Wang Fuk Court owners to receive two-year rental grant until end-2027

Eligible owners will receive $150,000 annually in rental support.

The Support Fund for Wang Fuk Court in Tai Po has announced that eligible flat owners will receive a two-year standard rental grant until 21 December 2027, regardless of the long-term housing arrangement they choose.

Owners will remain eligible for the grant whether they choose a cash-only payment, join the Special Sales Exercise to buy a new subsidised sale flat after receiving the payment, or purchase a new subsidised sale flat under the "Flat-for-Flat" arrangement.

Those who do not secure a unit during the Special Sales Exercise will also continue to receive the grant.

The arrangement also covers owners who have not yet signed the Letter of Acceptance.

The rental grant totals $150,000 a year and will be paid in two half-yearly instalments of $75,000.

For owners who buy a flat through the Special Sales Exercise and whose new homes are completed after 21 December 2027, the Support Fund will continue paying the rental grant until completion.

Payments will continue for three months after the assignment date of the new flat to allow for renovations, after which the grant will end.