A leading real estate company that has been operating for two decades, says despite the various tumultuous events the country has been through, residential and commercial property prices have remained stable.
Jokhan Realtors Director Reginald Jokhan says this indicates that investor confidence remains high.
“Property prices haven’t come down that much. I mean, I know of certain properties that are sitting there, the owners are not desperate to sell, but at the same time, there are certain areas where the price has come down but not a huge impact so property prices in Fiji are very similar to what they were before the pandemic started.”
Jokhan adds the real estate market dipped during the complete closure of businesses. However, some companies have been able to seal substantial deals.
His business made sales worth more than $10 million in the last three months.
“Roughly from around April to July itself around the Ba area, there were about three million sales, Lautoka around $4.85million, Naitasiri around $370,000, Nasinu was $1.4 million, Nausori $607,000, Serua, Namosi, Pacific Harbour about $2.1 million, Suva alone around $9.5 million.”
With international borders opening, real estate companies hope to attract more overseas investors.