The government has acknowledged a significant shortfall in meeting the rising demand for housing in urban regions, requiring urgent action to satisfy the intensified drive for home ownership.
In the 2024-2025 National Budget, $13.5m from the total $32.3m will be allocated towards formalising information settlements.
To boost the quantity of low-cost housing units, the Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, has announced that the government has put out a tender for the private sector. The intention is to construct 3000 housing units across five sites managed by the Housing Authority in Nepani, Raiwaqa, Davuilevu, Wainibuku and Tavakubu.
Prof. Prasad added that this will support ongoing projects in Sakoca, Tavela, Field Four, Tore, in addition to initiating construction in Valewaquyaya in Ba and Vunika in Labasa.
Another provision of $5.5 million from the budget is allocated for first-home buyer grants. Capital grants are earmarked at $7.9 million to finance key development projects, such as the Veikoba bridge to facilitate Housing Authority’s residential lot development in Valelevu, subsidising the Public Rental Board, expanding the Koroipita model town development, and providing a grant to Habitat for Humanity.