Travel influencer Fly For Miles completes $136.8 mn transaction of luxury North Point unit

A millennial travel influencer, under the name Fly For Miles, completed a 270-day transaction period for a luxury unit of Victoria Harbour II in North Point in July.

The travel influencer, Regis Cheung Lim-on, purchased the unit for HK$136.8 million last October, and obtained a mortgage from Bank of China (Hong Kong) (2388) at an interest rate of 3.25 percent. 

It was reported that Cheung maximized his loan under the current low interest rate. 

Based on a maximum 70 percent mortgage and a 30-year repayment period, his loan amount would reach HK$95.76 million, indicating an initial payment of HK$41.04 million.

At current interest rates, the total interest payment would be HK$54.27 million, with monthly payments reaching HK$0.41 million.

Cheung revealed that the unit is currently under renovation, and expects to move in about a year. 

Cheung purchased a unit on the second-highest floor, which spans 2,118 square feet, including a 430-sq-ft terrace and two parking spaces, for HK$64,589 per sq ft. 

He is not moved by recent price increases in the residence, as he bought the unit entirely for his own use.

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