The government has admitted that it is struggling to meet the surging demand for housing in urban areas, and needs to take urgent steps to resolve the home ownership crisis.
In the 2024-2025 National Budget, a sum of $13.5 million from the total budget of $32.3 million is being assigned to formalize information settlements.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad announced that to increase the availability of affordable homes, the government has invited private sector enterprises to develop and construct 3000 residential units in five sites managed by the Housing Authority. These sites are located in Nepani, Raiwaqa, Davuilevu, Wainibuku, and Tavakubu.
According to Prof. Prasad, this initiative will support ongoing projects in areas like Sakoca, Tavela, Field Four, Tore, and also kick start efforts in Valewaquyaya in Ba and Vunika in Labasa.
To support first-time home buyers, the government has allocated a budget of $5.5 million. Additionally, $7.9 million has been set aside for capital grants to cater to diverse development projects. These projects include the construction of the Veikoba bridge to support residential lot development in Valelevu, expansion of the Public Rental Board, expansion of the Koroipita model town development, and funding for Habitat for Humanity.