The Housing Authority has launched its “lowest-ever interest rate structure” and revived major housing developments in a bid to make homeownership more affordable for Fijians, Minister for Housing Maciu Nalumisa told Parliament this week.
“Over the last two years, the Housing Authority has undergone a significant transformation in its operational performance and service delivery, marked by groundbreaking financial initiatives and a renewed focus on housing supply,” Mr Nalumisa said.
He said households earning below $30,000 annually would receive a fixed 2 per cent interest rate for the first five years, while families earning between $30,000 and $50,000 would qualify for a 3.5 per cent rate.
“These rates transition to manageable variable rates providing a stable and affordable pathway for families to secure their financial future.”
Mr Nalumisa also announced the return of model home construction, describing it as “a strategic move that has not been seen in three decades”.
“This initiative is designed to assist families who face significant hurdles in navigating the complexities of land purchase and self-construction by providing ready-built, accessible housing options.”
Major projects are now underway in Nepani, Davuilevu, Tavakubu and Wainibuku, involving hundreds of lots and model homes.
Mr Nalumisa said the Village Scheme had also been relaunched to extend housing into rural communities while generating secure lease income for mataqali landowners.
