Tai Po fire owners to receive buy-back offer of up to about HK$10,000 per sq ft

AdvertisementHong Kong’s Tai Po fire tragedyHong KongSocietyTai Po fire owners to receive buy-back offer of up to about HK$10,000 per sq ftGovernment sources say acquisition prices to range from about HK$8,000 to HK$10,000 per sq ft, higher than previously estimatedReading Time:2 minutesWhy you can trust SCMPEdith LinandNatalie WongPublished: 4:55pm, 20 Feb 2026Updated: 5:14pm, 20 Feb 2026The Hong Kong government is set to unveil a resettlement plan for owners who lost their homes in the deadly Wang Fuk Court fire in Tai Po as early as Saturday, offering buy-back options at higher-than-expected prices, the South China Morning Post has learned.Government sources said the acquisition prices for properties without land premiums could be HK$8,000 (US$1,204) per sq ft, while properties with land premiums could exceed HK$10,000 per sq ft.“The government is well aware of the importance of finalising a long-term rehousing plan for the residents as soon as possible.

Deputy Financial Secretary Michael Wong Wai-lun will explain it as early as Saturday,” an insider said.AdvertisementWong chairs a government task force on emergency accommodation arrangements for those affected by the Tai Po blaze.The proposal came three months after the deadly fire killed 168 people at Wang Fuk Court last November. In January, authorities launched a survey to gather the opinions of displaced residents concerning various long-term resettlement options.AdvertisementThe insider said only “a small percentage” of owners opted for redevelopment on the original site, hence the likelihood of the government adopting this option remained low.AdvertisementSelect VoiceSelect Speed0.8x0.9x1.0x1.1x1.2x1.5x1.75x00:0000:001.00x