An investment opportunity not to be missed

Pr perty Guide
The key to your new home
12 July, 2014
[email protected]
Picture: SUPPLIED
A beauty at
Uduya Point
An investment opportunity not to be missed
SECLUSION, security and a spectacular view — these
are just a few of the many features of one of Lami’s
most prestigious properties currently up for sale.
Located along Uduya Point, this property is a must-see
if you’re looking for a peaceful place.
Full coverage: PAGE 8
Renovations
Home loans
Freehold land
Nakasi developments
THE FIJI TIMES — SATURDAY, JULY 12, 2014
1
Inside this
week ...
Property Guide
E: [email protected]
Property Guide
When buying a house
A
In recent years the Nakasi area has
developed greatly ...... P4-5
IF you’re looking to purchase an
investment property with existing
rental returns ....... P6
THE property market is gathering
momentum in Fiji ................ P7
E: [email protected]
The residence is a rare find in one of Suva’s most
loveable and quiet residential neighbourhoods.
Picture: SUPPLIED
FEATURES:
IMAGINE waking up on a beautiful
sunny morning and looking out at
the vast, flawless ocean before you.
............ P8
z Fully airconditioned
z Freehold land
z Alarm systems
z Solid concrete home
The house is complete with a modern kitchen, master bedrooms, fully
airconditioned surrounding and great security-monitored alarm systems.
Picture: SUPPLIED
A perfect investment deal
S
TEP inside and admire this home’s functional design, impeccably presented
and created in a way which allows for
the entertainment of friends and family
— a place where hosting will feel nothing short
of an absolute delight.
This solid concrete home has been designed
perfectly for today’s modern living, featuring
very neatly kept, safe and secure surroundings
— both inside and out.
The residence is a rare find in one of Suva’s
most loveable and quiet residential neighbourhoods. The property sits on 613 square metres
of freehold land which will definitely impress.
Keep it as a five-bedroom family home for a
big family, or if you’d like, you can easily convert it into a two-flat home.
Failing that, you could keep it purely as an
investment property that can generate remarkable rental returns.
The option really is yours.
S you make plans
to own a house, you
must be clear as to
whether you intend to
buy a newly-built property or
an established property.
An established property
generally means buying an
older house, and maybe renovations and extensions are
required.
Many Fijian consumers who
are investing in a house generally opt for established property.
Therefore, before you invest
in that property, do have it
thoroughly inspected by a professional engineer.
Ask for the house plan and
check with the municipal
council for any illegal structures and to be assured that
the property you are buying is
legal.
Even if you do not intend to
renovate, a building inspection
before you buy can identify
repairs and maintenance required to understand the total
cost of the property.
Legal due diligence is a
must.
First and foremost, ensure
you visit the property, as you
are intending to spend money
on it and do not rely on the
description given by the real
estate agent or the seller.
Consumers may consider
the following to make an informed decision:
z Location of the property
(the neighbourhood it’s in)
z The type of land it’s on
(freehold, crown or native
lease)
z Age of the property (how
old is the property and what
is the level of renovation work
that will be required?)
z Its structure (is it wooden
or concrete?)
z Walls, tiles, paint, mouldy
walls, tiles, peeling paint or
pools of water in wet areas
can indicate excessive moisture
z Rusty roofs
z Check the surrounding
where the property is located,
as we have seen a number of
cases where there are termite
infestation problems
z Size of the property
z Plumbing (blockage of
toilet/kitchen pipes)
z Drainage
z Other costs in addition to
the asking price associated
purely with the chosen property must be factored in such
as legal fees, stamp duty,
documentation fees etc.
z Ensure all paperwork is in
order with the previous owner
z Ask for Engineers Certificate and ensure the
certificate is valid and the
certificate is endorsed by an
accredited engineer recognised by the Fiji Institute of
Engineers.
z Check for arrears in city/
town rates or
z Ask for valuation report
z Check for arrears in utility
(water and electricity) bills
z Other necessary documents relating to the transfer
of the property (if bank is
engaged)
Source: Premila Kumar,
Consumer Council of Fiji CEO
PHONE: SUVA: 330 2268 | NADI: 675 0420
FOR SALE
Complete with a modern kitchen, master
bedrooms, fully airconditioned surrounding
and great security-monitored alarm systems
with extra storage or bulk area.
The property has a valid engineer’s certificate which is also a plus.
Outdoors, double car parking space, lawn
and gardens are all secured by perimeter fencing and gates, which allow you to enjoy that
quiet and private lifestyle.
The location is powerful with supermarkets,
cafes and restaurants all no more than a twominute drive away.
Don’t miss your chance to secure this astonishing property.
For more information on the property or for
opportunities to view it for yourself, contact
Savinesh Mudiliar on [email protected] or
992 9090.
Launching Soon – The Moorings, Denarau. Register your
interest for pre-launch invita�on: enquiries@bayleysji.com.ł
SUVA, Waimanu Rd – Just listed
two storey concrete structure
offering 6 ats. Freehold
investment property. Neatly
maintained, fenced, amazing
harbour views, parking area.
Loads of poten�al for further
development. An opportunity not to be missed. Comes furnished.
