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

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.