The Fiji Development Bank is set to resume its housing loan program on a small scale, as announced by the Minister for Finance, Professor Biman Prasad. This initiative aims to assist low- and middle-income families in securing home deposits, paving the way for them to access first home buyer grants.
To support this, the government is providing financial assistance to individuals earning below $50,000, including a grant of $30,000 for first home construction and $15,000 for first home purchases. For those with incomes from $50,000 to $100,000, the grants are set at $20,000 for construction and $5,000 for purchasing, with a total budget of $3.5 million allocated to this initiative.
In addressing the challenge posed by informal settlements, Professor Prasad recognized the link between historical factors and current squatter developments in Fiji. He reinforced the government’s commitment to formalizing these settlements by issuing legitimate lease titles and improving essential services. To this end, the government has earmarked $15 million for formalizing six informal settlements in Tavela, Tore, Field 40, Valequyaya, Sakoca, and Vunika, alongside the planning of four new projects in Lovu Seaside, Nabare, Delaisaweni, and Caubati, which would help legalize around 1,500 housing leases.
Moreover, for residents facing eviction notices in areas such as Nabua Muslim League, Veidogo, and Nadiri, the government plans to allocate $2.2 million for relocation and resettlement funds, aimed at preparing for consultations, land negotiations, and planning secure resettlement options for affected families.
These efforts demonstrate a positive outlook driven by the government’s proactive stance on housing policies, reinforcing hopes for improved living conditions and security for many families across Fiji. With a focus on inclusivity and practical support for first-time homeowners, there is optimism that these initiatives will significantly impact the housing landscape.
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