Authorities in Savusavu are raising alarms about unlicensed individuals masquerading as real estate agents, which is putting property transactions at risk and exploiting unsuspecting buyers. Recent consultations have revealed that locals, including taxi drivers, are engaging in property sales without the necessary credentials, raising significant concerns in the community.
Shivani Dutt, Compliance Officer for the Real Estate Licensing Board (REALB), pointed out that only three licensed agents are legally recognized in Savusavu, despite reports indicating a wide prevalence of illegal activities in the real estate market. Dutt emphasized that individuals who enter into transactions with unlicensed agents may face severe repercussions if these dealings go wrong, as such agents are not registered and are difficult to trace.
Aren Nunnik, a licensed real estate agent, voiced his worries regarding the rise of these fraudulent agents, particularly noting that they often target tourists who may lack knowledge of the local property laws. Nunnik shared incidents where tourists have inadvertently handed over money to scammers, only to find out later that the properties were either not for sale or that they were dealing with non-existent agents.
This situation not only poses significant dangers for potential buyers but also threatens to undermine Fiji’s image as a safe investment and retirement destination. Given that Savusavu is a popular area for foreign buyers, the ongoing issue of unlicensed agents could dissuade future investments, underscoring the pressing need for stricter regulatory enforcement to safeguard both consumers and the integrity of Fiji’s real estate market. By addressing this problem, authorities can help maintain trust in the property sector and reinforce Fiji’s status as a desirable place for investment.