Mainland China’s retail and retail property sectors have suffered another blow amid a fresh wave of store closures by foreign and Hong Kong brands, reports the South China Morning Post. High-profile closures include Lane Crawford, Ikea, Triumph, Zara and Zara Home. Multinational furniture retailer Ikea said seven mainland stores would cease operations from February 2. As of December 31, German lingerie maker Triumph Group […]
Category: Property
China’s top-tier cities struggled with a worsening glut of premium office space in 2025, as new supply outpaced demand by more than double, reports Caixin. The oversupply was most severe in the southern tech capital of Shenzhen, where the supply-demand ratio soared to 2.7 to 1—far higher than levels in other major markets. Muted demand has […]
A wave of international retailers have announced major store closures across China, including the likes of Ikea, Zara, Zara Home and Lane Crawford. As many big international brands are moving their China business online, shopping centre vacancies are on the rise, and rent prices are falling. The same is happening with office space across China’s […]
In 2025, China’s new-home sales fell to their lowest level since before 2010, and around 50% below their 2021 peak, reports Caixin. Total sales area for new commercial properties in 2025 was approximately 890 million square meters, a year-on-year drop of about 9%, while sales value fell approximately 13% to RMB 8.4 trillion ($1.2 trillion), said […]
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Furniture falls
Ikea has announced it will close seven of its 41 stores across China as it looks to shift to small-format outlets catering to a more targeted market. The move comes amidst low consumer spending and a weak property market. Ikea as a brand is in many ways symbolic of the aspirations both of China’s middle […]