Mystery buyer of Asia’s priciest flats on The Peak in Hong Kong is revealed
Who is Lin Zhongmin, who paid HK$1.16 billion for Asia’s most expensive flats at Mount Nicholson?
The name of the buyer who spent an astonishing HK$1.16 billion on two adjoining flats at No 8 Mount Nicholson on The Peak has finally been revealed, but the mystery over who exactly the person is has only deepened.
The Land Registry on Saturday identified the buyer as Lin Zhongmin, sparking frenzied media speculation about where the person comes from.
The two flats on the 12th floor of the exclusive residential development, with a combined area of 8,821 sq ft, were sold last month.
One flat, measuring 4,242 sq ft, fetched HK$560.2 million, or HK$132,060 per square foot, making it Asia’s most expensive residence by floor area. The adjoining flat, measuring 4,579 sq ft, sold for HK$604.2 million, or HK$132,059 per square foot.
Some local media speculated that Lin is a Hong Kong permanent resident, meaning the buyer would have to pay a basic stamp duty of 4.25 per cent for one flat plus a double stamp duty of 15 per cent on the other. The total would come to about HK$110 million.