According to the China Index Academy's real estate and home furnishing market report for January 2026, the number of new fitted housing projects launched in key monitored cities across China stood at 55, marking a slight decrease of 5.2% compared to the same period last year. The number of fitted housing units reached 26,600, down 7.6% year-on-year.

Second-tier cities accounted for the largest share of fitted housing units at 54.6%. Geographically, launches were concentrated in southern and eastern China, representing 35.6% and 32.3% of the total, respectively.

Chengdu recorded the highest number of fitted housing launches in January at 4,544 units, followed by Guangzhou and Shanghai, each exceeding 3,000 units. The average number of units among the top 10 cities was 2,031.

In terms of price segments, properties priced above 50,000 yuan per square meter had the highest proportion at 32.76%, followed by the 20,000-30,000 yuan and 30,000-40,000 yuan ranges, accounting for 21.55% and 19.4%, respectively. Mid-range fittings were the most common standard, representing 61% of the market.

The average fitted rate for residential projects in 300 monitored cities nationwide was 21.83% in January 2026, an increase of 4.65 percentage points from the previous year. Among city tiers, first-tier cities had an average fitted rate of 75.6%, second-tier cities 30.7%, and third- and fourth-tier cities 5.9%. Southern China recorded the highest regional fitted rate at 43.3%.

Among developers, YUEXIU PROPERTY, China Overseas Land & Investment, and Dahua Group achieved the highest fitted rates for their residential projects, all reaching 100%. Poly Development launched the largest volume of fitted units at 2,544, followed by CHINA JINMAO and C&D Real Estate, each exceeding 2,000 units.

The overall supply of seven major home furnishing categories declined by 14.5% year-on-year in January 2026. Building materials recorded the highest supply volume at 586,000 units, though this represented an 11.3% decrease. In terms of installation rates, building materials led at 99.4%, followed by bathroom fittings at 91.2%. Comfort systems and smart home products had lower installation rates of 27.3% and 29.5%, respectively.

Market sizes for all fitted home product categories declined year-on-year in January 2026. Products such as dishwashers, fresh air systems, air conditioners, and flooring saw minor decreases of less than 10%, while sterilizers, water heaters, entryway systems, video intercoms, smart switches, and shower screens experienced significant drops exceeding 50%.

Installation rates increased slightly for products including latex paint, smart systems, lighting, flooring, and smart door locks. However, rates declined sharply for water heaters, entryway systems, video intercoms, shower screens, and towel racks, with decreases exceeding 20 percentage points.

Among developers, CHINA JINMAO had the highest volume of installed home products in January 2026 at 5,984 units, followed by China Overseas Land & Investment and YUEXIU PROPERTY, each exceeding 5,000 units. The average installation rate among monitored enterprises was 48.7%, with Hangzhou Binjiang Real Estate Group Co.,Ltd. and China Overseas Land & Investment leading at 75%, followed by YUEXIU PROPERTY, Dahua Group, and China Construction Third Engineering Bureau, each at 62.5%.

Market leadership in the seven major product categories remained concentrated among top brands. In kitchen products, Fotile held the top market share at 11%, followed by Siemens and Miele at 7.28% and 6.12%, respectively. For bathroom fittings, Grohe, Kohler, and Hansgrohe were the top three brands, collectively accounting for 24.4% of the market. In comfort systems, Hitachi led with 14.68%, followed by Daikin and BLLC at 13.69% and 6.03%, respectively. Building materials were dominated by Legrand, Schneider, and Simon, together holding 15.57% of the market. Custom brands, Golden Home, and Oppein led the furniture category with shares of 5.27%, 1.97%, and 1.66%, respectively. In smart home products, Huawei, Morgan, and custom brands ranked highest at 10.76%, 3.67%, and 2.59%, respectively. Other home accessories were led by custom brands, Yankon Lighting, and PAK Corporation, collectively accounting for 4.03% of the market.