Good news for first home buyers as government has boosted home ownership for the Fijian people through assisting individuals seeking to buy or build their first home.
The Reserve Bank of Fiji in conjunction with the Fijian government has granted a total of $60M for affordable housing in the 2017-2018 National Budget.
Minister for Economy Aiyaz Sayed-Khaiyum says this housing assistance fund will be made available to households earning less than $50,000 a year at a 5 percent interest rate.
Sayed-Khaiyum also revealed the partnership government has with FNPF in the construction of a multi-unit housing development in Matavolivoli in Nadi that will offer different price points.
478 affordable housing will also be available by the end of 2018 as $7m has been allocated to subsidise the land development cost of two new subdivisions of the Housing Authority in Nepani and Davuilevu.
Preparations will soon be underway for 300 families in Nabua to be relocated to Waidra, Baulevu and $1.3m has been allocated under the Informal Settlement Relocation Programme to assist with this relocation.
Markets will also be decentralized as $960,000 has been allocated for roadside mini markets in Cuvu, the Old FNPF Building in Lautoka, Tavakubu, Savusavu, Nakasi, Nailaga, and Princes Road and $2.6m has been allocated for the upgrade of the Namaka market.
To continue to encourage physical activity and other civic engagement in Lautoka $1m has been allocated for the construction of an Indoor Sporting Facility, the redevelopment of Govind Park has been allocated $2.6M.
There will also be $1m allocated for the construction a new swimming pool in Narere, Nasinu.
$350,000 has been granted to subsidize municipal councils in the collection of rubbish from informal settlements and in areas within town boundaries.
The total budget of the Ministry of Local Government and Housing in 2017-2108 is $33.9m, comprising $6.6m for operating expenditure, $27.1 for capital expenditure and VAT of 0.2m
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