More than 94 percent of homeowners at Wang Fuk Court have accepted the government acquisition offer ahead of the August 31 deadline, Deputy Financial Secretary Michael Wong Wai-lun said, stressing that the scheme will not be extended.
ADVERTISEMENT
SCROLL TO CONTINUE WITH CONTENT
Speaking on a radio program on Sunday, Wong said 1,878 households, or 94.7 percent, have signed and submitted acceptance letters, while 74.1 percent of owners have already signed sale and purchase agreements.
At Wang Chi House, the only block not directly affected by the fire, 91.5 percent of owners have signed acceptance letters and 67.7 percent have signed formal sale contracts.
About 100 households, or 5.3 percent, have yet to accept the buy-back offer. Wong urged the remaining residents to make their decisions promptly, noting that the offer prices are “very reasonable and attractive.”
Wong said the scheme is intended to meet affected residents’ housing needs promptly, and that any further delays would slow overall progress. He also noted that as the acquisition requires Legislative Council funding approval, the government will not raise its offers. He further stated that owners who fail to register by the end of the month will be treated as non-participants to the scheme, and their properties will revert to the normal market mechanism.
+1
Responding to public calls for more transparency, Wong rejected demands to release a list of participating owners, emphasizing that property transactions are strictly private and that publishing names would breach privacy and subject residents to unwanted pressure. He added that transaction records will be available through the Land Registry after transfers are completed, as is standard practice.
Regarding whether the government would consider using legal means to acquire the remaining flats, Wong said it would not be carried out until next year at the earliest. He stressed that compensation under the statutory mechanism would be based on prevailing market value, and the post-disaster value of Wang Fuk Court flats would be far lower than both usual market rates and the government’s current offer.
Meanwhile, Secretary for Housing Winnie Ho Wing-yin said residents participating in the special sales exercise will receive priority numbers in early September, followed by a randomized computer drawing.
Unit selection is expected to begin in late September, with officials handling 50 to 60 transactions daily alongside dedicated outreach support.
Ho said that 330 households have completed property transfer procedures to opt for cash buyouts without purchasing new homes. Others have purchased secondary Home Ownership Scheme (HOS) flats using Green Form status. Currently, nearly 1,300 households are staying in transitional housing or Hong Kong Housing Society units, with around a dozen residing in interim housing.
Ho noted that residents who fail to select a preferred flat can revert to cash buyouts or purchase HOS units via Green Form status within two years.
Regarding post-transfer arrangements, Wong said the government will adopt a compassionate approach, allowing former owners to go back to their units to retrieve personal belongings.
