Under the optimised arrangements, the owners get the HK$300,000 grant in four half-yearly instalments between December 22, 2025, and December 21, 2027, to help them with their long-term home arrangements with greater flexibility.
That is regardless of whether owners choose to receive cash only; participate in the special sales exercise for purchasing new subsidised sale flats after receiving the payment; or acquire a new subsidised sale flat under the “flat-for-flat” arrangement, even if a suitable flat could not be selected in the event under the exercise.
The payments will also be forthcoming to flat owners who have not signed letters of acceptance under a government buyout plan.
The new arrangement overrides the condition set by the government in announcing the long-term housing arrangement in February, under which those flat owners who just sell their titles and receive the acquisition payment, and choose not to participate in the special sales exercise, would see rental grants provided only up to the date when the sale proceeds are credited to their accounts.
“For those who choose to participate in the special sales exercise (including those who opt for the cash acquisition and those who choose the ‘flat-for-flat’ arrangement), if the occupation date of their chosen unit is after December 21, 2027, the support fund will continue to provide rental grants to owners who have yet to move into their new units,” the government said in a statement.
Speaking in an interview with RTHK, Cheuk said the enhanced arrangement was made after authorities received reports that some owners who opted out of the special sales exercise were facing significant difficulties, as they were unable to immediately access property-buyout funds.
Some flats, he added, involve rental contracts and therefore face more complexities when accessing the special sales scheme or require more time to find alternative residences.
“After much consideration, we decided to handle it on the principle that compassion should be prioritised in optimising the rental subsidy arrangement,” Cheuk said.
“So from now on, regardless of whether the property owners in Wang Fuk Court participated in the special sales exercise or are selecting a new subsidised sale flat under the ‘flat-for-flat’ arrangement, we’ll all issue a rental subsidy amounting to HK$300,000.”
Asked if the enhanced arrangement might involve “overlapping” financial assistance to those property owners, Cheuk stressed that the move would not amount to a “double subsidy”.
He also noted that the support fund for Wang Fuk Court should be able to cover the extended rental grant, adding that the authorities have so far paid out two instalments, amounting to HK$300 million.
