‘Fresh start’: Hong Kong urged to fast-track buy-back of fire-hit Wang Fuk Court
Institute of Surveyors calls on government to set up statutory body and new law to repurchase flats destroyed in deadly Tai Po blaze
The Hong Kong Institute of Surveyors has urged the government to enact dedicated legislation and establish a statutory body to expedite the buy-back of Wang Fuk Court flats after the deadly fire, to pave the way for rehousing affected residents.
Former president of the institute Chiu Kam-kuen, now chairman of its housing policy panel, estimated that the total cost of repurchasing the flats would range from around HK$5 billion to HK$7 billion (US$642 million to US$899 million), depending on the ratio of subsidised to market homes.
“I believe the simplest and quickest method is for the government to designate a statutory body to repurchase the property rights, allowing owners to use the cash to buy a Home Ownership Scheme flat or for other purposes … this buy-back method is the most straightforward,” he told a radio show on Monday.
The proposal comes amid debate over the future of Wang Fuk Court in Tai Po, where a fire on November 26 spread rapidly through seven of the estate’s eight blocks, destroying them and killing 160 people, including a firefighter. Nearly 5,000 residents were displaced.
While some residents of the unaffected block have expressed a desire to return home, many others remain reluctant to do so after the psychological trauma of the fire.
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Chiu said that the existing acquisition mechanism, based on land resumption ordinances, would be lengthy and complicated by missing owners, inconsistent property statuses – as only some flats had their land premiums paid – and complex insurance claims.