Agents see confidence in real estate investment

February 2, 2024 12:24 pm

[File Photo]

The real estate agencies are experiencing robust growth in the investment market, with both locals and foreigners showing eagerness to sink their funds in properties, particularly in the tourism sector.

Bayleys Real Estate Limited, Managing Director Philip Toogood says the market is strong, but he emphasizes the importance of maintaining confidence with existing and potential investors

Toogood highlights some popular places where foreigners are interested in investing.

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“We’ve done a few in the last couple of weeks, and we currently have four very major island properties under contract to offshore buyers. So they’re there. It just takes a little bit more time to sort of bring to fruition, if you like. Denarau Island, very strong, always is, bulletproof. We’ve sold nine properties there in the last few months, spread over residential, commercial, and apartments.”

Apart from these high-level real estate deals, the agencies have also noted an increase in the residential market, attributed to the low lending interest rates offered by financial institutions.