Early birds for Wang Fuk Court buy-back get first pick of subsidised houses
Residents who lost their homes in Hong Kong’s deadly Tai Po fire started choosing their replacement flats on Tuesday, with some calling on authorities to introduce stamp duty waivers to help ease their financial burden. After last November’s blaze at Wang Fuk Court, authorities rolled out a HK$7.8 billion (US$994 million) plan to buy back flats at the eight-block subsidised housing estate. Under…
Residents of Hong Kong's destroyed Wang Fuk Court housing estate began selecting their replacement flats on Tuesday, with some advocating for stamp duty waivers to alleviate their financial strain. In the wake of the deadly Tai Po fire that occurred last November, authorities launched a HK$7.8 billion (US$994 million) initiative to repurchase flats in the eight-block subsidized housing development.
Under the plan, participants can utilize the compensation to purchase a private market flat or participate in a special sales exercise to acquire new subsidized housing through the government's 'flat-for-flat' program. Priority selection is granted to the first 35 households that submit their acceptance letters by June 30, allowing them to choose from 4,400 flats across 10 subsidized housing estates located in Kowloon Bay, Kai Tak, Tseung Kwan O, Kwun Tong, and Fanling.
Among these are Sierra Terrace in Fanling and Shing Chi Court in Kowloon Bay, with the remaining developments slated for completion in 2027 and 2028. The first resident to pick a replacement flat, Lee, who resided in Wang Shing House, opted for Kai Yeung Court in Kai Tak, citing improved transportation and amenities. However, he expressed concern about the financial impact, estimating an additional HK$200,000 to cover the price difference.
Lee also requested a stamp duty waiver, which could save him hundreds of thousands of Hong dollars. Another resident, Cheung, selected a larger flat in Hemma Sapphire in Kwun Tong due to its view and size, but expressed dissatisfaction with the offered homes and emphasized the economic burden of the additional costs. Tam, the last resident to choose a flat, was pleased to secure a home in Sierra Terrace, as she and her husband were forced to find an alternative living arrangement due to their landlord's reluctance to rent to elderly tenants.
Housing Secretary Winnie Ho announced that other applicants would be randomly selected for flats over the next two months.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
