Home ownership concerns
December 2, 2015 5:19 pm
The Government is concerned about where potential new home owners are borrowing money.
Acting Prime Minister Aiyaz Sayed-Khaiyum expressed his concern whilst speaking to Housing Authority staff.
He says that building homes boosts the economy and is one of the reasons why the Government has provided funding to the Matavolvoli Housing in Nadi amongst other projects.
However a major problem occurring daily is that too many people are running to money lenders instead of the banks.
‘I have seen footage of people on pay day round about 3am in the morning if you got an ATM machine you’ll have a couple of cars come up and a couple of people with beanies turn up with this many ATM cards and one book with everybody’s pin number and they’re the money lenders who take people’s money. And one of the fundamental reasons why that happens is because people don’t have the ability to go mainstream banks because they don’t have security, so home ownership is the best way forward in that respect’.
Sayed-Khaiyum says Government will continue to push for better more affordable housing in the country, with the aim to encourage all Fijians to one day own their home.