Property and land prices have declined by up to 20 percent over the past five months. [File Photo]

Property and land prices have declined by up to 20 percent over the past five months.

Bayshore Real Estate Director Arif Khan says this is more prevalent in the West as Nadi is badly affected by the decline in tourism activities.

Khan says there’s also been a decline of 30 percent in rent prices with more vacant properties available in the market now.

“The demand for rental has decreased and the inventory has increased. Consequently, that has led to a decline to anywhere from 20 to 30 percent.”

The latest surveillance by the real estate agent also shows that lesser people are showing interest in investing in properties.