First home owner's grants to benefit low income earners
June 29, 2018 5:07 am
A new Housing and Community Development Ministry will soon be formed and government has allocated $15m to its first home owner’s grant from the 2018/2019 national budget.
Minister for Economy, Aiyaz Sayed-Khaiyum says this ministry will cater for the housing needs of Fijians and will benefit low income earners
Sayed Khaiyum says a land owner’s grant will also be introduced which will benefit households who earn less than $50,000.
“We are also introducing a new ground madam speaker the first landowners grant to help more Fijian Families purchase or lease land, households who make less than 50,000 dollars will be granted 10,000 dollars towards the purchase or lease of land which eventually can be the site where they construct their new home. Under this scheme, grant payments for the purchase of strata titles developed and approved by institutions like the Housing Authority will be considered at the same rate as the construction of a new home.”
The new ministry’s goal is to increase home ownership rate in the country.
Meanwhile, the government will soon sign an agreement with FNPF that will pave the way for the Fund to develop multi-family housing units in Fiji.