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Real Estate market growth remains slow

November 8, 2019 3:22 pm
REALB chair Dr. Abdul Hassan says not many Fijians are investing in real estate.

Rumors of liquidity earlier this year has affected the real estate market.

The Real Estate Agents Licensing Board claims the business has been slow because of this.

REALB chair Dr. Abdul Hassan says not many Fijians are investing in real estate.

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“Generally the thinking of the people is that the Real estate sector is expensive. They also think that buying of properties is expensive so they might have thought not to invest in properties.”

REALB Compliance and Monitoring Officer, Vinal Singh believes there are a lot of factors that are affecting the market.

“Misleading advertisements whereby real estate agents while advertising the property will say it’s a fully furnished property however when people go and have a look it’s not fully furnished.”

REALB is urging all licensed agents to operate transparently in order to help the sector grow.
Meanwhile, in its latest economic review, the Reserve Bank has indicated that there is a general slowdown in domestic economic activity.

It states as at October 30th, liquidity remained sufficient at over 609 million dollars.

 

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