There are no age restrictions for Fijians interested in applying for the First Home Ownership Initiative, as confirmed by Housing Minister Maciu Nalumisa in a recent Parliament session. The eligibility criteria focus on the applicant’s ability to present a proof of a registered title or a building with a registered title, ensuring that the initiative serves its intended purpose.
Minister Nalumisa stated that applicants can combine their savings from the Fiji National Provident Fund or banks to effectively utilize the grant for property or land acquisition. However, he clarified that residents of formalized or incorporated settlements, like those in the Kalabu area, cannot access the First Home Ownership grant unless they hold a registered title. Instead, these communities are encouraged to seek assistance through the Rural Housing Assistance Grant.
This initiative, launched in 2014, has seen substantial uptake, benefiting over 4,400 Fijians and totaling $49.6 million in funding. Of these recipients, 3,180 individuals earning below $50,000 received around $42.2 million in grants, while 668 applicants with incomes ranging from $50,001 to $100,000 benefitted from $7.45 million in grants. Additionally, 579 applicants were supported through a land purchase program, valued at $5.6 million.
The First Home Ownership Initiative remains a cornerstone of the government’s efforts to improve housing affordability and accessibility for low- and middle-income Fijians. This commitment is echoed in related recent efforts, such as the introduction of innovative zero-deposit home loan products and partnerships with financial institutions to broaden access to homeownership, reflecting a positive trajectory for prospective homeowners in Fiji.
As the government continues to innovate and implement policies aimed at enhancing housing security, these initiatives are paving the way for many Fijians to realize their homeownership dreams, contributing to better living conditions and community stability across the nation.