Hong Kong warns homeowners rejecting fire buy-back face major property challenges

Homeowners of the only block undamaged in the deadly Wang Fuk Court inferno who decline the government's buy-back offer will face significant challenges in the management and maintenance of their properties in the long run, Hong Kong authorities have warned. Deputy Financial Secretary Michael Wong Wai-lun said on Wednesday that while the government respected homeowners' decisions, the possibility for authorities to invoke legislation to acquire all property titles in Wang Chi House "absolutely exists". The government said on Tuesday that it might offer to buy back the 248 flats at Wang Chi House originally excluded from a resettlement plan for the other seven fire-ravaged blocks in the estate, if at least three-quarters of homeowners agreed to it. About 77 per cent of them earlier indicated their initial interest in joining the buy-back scheme. Wong on Wednesday said the acquisition proposal would officially be extended to the block if at least 75 per cent of owners signed an official letter of acceptance by June 30. He added that homeowners who chose not to sell their properties to the government could face major difficulties in maintaining or selling the flats in the future. "The land lease and the Deed of Mutual Covenant are very difficult to handle. They need the approval from the owners of all 1,984 flats [of Wang Fuk Court] before they can amend the terms," he noted.