Improved rental grant plan for owners of Wang Fuk Court
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The Support Fund for Wang Fuk Court in Tai Po revealed today (July 17) that, despite which choice under the Government’s long-lasting real estate arrangement prepare the owners of Wang Fuk Court in Tai Po select, a two-year basic rental grant will be paid out to them up until December 21, 2027. This plan will assist them restore their long-lasting homes with higher versatility.
The Government revealed in December 2025 that the Support Fund will offer each flat owner at Wang Fuk Court with a yearly grant of $150,000 from December 22, 2025, to December 21, 2027. The grant will be paid out on a half-yearly basis, each with a payment of $75,000. When revealing the long-lasting real estate arrangement strategy in February this year, the Government chose that if flat owners simply offer their titles and get the acquisition payment, and pick not to take part in the Special Sales Exercise, their rental grants will be supplied approximately the date on which money payments for acquisition are credited to their accounts. This was due to the fact that flat owners might utilize the amount to make their own long-lasting real estate plans.
Under the boosted procedures revealed today, despite whether flat owners select to get money just; take part in the Special Sales Exercise for buying brand-new subsidised sale flats after getting the payment; or get a brand-new subsidised sale flat under the “Flat-for-Flat” plan, they are qualified to get their rental grants up until December 21, 2027, even if an appropriate flat might not be picked in case under the Special Sales Exercise. The pertinent plan is likewise appropriate to flat owners who have actually not signed the “Letter of Acceptance”
For owners who pick to take part in the Special Sales Exercise (consisting of those who select the money acquisition and those who pick the “Flat-for-Flat” plan), if the profession date of their picked system seeks December 21, 2027, the Support Fund will continue to supply rental grants to owners who have actually not yet moved into their brand-new systems. Thinking about that owners usually need about 3 months to remodel their brand-new homes, their eligibility for the rental grant will be preserved for 3 months after the date of the task of the brand-new flat that they have actually bought. After this duration, no more instalments of the rental grant will be made.