The Fiji Development Bank (FDB) is taking significant strides to motivate young iTaukei individuals to invest early in property, aiming to foster financial security and create a lasting legacy for future generations. Addressing a critical issue faced by many iTaukei families, FDB Chief Executive Filimone Waqabaca discussed the unfortunate trend of parents passing away without bequeathing property or substantial assets to their children.
Waqabaca emphasizes the importance of early property investment as a means to eliminate inheritance gaps within families and establish a solid foundation for wealth accumulation. He remarked, “If we can buy property now at an early age, after a few years, use that first property as security and generate from there,” underscoring the long-term advantages of homeownership.
The Chief Executive also highlighted the FDB’s favorable loan options, which can extend up to 30 years, making it a viable choice for young buyers concerned about initial investment costs. This initiative is designed to bolster generational wealth and enhance economic conditions for iTaukei communities, promoting a culture of financial responsibility and stability.
By encouraging youth to actively pursue property investments, the FDB aims not only to facilitate personal financial growth but also to positively impact the broader economic landscape of iTaukei communities. With access to the right resources and support, young individuals have the potential to drive transformative change and enrich their family legacies for years to come.