Owners at Wang Chi House, the only block spared in Hong Kong’s fire-ravaged Wang Fuk Court, have until October 15 to finalise the sale of homes under a government buyback scheme – provided more than 75 per cent of them indicate their intention to sell by the end of next month.
However, the tight timeline has sparked widespread frustration among residents, who complain they are being pressured to make a decision without crucial details regarding insurance coverage and future maintenance fees.
Homeowners at Wang Fuk Court in Tai Po have been offered a range of options, including a cash buyout and a “flat-for-flat” exchange for new subsidised homes at 10 designated projects under the Housing Authority or the Housing Society through a special sales exercise.
The inferno last November killed 168 people and displaced nearly 5,000 others.
For Wang Chi House, the only block spared in the fire, the buyback scheme will go ahead only if more than 75 per cent of owners confirm their intention to sell by signing the letter by June 30.
The owners will then need to sign the formal sales agreement by mid-October, according to official documents sent to Wang Chi House residents on Monday.
