Fantasia’s August sales up 119pc as Chinese cities ease curbs

PUBLISHED : Thursday, 04 September, 2014, 12:53pm
UPDATED : Thursday, 04 September, 2014, 2:12pm

Fantasia Holdings said it pulled in 1.04 billion yuan (HK$1.31 billion) in property sales last month, up 119 per cent from July as more Chinese cities have relaxed restrictions on home purchases since May.

In a filing with the Hong Kong stock exchange on Thursday, it said the average selling price was 6,854 yuan per square metre, about 8 per cent higher than the 6,335 yuan achieved in July.

Last month, Fantasia sold 152,170 sq metres of property, compared with 74,981 sq metres in July. For the first eight months, the company said it had generated 3.31 billion yuan from the sale of 509,803 sq metres of property at an average price of 6,510 yuan per square metre.

Shares of Fantasia rose 1.06 per cent to 95 HK cents at noon on Thursday.