Hong Kong offers to buy apartment ownership rights from Wang Fuk Court fire victims

Hong Kong officials proposed buying back ownership rights for about 1,700 Wang Fuk Court units and said they will contact homeowners in March, with payments expected in the third quarter and apartment exchanges available from September.

Hong Kong officials unveiled resettlement plans for people displaced by a November fire that affected seven apartment buildings in Wang Fuk Court. The blaze on Nov. 26, 2025 was reported to have killed 168 people and left many former residents in temporary housing. The government proposed buying back homeowners' ownership rights or offering an exchange under a designated policy, and it is providing rental grants for short-term accommodation. Officials said they will contact homeowners in March and aim to make payments in the third quarter, with apartment selection under the exchange program beginning in September. Key points: - The government proposes to buy back ownership rights for about 1,700 units and to offer an apartment exchange option. - Estimated cost for the buyback is HK$6.8 billion, with about HK$4 billion from public funds and the remainder from a relief fund; insurance compensation could reduce public costs. - Officials indicated they are inclined to dismantle the seven buildings and not redevelop residential housing on the site; it could be turned into a park or community facilities. - Homeowners were surveyed; about 74% said they would consider selling their ownership rights, while about 9% said they would accept only redevelopment at the site. - Authorities plan to contact homeowners in March, aim to pay owners in the third quarter, and expect apartment allocations under the exchange program to begin in September. - An independent committee is still investigating the fire's cause, and some arrests have been reported. Summary: The proposals aim to resolve housing uncertainty by offering cash buybacks or apartment exchanges to displaced homeowners and to remove the damaged buildings from residential use. Officials plan staged contact and payments starting in March and continuing through the third quarter, with apartment selections available from September. An investigation into the fire remains ongoing.