Mr Naleba said for Public Rental Board tenants, the goal is to graduate into home ownership, which remains a challenge.
The Public Rental Board is looking at introducing the rent to own policy, to help meet the demand for housing. Photo: Laiseana Nasiga
Low-income earners below the $50,000 threshold, are subject to the housing demand challenges that Fiji is currently facing. This is reflected in the priority areas that the Public Rental Board is looking to develop through a new rent to own policy.
General Manager Timoci Naleba said the rent to own policy would target low-income earners.
Mr Naleba said the goal is to provide more two-bedroom houses that people can afford and within the salary bracket.
“When we talk about PRP and housing, we’re talking about affordability,” Mr Naleba said.
“Affordability in terms of rent, and also affordability if you want to go to homeownership.
“The reason why I say that is because PRB looks after a different segment of society altogether, we look after those that are earning below $50,000.
“For any person to be able to rent a house in Suva for example, there is hardly any two-bedroom house that will cost below $400, it will be above.
“So that is the challenge right now to be able to provide more two-bedroom rooms that people can afford and that are in that salary bracket.”
Mr Naleba said for Public Rental Board tenants, the goal is to graduate into home ownership, which remains a challenge.
“For $30,000 collective income earners, when they go to the bank to get a loan, they will need to have security or something that the bank can hold against their loan.
“But those that earn below that, don’t have properties so that is another challenge there.
“Unless Government steps in and provide some kind of security for low-income earners, PRB is coming up with a rent to own policy”
Housing To meet Fiji’s housing demand, required a collective effort is needed.
“Apart from the expertise, we will need funding and the support of all other stakeholders, especially Government, in terms of policy and budgeting, and also from the different private entities that supply us the building materials PRB is working closely with the Ministry of Housing and is expected to roll out the programme by next year.”
Feedback: laiseana.nasiga@fijisun.com.fj
