Hong Kong officials have announced a resettlement plan for thousands displaced by the deadliest fire in decades, proposing to buy back homeownership rights from victims. The blaze, which killed 168 people on 26 November 2025, destroyed seven apartment buildings in Wang Fuk Court, Tai Po.
Under the plan, homeowners can sell their ownership rights for cash or exchange them for an apartment under a designated government policy. The government estimates buying back about 1,700 units will cost HK$6.8 billion (£870 million), with HK$4 billion from public funds and the rest from a relief fund.
Deputy Financial Secretary Michael Wong said the government is inclined to dismantle the seven buildings and not redevelop residential homes on the site, which could become a park or community facilities. He noted there is no cost-effective way to repair the damaged buildings, and without intervention, homeowners would struggle to find buyers.
“In other words, the funds they have invested in these units over the years could turn to nothing,” he said. The government aims to contact homeowners in March and hopes to pay them in the third quarter of this year.
The proposals follow a survey of affected residents, with 74% willing to consider selling their ownership rights. Only 9% insisted on redevelopment at the fire site, which would take about a decade. The blaze, caused by substandard scaffold netting and foam boards, remains under investigation by an independent committee.
