CHINESE PAINT MAJORS LOOK TO DOMESTIC CONSUMER SALES AS COMMERCAL REAL ESTATE SLUMPS
October 6th, 2024
China’s paint and coatings companies are struggling to make headway in a tough domestic real estate market, even though medium-term forecasts remain positive. In the first six months of 2024, the value of real estate sales fell by 26.4% year-on-year. The average prices of deals struck dropped 7%, according to the China Real Estate Information Corp which bases its data on the country’s 100 largest real estate developers. Meanwhile, property development investment fell by 10.3% year-on-year (H1 2023 compared to H1 2024) as the country’s home market struggled ...
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