Owners of blocks A to H at Wang Fuk Court who returned signed acceptance letters by August 31 must sign sale agreements for their flats by October 15, Housing Secretary Winnie Ho said. The deadline applies whatever option they chose under the scheme.
Ho said more than 250 owners had selected replacement homes by October 9, with more than 4,000 units still available across ten projects. The choices include urban locations and Tai Po, as well as projects expected to be ready for occupation this year. The Housing Bureau is inviting applicants in batches according to a computer-generated random order; owners attend at the time stated in their letter.
Owners choosing the flat-for-flat option, and those who had signed a letter of intent but had not formally sold their ownership rights, could select and reserve a unit during the selection stage. Those choosing cash acquisition could buy one. Ho said the government would consider individual arrangements where exceptional circumstances prevent an owner signing on time, and would notify the relevant owners before the deadline.
A former Wang Fuk Court resident and his grandmother changed their plans because of family circumstances and chose a Kai Yeung Court flat costing more than HK$4 million. He said he was considering renting in Tai Po during the two-year transition period and would continue to receive a rental allowance while waiting to move in. He was worried about future mortgage costs, estimated stamp duty at HK$100,000 and hoped the government would help.
Another Wang Fuk Court resident said her family of five was staying with relatives. They chose a 490-square-foot Kai Yeung Court flat facing Kowloon City. She said the transport was convenient and hoped her son, who attends kindergarten, might have a better school catchment. She expected to pay more than HK$1 million towards the purchase and put stamp duty at about HK$100,000.
Ho said more than 90% of owners had completed sale agreements. She expected all unit-selection procedures to finish by the end of November.