Expression of interest for 103 residential lots in Covata Labasa

Housing Minister Maciu Nalumisa today announced three initiatives by the Housing Authority aimed at making safe and affordable homes a reality for more Fijians.

The first initiative includes a call for expression of interest for 103 residential lots in Covata Labasa which will open up a pathway to homeownership for local residents, fostering community development and regional economic growth.

The prices for these lots will range from $45,000 to $80,000 depending on the lot sizes.

Nalumisa says increasing house and land prices aggravates affordability challenges especially for low income families.

The Minister says they stand committed to supporting those facing challenges in acquiring safe and affordable housing.

“I am proud, indeed proud to announce the call for expression of interest for the 103 residential lots in Covata Labasa offering potential homeowners a valuable investment opportunity in Vanua Levu. We are thrilled to see housing authority designs well develop residential loads accessible to the Fijian people, fulfilling a crucial need to the basic need for also for affordable housing.”

Expression of interest for 103 residential lots in Covata Labasa

Nalumisa also unveiled a groundbreaking first-home loan program with exceptionally low interest rates.

“Further demonstrating its commitment to affordability, housing authority introduces groundbreaking interest rate reduction for Covata residential lots. Those earning below $30,000 will secure a 3.5% fixed interest rate for five years and 6.25% variable after loans. And those earning below $50,000 will secure fixed interest rate of 3.9% for five years and 6.25% thereafter.”

Nalumisa also unveiled the Housing Authority’s online portal and Fijians will be able to make applications for residential lots via the online portal.

Expression of interest for 103 residential lots in Covata Labasa

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