and Silver October" period and supportive real estate policies, consumer demand has increased, and the furniture sector has experienced some growth. During the National Day holiday, the furniture market saw a peak in activity. Visiting several stores in the city, I noticed a significant rise in foot traffic, and sales staff reported a noticeable increase in actual purchases compared to the same time last year.
According to one salesperson, the number of customers purchasing furniture after completing home renovations has risen, contributing to a rebound in sales from July and August. With the real estate market recovering, the outlook for the home improvement sector remains optimistic. As people buy homes, they often follow up with furniture and renovation projects, which naturally boosts related industries.
Some industry insiders note that while the real estate market rebound can drive furniture sales, there is typically a lag. With relaxed regulations, many properties are expected to be delivered at the end of the year, creating new opportunities for home improvement companies. According to data, it usually takes about six months from house delivery to renovation and furniture purchase, meaning the furniture market may see a stronger rebound in the fourth quarter or next year.
Major shopping malls are also working hard to boost sales through creative marketing strategies and brand enhancement efforts. Manager Huang of a store told the media that although sales this year have dropped compared to last year, the recent real estate recovery has restored confidence in the home improvement market. He emphasized that buying a house often leads to buying furniture, which drives overall sales.
An experienced real estate insider noted that current transaction volumes show signs of warming up, but most sales involve pre-sold properties, which are expected to be delivered next year. If a large number of homes are delivered then, it could lead to a peak in renovation activity, potentially boosting the home improvement market within one to two years of the real estate recovery.
With the "Golden September and Silver October" period now underway, the flooring and home building materials industries are experiencing a gradual upturn. Major malls are also launching large-scale promotions and group-buying events, leading to an improvement in sales compared to previous months. Foot traffic has increased by around 30% compared to the previous quarter.
However, despite these positive developments, challenges remain. In recent years, the economic environment has been relatively weak, affecting many industries, including real estate and home furnishings. While government policies can help stimulate domestic consumption, long-term success depends on internal strengths.
Easing loan conditions is certainly beneficial, but the real estate market is a gradual process, and the effects of new policies may take time to materialize. For home furnishing companies, while promotions and group-buying campaigns attract consumers, the most important factor is brand quality and reputation. Building strong internal capabilities—through product quality, customer experience, and word-of-mouth—is essential for long-term success.
As the market stabilizes, the home improvement sector is becoming more rational. Although property market activity affects related industries like flooring, the furniture and home improvement sectors should not rely too heavily on external factors. The future of the industry depends on its own development and internal strength.
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