As of Monday, October 24 the Real Estate Agents Licensing Board (REALB) has conducted 1168 property surveys in the Central Division.
The survey is part of the National Property Sales Database (NatPro) Portal project to collect additional information on properties sold in the Central, Eastern, Western, and Northern Division between 2018-2021.
Managed by REALB the survey began in June this year and would continue until all four divisions are covered.
Registrar, Peni Komainavoka says the additional information gathered from the survey is available to the general public and can be accessed in the NatPro Portal through our website https://www.realbfiji.com/natpro
He said the information would assist members of the public to better understand the property market and pricing assessment for respective neighborhoods.
"Recent sales of similar properties in your community are one of the best ways to gauge the value of your home. These comparable homes are often referred to as "comps,” Mr Komainavoka said.
“Most real estate experts will rely on comps to estimate your home value, whether it's a home appraisal or a comparative market analysis.”
Mr Komainavoka says it’s easier to avoid common home-selling mistakes if vendors are aware of the factors that influence their home value.
“Consider these factors when pricing your home to help attract serious buyers and prevent long days on the market, which ultimately come at a cost.”
Between 2018-2021 about 6,931 properties were bought in the Central, Eastern, Western, and Northern Division.
He said Pacific Harbor, Domain in Nasese, Wanibuku Subdivision, Tacirua East Subdivision, Hexagon Complex in Davuilevu, Nausori Subdivision, Laucala Beach, and Nadawa were a few of the hotspot places in the Central Division during this time.
Most properties are bought in these areas because of their location (close proximity to essential services), land tenure type, and reasonable pricing.
The boost in Fiji’s economic activity is evident in the picking up of property sales, which had increased in the first three months of this year, compared to the same period in the previous two years.
This has continued well into this year as economic indicators have shown in the September 2022 Economic Review by the Reserve Bank of Fiji, which highlighted an annual growth in investment activities in the real estate industry.
All of this is attributed to the increase in the stimulus packages offered by the Fijian Government and financial institutions post-COVID recovery
Members of the public are advised to provide assistance and support the team from REALB when coming into contact with them.
You can always ask our officers for their identification cards and run a background check for verification by calling 3300355 or send an email to email@example.com
For more information/details on this pleasecontact REALB at their website:www.realb.org.fj, email: firstname.lastname@example.org or call 3300355.