Hong Kong government offers to buy ownership of apartments from fire victims
Hong Kong –
– Hong Kong authorities unveiled a resettlement plan for thousands of displaced people on Saturday. The deadliest fire in decades last November: proposal to buy back home ownership rights from fire victims.
After about three months, a massive fire at Wang Phuc Court, spread across seven apartment buildings, has left former residents living in uncertainty about when they will find a place they can call home again.
Many of them are adjusting to new life in their temporary homes spread across different districts, with the government offering rental subsidies to help homeowners pay for short-term accommodation.
Homeowners of the seven buildings can sell their ownership rights in cash or buy an apartment under a specified government policy to secure housing of their choice, officials said at a press conference on Saturday. Residents who prefer not to deal with large amounts of cash can directly exchange apartments under the policy.
The government estimates that buying back the rights of about 1,700 units will cost about 6.8 billion Hong Kong dollars ($870 million), of which about 4 billion Hong Kong dollars ($512 million) will be from public funds and the rest will be covered by a relief fund. The amount of public money involved may ultimately be reduced by taking into account insurance compensation.
Michael Wong, the city’s deputy financial secretary, said the administration intended to demolish the seven buildings and would not redevelop residential homes at the fire site. Instead, it could be converted into parks or community facilities.
Wong said there is no reasonable or cost-effective way to repair damaged buildings, and if the government does not intervene, homeowners will find it difficult to find buyers in the market.
“In other words, the money they have invested in these units over the years may go to waste,” he said.
The government aims to contact homeowners in March and hopes to disburse payments to owners in the third quarter of this year, he said, while those who opted for the apartment exchange programme can start choosing new homes in September.
The proposals came after surveying affected residents about their preferences. Wong said 74% of respondents were willing to consider selling their ownership rights to the government. He said about 9% of those who responded to the survey said they would only accept redevelopment at the fire site, which the government expects to take about a decade.
The fire on November 26, 2025, killed 168 people and shattered a close-knit community in the suburban district of Tai Po. authority Blamed substandard scaffolding netting and foam board Used in a maintenance project to keep a fire from spreading rapidly. Although some arrests were made, an independent committee is still investigating the cause.
