Panasonic Holdings plans an aggressive expansion of its housing business in China, targeting a 280% sales increase by 2025 as the country’s real estate sector undergoes a fundamental transformation.
The Japanese electronics giant is shifting from being just an appliance maker to becoming a comprehensive housing solutions provider in China. Tetsuro Homma, who heads the company’s operations in China and Northeast Asia, sees opportunity in the changing Chinese property market, where buyers now prioritize quality and features over mere availability.
Panasonic’s strategy includes partnerships with local developers, having completed its first joint residential project in Jiangsu province in 2022. The company currently manages 38 residential developments across China, including rental properties and senior housing facilities.
To support its retail presence, Panasonic plans to expand its experiential store network from 19 to 50 locations by fiscal 2025. These showrooms allow customers to interact with the company’s home design solutions and smart living technologies.
The company’s Beijing research facility studies environmental factors affecting living conditions, incorporating findings into residential designs. However, this expansion comes as China’s property sector faces significant challenges, with major developers struggling with debt and falling home prices.
