House prices are inflated, but that is supply and demand – Acting PM

House prices are inflated, but that is supply and demand – Acting PM

By Alipate Narawa
Monday 05/02/2024
Acting Prime Minister and Minister for Trade, Manoa Kamikamica

We can probably argue that the price of homes are inflated but that is supply and demand and it is too late to control it.

Acting Prime Minister and Minister for Trade, Manoa Kamikamica highlighted this, saying at a certain point in Fiji, foreign investors were allowed to invest in homes in urban areas, and this meant that they were willing to pay a lot more.

Kamikamica says all of a sudden property prices within Suva and other towns have started to rise unreasonably and they cannot really control it now but if the previous government had reacted faster, they could have done something about it.

When asked by fijivillage News, Kamikamica says there is nothing they can do now.

The Acting Prime Minister says there are some houses that are priced at $500,000 and you wonder how they can be worth so much when you look at them.

He adds that is the issue that the government is currently facing and the next generation like his daughter, if they are lucky, will be able to afford a house beyond Nausori.

FEATURE NEWS
Police investigate video showing youths allegedly role playing and assaulting a young boy in the bushes, tying him up and burying him
A Police investigation is now underway in relation to a video circulating on social media showing a group of youths allegedly role playing and assault...
3 hours ago
LATEST NEWS
Teen charged with murder over bus stop stabbing
A 16-year-old has been charged with murder after the stabbing two teenagers outside a school in Sydney’s west yesterday afternoon while police ...
3 hours ago

Italian fashion designer Roberto Cavalli has died aged 83
Italian fashion designer Roberto Cavalli, known for his animal prints on leather and textiles, has died aged 83. The fashion house that bears his ...
3 hours ago

Villagers of Vusama and Naveisabasaba bid farewell to water woes with New Water Mains Extension Project
Fetching water from contaminated wells and carting water on bullocks will be a thing of the past for the villagers of Vusama and Naveisabasaba in ...
3 hours ago

40 jobs created as Rups opens another triple story branch in Labasa
40 people now have a job as Rups Investments Limited has opened another triple story branch in Labasa Town. Manager Rajnesh Kumar Deo says a lot ...
5 hours ago

RFMF and Police personnel to assist in security during Solomon Islands election
A team from the Republic of Fiji Military Force and the Fiji Police Force will depart the country to assist in the Solomon Islands general ...
5 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
yb
IN DEPTH
Bainimarama and Qiliho's Acquittal Appeal
Coverage on the appeal filed by Acting Director of Public Prosecutions, John Rabuku against the acquittal of the former Prime Minister Voreqe ...
10 days ago

National Program Manager for Fiji 7s, Gareth Baber appears on fijivillage Straight Talk With Vijay Narayan
Gareth Baber appeared on fijivillage Straight Talk With Vijay Narayan to share his plans heading into the preparations for the upcoming tournaments ...
11 days ago

RFMF Commander Major General Ro Jone Kalouniwai appears on fijivillage Straight Talk
RFMF Commander Major General Ro Jone Kalouniwai sat down for a candid interview with CFL News Director, Vijay Narayan to talk about various issues ...
17 days ago

TOP