Hong Kong gives 45 Wang Fuk Court holdouts final call on buyout scheme

Hong Kong authorities are making a final push to persuade 45 holdout homeowners at fire-ravaged Wang Fuk Court to join a government buyout scheme before Monday afternoon’s deadline.

As of noon on Sunday, 1,939 of the estate’s 1,984 flat owners – or 97.7 per cent – had submitted acceptance letters, while 77.7 per cent had signed formal sale and purchase agreements, according to the government.

This leaves about 45 homeowners, or 2.3 per cent, who have yet to accept the government’s buy-back offer ahead of the August 31 deadline. The latest figure represents an increase of 25 completed acceptance forms compared with Friday’s official update.

Under the acquisition scheme, the government will buy flats at HK$8,000 (US$1,020) or HK$10,500 per square foot, depending on whether the land premium has been paid. After selling their homes and receiving compensation, flat owners can either buy a property on the open market or join a special sales programme to acquire a new subsidised flat.

Some homeowners who refused to sell told the South China Morning Post that the offer could not compensate for the loss of their properties and communal bonds. Others who lived in the less damaged Wang Kin House had said they wanted to wait for a structural inspection report to see if repairs were possible.

A spokesman for the Housing Bureau on Sunday urged the owners who are refusing to sell “not to miss the last opportunity” and to return the signed “Letter of Acceptance” to confirm their intention by 5pm on Monday.