Could these run-down Hong Kong flats be a redeveloper’s dream?

The buildings along Kam Wa Street next to Shau Kei Wan MTR station were built 40 to 50 years ago, mostly without lifts, and now look run-down.

Tenement blocks ranging from eight to 12 storeys, they could be just the type of structures the Urban Renewal Authority is proposing to buy up, refurbish, then rent back to the elderly people living there so they can stay in their old neighbourhoods.

“If by any chance [the Urban Renewal Authority] really manages to do what they plan and put in lifts, I’d consider selling my flat and renting it again from them,” said Chan Sau-yuk, 63, who moved into her eighth-floor flat over 20 years ago in one of the old buildings in Kam Wa Street, lined by a bustling wet market.

The apartments are a good size, she said – hers was around 700 sq ft and in decent condition despite being more than 40 years old. She recently paid HK$130,000 as part of a government project to fit salt water pipes to the building.

However, the buildings have become dirty and unkempt because of an increase in subdivided flats, said Chan. Rats ran up and down the buildings and roam the street at night.

Mr Li, who has rented a flat for a year, agreed. “I’d say half of these flats are subdivided units,” he said.

The result was more strangers going in and out of the building.