The furniture market picks up in 2013 and is expected to recover

Furniture exports have continued to pick up recently, coupled with the domestic real estate market also showing signs of improvement, the furniture industry boom is expected to continue to rebound this year.

Furniture exports are expected to continue to pick up

China is the world's largest furniture exporting country. Although the European market is still not improving, the demand for emerging markets such as the Middle East and Southeast Asia has increased. Coupled with the gradual recovery of the US real estate market, the furniture export situation has begun to improve. Han Changji, a real estate industry researcher at CIC Consulting, believes that unlike the slowdown in the global real estate market, the US real estate market has begun to enter a recovery phase. With the gradual recovery of the US economy, the recovery of the US real estate market is somewhat sustainable. Data from the National Association of Home Builders also show that in November last year, the real estate market in 125 cities in the United States continued to improve, an increase of 22 from October.

　

China Customs statistics show that the cumulative value of exports of furniture and parts in the first 10 months of last year was US $ 39.381 billion, a year-on-year increase of 31.9%, of which the export value in October was US $ 4.283 billion; the cumulative value of exports of furniture and parts in the first 11 months was 431.60 US $ 100 million, an increase of 27.5% year-on-year, of which the export value in November was US $ 3.781 billion, a decrease from the previous month. Huatai Securities believes that near the end of last year, it is not surprising that the growth rate of furniture exports fell back, but the US housing market transactions continued to improve, and the good trend of furniture export recovery is expected to continue this year.

   

The demand for furniture is well supported

In the context of purchase restrictions on commercial housing, the construction of affordable housing has become an important factor in stimulating furniture consumption in the future. Following the completion of the goal of starting construction of 7 million affordable housing units last year, in 2013 the nationwide urban settlement housing project construction task was to basically complete 4.6 million units and start 6 million new units. Although the number of new constructions seems to have decreased, the actual cumulative value of construction in progress and completion is increasing, and the amount of tasks is still relatively large. According to estimates by the Ministry of Housing and Urban-Rural Development, the actual volume of construction in progress was about 18 million units in 2012, including projects newly started in 2009 to be completed in 2013, and 10 million units newly started in 2011, most of which are still under construction. With the addition of more than 7 million units newly started last year, the number of affordable housing under construction in China has not decreased.

　

In addition to affordable housing, commercial housing sales have recently shown signs of gradual recovery, and are expected to become another factor in stimulating furniture consumption . The national real estate development prosperity index for November last year was 95.71, an increase of 1.15 points from the previous month. In terms of real estate sales, in the first 11 months of 2012, the sales area of ​​commercial housing nationwide was 91.705 million square meters, an increase of 2.4% year-on-year; the sales of commercial housing were 53526 billion yuan, an increase of 9.1%, and the growth rate accelerated, indicating that the sales of commercial housing showed a gradual recovery sign.

　　

The promotion of the furniture trade-in policy is better than expected. For example, the Beijing furniture trade-in pilot project completed sales of 150 million yuan a month, accounting for 26.3% of the total sales of similar furniture. In this regard, Huatai Securities believes that if the furniture trade-in policy is implemented nationwide, furniture companies with prominent brand building and perfect domestic sales channels will benefit from it.

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