$32.3 million allocated to increase affordable housing

To provide affordable housing to thousands of people in Fiji who do not have their own house, a total of $32.3 million has been allocated to the Ministry of Housing in the 2024/2025 National Budget.

While announcing the budget, Deputy Prime Minister and Minister for Finance, Professor Biman Prasad says as a country there is a serious lag in meeting the increased demand for housing in urban areas.

Professor Prasad says there has been progress in additional housing supply for the middle and high income earners and they haven't had any major breakthrough in providing affordable housing to the low income households.

He says this led to the increase in informal settlements across our urban areas.

The Deputy Prime Minister says to increase the supply of affordable housing units, government had called for a tender for the private sector to develop and build around 3,000 housing units in 5 Housing Authority sites, including Nepani, Raiwaqa, Davuilevu, Wainibuku and Tavakubu.

Professor Prasad says this is a public private sector partnership project that has been designed with the support of International Finance Cooperation, the private sector arm of the World Bank.

He says they are currently assessing the tender bids and a final decision will be made soon. He further says $13.5 million is provided for the formalization of informal settlements, this will cater for ongoing projects in Sakoca, Tavela, Field 4, Tore and commencement of work in Valewaquyaya in Ba and Vunika in Labasa.

Professor Prasad adds to continue with the first home buyers grants, a budget of $5.5 million is provided and a total of $7.9 million is provided for capital grants which will cater for development of the Veikoba bridge to support Housing Authority’s residential lot development in Valelevu, subsidy for Public Rental Board, expansion of the Koroipita model town development and grant to Habitat for Humanity.