Fijians investing in high-end properties
November 22, 2019 4:45 pm
The Real Estate Agents Licensing Board Chair Dr Abdul Hassan
Fijians are now investing in high-end properties as the demand for luxury housing has increased over the years.
Properties advertised show rents have skyrocketed due to demand for high-end residences.
The Real Estate Agents Licensing Board Chair Dr Abdul Hassan highlights that under the current law there are no rules in place to control rent or the price of houses on the open market.
“We will work out something in terms of the commission that is being charged by the real estate agents. This also to some extent inflate the prices of properties.”
Local Government and Housing Minister Premila Kumar says consumers in the country have different choices.
“So there is a demand for high-end property and we have seen such properties being available in the market. It is a good sign and people are willing to rent high-end properties.”
Meanwhile, the price of renting houses and apartments continues to increase.