First time property buyers get a boost from Fiji’s F$4.6 billion budget as the Government announced more help for first time buyers and first time builders of property in Fiji in the budget last Thursday (28th June). For those looking to become first time homeowners with a combined income below $50,000 will be eligible to receive a grant of $10,000 if they buy a house or $15,000 if they are looking to build a house.
Government has introduced a subsidy for home loans for those first home buyers with a combined income of less than $40,000 who have financed their home loan through the concessional finance facility under the Reserve Bank of Fiji.
Aiyaz Sayed-Khaiyum says a new Ministry of Housing and Community Development will be set up with an aim to increase the home ownership rate in the country.
