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Pan-home domestic market will recover in May of this year
In the past year, industry experts predicted that the "pan-family homework" trend would face a long-term downturn, potentially lasting up to 18 months. This period proved to be one of the most challenging for the pan-home sector. However, as we approach May 2013, signs are emerging that the domestic market for flooring and related products may finally be on the road to recovery. Many indicators suggest that this forecast is not just speculation—it’s backed by real data and market trends. In the following sections, we will explore various factors that support the idea that the pan-home market could see a significant rebound in May 2013.
One clear sign of recovery is the rebound in the second-hand housing market. According to research from the Central Plains Group, in October 2012, major cities such as Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, and Chengdu saw their second-hand home price indices rise for the seventh consecutive month. The cumulative increase since March ranged between 3.5% and 12.0%. While the property market has faced regulatory challenges, many regions are now showing signs of improvement. For instance, in Shenzhen, the average price of second-hand homes increased by 19%, with monthly transaction volumes rising steadily from April to September. In September alone, over 8,500 transactions were recorded, marking a yearly high.
Similarly, Beijing's second-hand housing market experienced two major peaks in 2012—first in June and July, and again in November, with the latter seeing a surge in activity. This trend isn’t limited to Beijing; cities like Shanghai, Nanjing, and Shenyang have also seen a resurgence after a brief slowdown in October. As of November 27, the number of signed contracts in Beijing exceeded those of 2011, signaling a strong recovery.
Another key driver of growth is the acceleration of urbanization. Deputy Prime Minister Li Keqiang highlighted that urbanization represents one of China’s greatest development potentials. As rural areas undergo transformation, more people are moving into urban centers, creating demand for new housing and infrastructure. This process not only boosts construction but also increases the need for interior and home-related products.
Moreover, the renovation market is also gaining momentum. With more homeowners looking to improve their living spaces, the second-hand housing renovation sector is becoming a strategic focus. Industry insiders note that around 60% of overseas renovation projects come from second-hand properties, and in Beijing, this figure has reached nearly 40%. As people update their homes due to changing tastes or aging interiors, the demand for home improvements continues to grow.
With these positive signals, it seems that the pan-home market is on the verge of a broader recovery. The combination of a revitalized real estate sector, ongoing urbanization efforts, and a growing renovation market all point toward a promising future for the industry. As we move into May 2013, the outlook appears increasingly optimistic.