Tai Po fire owners to receive buy-back offer of up to about HK$10,000 per sq ft
South China Morning Post
by Edith Lin,Natalie WongFebruary 20, 2026
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Hong Kong authorities have announced a resettlement plan offering buy-back prices ranging from HK$8,000 to over HK$10,000 per square foot for residents affected by the tragic Wang Fuk Court fire in Tai Po, which claimed 168 lives. This revised offer reflects a higher compensation package than previously anticipated, aimed at addressing the urgent need for long-term housing solutions. The proposal was spearheaded by a government task force led by Deputy Financial Secretary Michael Wong Wai-lun, who is scheduled to provide further details as early as Saturday.
The initiative comes three months after the November 2022 fire and follows a January survey assessing displaced residents' preferences for various resettlement options. While only a small percentage of owners opted for redevelopment on the original site, indicating that this option remains unlikely. The government's focus is now on finalizing a sustainable rehousing plan to ensure affected families can rebuild their lives.
This development holds significant implications globally, as it sets a precedent for compensating victims of disasters with high buy-back prices, influencing real estate and disaster recovery policies. It also highlights the challenges in balancing developer interests with public safety post-disaster. For those impacted by the fire, this plan offers hope for stability and underscores the importance of prioritizing resident well
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Originally published on South China Morning Post on 2/20/2026