PRB announces rent-to-own scheme amidst housing challenges

April 17, 2024 12:16 pm

Housing Minister Maciu Nalumisa (left)

The rate of people graduating from Public Rental Board flats to owning a home has been really low says Minister for Housing Maciu Nalumisa.

Nalumisa says PRB provides 1673 rental flats throughout 21 estates in the country and of this 257 tenants have been occupying the flats for more than 20 years.

Nalumisa says the Ministry and the PRB are working on a new policy to address this issue and is hopeful that this will finish by the end of this year.

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“Graduation to homeownership will now be complemented with the formulation of a rent-to-own scheme that will transition tenants from renting to owning their homes. This scheme will provide an opportunity for tenants who may not have the financial means to purchase a home outright.”

Nalumisa adds those waiting for PRB flats has increased to 200 from 152 in 2020 indicating the demand for rental flats.

“Hence the need to provide more affordable housing units. To address this issue the Public Rental Board will be completing the Lagilagi low-cost housing project that will produce 36 units. This will be internally funded by the board and have also pursued development sites at Namelimeli in Navua, Matavolivoli in Nadi and in Lautoka which is estimated to provide 157 units.”

Nalumisa says the government also plays a part in supporting the PRB’s endeavours by allocating $1.36 million in grants for rental subsidy.