The Cabinet has approved important changes to the First Home Ownership Initiative Policy, which will introduce a significant 10-year restriction on the resale of properties acquired through the grant, starting on August 1, 2025. This measure aims to prevent beneficiaries from selling their homes within the first decade of ownership, thereby discouraging speculation and ensuring that the assistance is directed towards genuine first-time homebuyers instead of short-term investors.
In addition to this new caveat, the government, in partnership with the Housing Authority, is encouraging first-home buyers with household incomes of $50,000 or less to apply for affordable and sustainable housing options. Those selected will have the opportunity to purchase two-bedroom homes located in designated areas within Nepani, Tacirua, and Davuilevu in the Central Division, along with Tavakubu Phase 2 in the Western Division.
To further support low-income families, the Cabinet has launched the First Home Grant Assistance Category 1 Tier 1 Programme. This initiative aims to provide additional resources to families who have experienced eviction from informal settlements such as Veidogo, Nabua Muslim League, and Kilikali, offering them an opportunity to secure Housing Authority loans. The Ministry of Housing and the Housing Authority will jointly manage the programme, which may be extended to include more eligible settlements in the future.
The introduction of the caveat is part of a broader strategy by the government to strengthen protections surrounding public housing assistance and demonstrates a commitment to promoting long-term home ownership among low-income families in Fiji. This initiative marks a positive step towards empowering first-time buyers while ensuring the sustainability and integrity of the housing market, ultimately fostering a more stable and supportive environment for home ownership in the region.