The Reluctant Sellers of Wang Fuk Court: A Tale of Government Intervention The recent push by Hong Kong authorities to persuade holdout homeowners at Wang Fuk Court to join a government buyout scheme has raised questions about the fine balance between individual property rights and state intervention.
Despite a generous offer, with prices ranging from HK$8,000 to HK$10,500 per square foot, some residents are hesitant to sell their homes.
The number of holdouts is significant – 45 out of 1,984 homeowners have yet to accept the government's offer. While this represents only 2.