Travel Influencer Fly For Miles Completes HK$136.8 Million Luxury Property Transaction in North Point
Thestandard · 1 SOURCESabout 1 hour ago2 MIN
Summary
Regis Cheung Lim-on, the millennial travel influencer known as Fly For Miles, has finalized the acquisition of a luxury residential unit at Victoria Harbour II in North Point, purchasing the property for HK$136.8 million last October with the 270-day transaction process completing in July. The deal was financed through a mortgage from Bank of China (Hong Kong) (stock code: 2388), with Cheung maximizing his loan under the prevailing low interest rate environment at 3.25 percent. The second-highest floor unit spans 2,118 square feet, including a 430-sq-ft terrace and comes with two parking spaces, translating to approximately HK$64,589 per square foot. Cheung indicated the property is currently under renovation and he anticipates moving in approximately one year from now. Emphasizing his long-term commitment, Cheung stated he purchased the unit entirely for personal use and remains unmoved by recent price fluctuations in the luxury residential market.
Key Points
- The unit at Victoria Harbour II in North Point was purchased for HK$136.8 million, with the transaction completing in July after a 270-day process
- Cheung obtained a 70 percent mortgage loan of HK$95.76 million from Bank of China (Hong Kong) at 3.25 percent interest, requiring an initial down payment of HK$41.04 million
- The 2,118-sq-ft unit includes a 430-sq-ft terrace and two parking spaces, priced at HK$64,589 per square foot
- Monthly mortgage repayments amount to HK$410,000, with total interest payments projected at HK$54.27 million over the 30-year repayment period
- The property is currently under renovation, with Cheung expecting to move in approximately one year; he has stated the purchase was made purely for personal use
Why It Matters
The transaction highlights the growing intersection between social media influence and Hong Kong's luxury property market, with influencers increasingly participating in high-value real estate investments . Given current market dynamics, this deal may serve as a barometer for sentiment among young high-net-worth individuals in Hong Kong's premium residential sector .
The transaction highlights the growing intersection between social media influence and Hong Kong's luxury property market, with influencers increasingly participating in high-value real estate investments . Given current market dynamics, this deal may serve as a barometer for sentiment among young high-net-worth individuals in Hong Kong's premium residential sector .