Nearly 8% of Owners in Hong Kong Fire-Hit Estate Remain Unpersuaded to Accept Buy-Back Offer as Deadline Approaches

Nearly 8% of homeowners at the fire-damaged Wang Fuk Court in Hong Kong have not yet accepted the government’s buy-back proposal, with the submission deadline approaching at month’s end.

Chief Executive John Lee Ka-chiu reported that 91.9% of residents had submitted acceptance letters, while 65.7% had finalized sale agreements with authorities during a recent town hall meeting.

Lee emphasized that the transfer of ownership for affected properties was advancing in an organized and controlled fashion.

A devastating fire in November destroyed seven of the eight blocks at the estate, resulting in 168 fatalities and displacement of approximately 5,000 residents.

Homeowners retain until August 31 to submit acceptance letters. Post-sale, they may purchase properties on the open market or participate in a subsidized special sales program, using cash or engaging in flat-for-flat exchanges.

Residents who confirmed their intent to sell by June 30 secure priority access to the special sales program.

Lee noted prior to this statement that 90.8% of owners had already accepted the offer, indicating roughly an additional 1% had approved ownership transfer within the two weeks prior.

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