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December 2, 2020

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Firms focus on product strength

By Cherry Cao | 00:00 UTC+8 December 2, 2020 | Print Edition

Real estate companies in China are focusing more on product strength, widely recognized as the primary competitive factor for developers seeking a foothold in an increasingly competitive industry.

Product strength is a wide-ranging concept that covers many factors — from product research and development, project execution and resource integration to housing quality and even word of mouth, according to CRIC, a subsidiary of E-House (China) and a leading real estate data application service provider. CRIC has researched and assessed product strength for three years by tracking major developers and their housing projects around the country.

“China’s real estate industry is shifting from ‘high-speed growth’ to ‘high-quality growth,’ with product quality emerging as the most important symbol of the new era,” said Martin Ding, chief executive officer of E-House (China).

Ever-intensifying competition is one major reason for developers to focus more on their products to stay ahead of competitors in a domestic market where the power now lies with buyers more than sellers.

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