Should you Invest?
Although foreigners cannot enjoy quite the same freedom as in
other countries when it comes to buying property in Fiji, there are
certainly great investment opportunities to profit from whilst the
islands offer undeniably enticing holiday destinations. With
tourism as the main driver of the economy, much of the Fijian
resources, funding and effort will be put into improving the
infrastructure and amenities in order to increase the number of
foreign visitors to the island, and with this level of committed
development and the low prices of Fijian property there is a very
real potential for prices to rocket. As such, relatively fast
returns will be enjoyed. According to David Stanley Redfern Ltd,
investment property in Fiji should grow in value by 15% to 20% with
some prime locations growing up to 30%.
- Economy heavily focussed on tourism creating an ideal market
for the investor.
- Economy set to grow as the number of visitors to the island
increase.
- The level of tourism has been affected in the past by political
instability and there is no guarantee that this won't happen
again.
- Fiji is still classed as an developing country which may put
off the more faint-hearted investor.
Price History
Fiji property is new to the international market so there is
currently little history to go by. Around 9% of land in Fiji is
freehold and available to foreigners to buy. Many plots available
for purchase are situated on plantation locations that have been
divided up into saleable sizes. Smaller plots can be bought from
£16,000 whilst whole islands can cost £500,000 and above. According
to David Stanley Redfern Ltd, - specialists selling property in
Fiji - studio houses are currently available from £25,000. They
expect that prices could easily rise to between £60,000 and £80,000
for the same studios in as little as two years.
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