The President of the Real Estate Agents Association Anand Goundar says greed is the number one factor in the big increases in property prices in Fiji.
While making their submission before the Parliamentary Standing Committee on Economic Affairs on the Fiji Financial Intelligence Unit 2018 Annual Report, Goundar says economists usually say that the market drives the property prices but it is not correct as Fiji has a small economy, and it is usually the Agents who want to make more money.
He adds the vendors who are selling their property will also give an outrageous price giving no chance to an agent or salesperson to say no.
Goundar adds his company is charging three percent commission and he believes this should be regulated.
Goundar says there are some big names in the Real Estate Agents Industry that have got bad names.
