Hong Kong lifts flat resale curbs for Tai Po fire survivors under buy-back plan
Owners can sell replacement flats any time and get two-year vouchers to buy second-hand subsidised housing
The Hong Kong government will lift resale restrictions on replacement homes for flat owners displaced by the Tai Po fire and provide them with two-year vouchers to purchase second-hand subsidised housing, according to an official buy-back document seen by the South China Morning Post on Tuesday.
The document states that original owners who opt for the special sales scheme will have greater flexibility as they will be allowed to sell their newly built subsidised flats on the secondary market at a freely negotiated price at any time, bypassing standard lock-up periods.
“All Wang Fuk Court owners purchasing brand new first-hand subsidised sale flats from the Housing Authority or the Housing Society through the special sales scheme will have all their resale restrictions related to the lock-up period lifted,” the document said.
The blaze that broke out at Wang Fuk Court on November 26 last year killed 168 people and displaced nearly 5,000 others.
The government has earmarked HK$6.8 billion (US$870 million) to acquire flats at seven of the eight blocks of the estate damaged by the fire. The plan was later extended to the remaining block at an extra cost of HK$1 billion.
Authorities have also set aside 3,900 subsidised flats from the Housing Authority and Housing Society to resettle owners choosing its special sales scheme, who will be assigned priority to choose homes through a computer ballot in September.