Why some Wang Fuk Court owners have refused buy-back deal even as deadline nears

As the deadline approaches for homeowners to accept the Hong Kong government’s deal to buy back their flats at fire-ravaged Wang Fuk Court, some who refuse to sell have said the offer cannot make up for the loss of their property and communal bonds.With the clock ticking to the August 31 cut-off date, the South China Morning Post spoke to six residents determined not to sell their homes at the devastated Tai Po estate, even though experts see the government’s offer as generous and compulsory acquisition would result in a lower price.They are among the 3.5 per cent of homeowners – about 70 people – who have not accepted the offer, under which the government will buy flats at HK$8,000 (US$1,020) or HK$10,500 per square foot, depending on whether the land premium has been paid.