Sainimili Magimagi 
[File Photo]
Families earning below $50,000 are set to benefit from a key initiative that the Housing Authority will officially launch following the budget announcement.
Lending rates is expected to decrease in the new financial year.
Minister for Housing Maciu Naulumisa announced that a two percent fixed interest rate for a period of five years will be implemented for those earning below $30,000 annually, followed by a variable rate of four percent per annum thereafter.
He added that for families earning between $30,000 and $50,000, the new interest rates will be 3.5 percent fixed for five years, with a six percent per annum variable rate thereafter.
“This program reflects our coalition government’s deep commitment to making home ownership a reality for more Fijians.”
Housing Authority Board Chair Sereana Qoro stated that this initiative was part of the submission for the 2025-2026 National Budget.
She said the proposed changes will be implemented once the budget allocation is announced.
Qoro reiterated that the aim of the initiative is to provide safe and affordable homes for Fijians.
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