Last week the Fiji Government announced and interim budget to give relief to its citizens. This stimulus package included the following imitative –
“To offer serious mortgage relief for our homeowners, we’ll also be reducing stamp duty rates for Fiji resident taxpayers for mortgages from 1.7 per cent to zero per cent. Foreign nationals will see their mortgages’ stamp duty reduced from five per cent to zero per cent”
In effect for a non national now purchasing a property for FJ$600,000 that’s a saving of FJ$30,000 on a new mortgage!
Added to this the fact that property prices are already at lower rates than normal then it seems that now is a good time to buy!