The government admits it is significantly behind in addressing the growing demand for housing in urban areas and urgently needs to catch up to fulfill the high demand for home ownership.
In the 2024-2025 National Budget, $13.5 million of the $32.3 million is allocated for the formalization of informal settlements.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, announced that to increase the supply of affordable housing units, the government has called for tenders from the private sector to develop and build 3,000 housing units across five Housing Authority sites. These sites are located in Nepani, Raiwaqa, Davuilevu, Wainibuku, and Tavakubu.
Professor Prasad noted that this initiative will also support ongoing projects in Sakoca, Tavela, Field Four, Tore, and the commencement of work in Valewaquyaya in Ba and Vunika in Labasa.
“To continue with the first home buyers grants, a budget of $5.5 million is provided.”
“A total of $7.9 million is allocated for capital grants, which will support the development of the Veikoba bridge to aid Housing Authority’s residential lot development in Valelevu, subsidize the Public Rental Board, expand the Koroipita model town development, and provide a grant to Habitat for Humanity,” he stated.