Call Shane 996 0061
Source: Harcourts Fiji
NAUSORI, River Road –
Located at the junc�on of
Rewa Street and River Road,
along the Rewa River banks
in the exis�ng Nausori Town
boundary. Sprawling along the
site is a substan�al single storey
building and the land area of 2595 sqm. Current Valua�on $860,000
– offers invited. Call Shane 996 0061
YASAWAS, Davuilau Island –
54 acres private island in the
Yasawa Islands. 99 year tourism
lease. Reachable by boat,
helicopter and occassionally
a low �de sand bar, the island
The property sits on 613 square metres of freehold land which will definitely impress.
Picture: SUPPLIED
2 THE FIJI TIMES —SATURDAY, JULY 12, 2014
Even if you do not intend to renovate, a building inspection before you buy can identify repairs and maintenance
required to understand the total cost of the property.
Picture: BLOGSPOT
Nadi: Ground Floor, Appraisals Pacic Building, Mar�ntar
Ph: 675 0420 | Fax: 675 0421 | www.bayleysji.com
Suva: 1 Thurston Street | Ph: 330 2268 | Fax: 330 2322
Licensed Real Estate Agents No. 0038
THE PACIFIC’S PROPERTY PROFESSIONALS
remains a distant yet secure place of residence for any and all who
desire to bask in its white sandy beaches. F$4 million. Call Susan
999 1458
CORAL COAST – Price reduced!!
A spectacular freehold private
estate si�ng on approx. 20
acres. This rare freehold
beachfront property yields the
perfect venue for a world-class
resort or an ideal private estate.
Excellent landscaping. USD $695,000. Call Sapna 997 7817
VUDA – Stunning sec�on,
well elevated si�ng on 1.15
acres of na�ve leaseland.
360 degree panaromic siew
views. Make an offer today.
Call Sapna 997 7817
NADI, Malolo – Double storey 4
bedroom home, 2 bathrooms,
separate play room. A staircase
leading up to a picturesque a�c
providee a warm and invi�ng
atmosphere. Crown land.
Perfect for rst home buyers.
$270,000.
Call Sapna 997 7817
NADI, Votualevu – Fresh to
the market these freehold
residen�al lots are all
approximately 1000sqm. This
lovely elevated residen�al
area enjoys beau�ful views,
some to the Sleeping Giant.
This residen�al enclave is close to the new Votualevu Shopping
Centre with supermarket and specialty retail outlets and restaurant.
$120,000 (VIP). Call Susan 999 1458
DENARAU, Hilton Villas – 2
bedroom beachfront single
key on the ground oor $600,000 and 1 bedroom
garden view rst oor $300,000 and 1 bedroom
beachfront $499,000. Owners
get 10 weeks usage per
annum. Call Susan 999 1458
PACIFIC HARBOUR – Located
in Sec�on B of Pacic Harbour,
Villa 327 is on Bunako Circle
off Vi� Levu Drive. The
fully fenced property has
a single storey concrete
villa completed in 2010.
The freehold land of 1123
square metres consists of a
4 bedroom house including an ensuite. Owner has migrated and
needs to sell. Asking $450,000. Call Susan 999 1458
MAMANUCAS, Malolo Island – Enjoy the
breathtaking ocean views and the tranquility
of this 817 sqm site on Malolo Island. Just
a short boat ride to the world famous
“Cloudbreak” surng site and overlooking
the new Vunabaka Marina. Build your dream
home and secure your future “home away
from home”. Call Dick 998 5790
SIGATOKA – 3 bedroom
execu�ve house including an
en-suite upstairs, open plan
and 2 ats downstairs both
2 bedrooms each. Separate
storage and tool room.
Roo�op with spectacular
views. A must view! $550,000
neg. Call Sapna 997 7817
PRINCIPAL SPONSORS OF THE BAYLEYS
FIJI CORAL COAST SEVENS
THE FIJI TIMES — SATURDAY, JULY 12, 2014
3
Property Guide
E: [email protected]
Investing in Nakasi
In recent years many developments have taken place in Nakasi thus attracting more investors.
N
AKASI 9½ Miles is a suburb located
along the Suva to Nausori corridor
and is located only 15 kilometres
northeast of Suva City and 5 kilometres south of Nausori.
The Nakasi commercial business district is
located along Kings highway and Wainibuku
with a concentration of commercial activities
near the Nakasi roundabout.
In recent years the area has developed
greatly and several developments have
started to open.
4 THE FIJI TIMES —SATURDAY, JULY 12, 2014
There are several thriving commercial precincts emerging in Nakasi, such as the Tebara
Shopping Plaza which houses New World, a
pharmacy, medical clinic, bookshop, sports
shop, DVD shop, Grants Betting Ltd, Courts Fiji
and Jack’s Little India with many other retail
shops.
Romil Prakash of Excellent Realtors believes
the Nakasi area represents good value for
property owners.
“Nakasi is definitely an up-and-coming area.
There have been many new developments and
Nakasi is
definitely an
up-and-coming
area. There
have been
many new
developments
and I think this
area is set for
more growth.
Investors
should
seriously
consider Nakasi
Picture: SUPPLIED
I think this area is set for more growth. Investors should seriously consider Nakasi.”
Mr Prakash also spoke of the advantages of
living in Nakasi.
“The area is very convenient, with Nakasi
town having everything you need, such as
all the major supermarkets like Shop N Save,
RB South Point, Rajendras Supermarket, MH
Supermarket, Carpenters Hardware. Kasabias
Hardware, GMR Hardware and Courts Fiji.”
More development is planned for the area
and Mr Prakash believes the new multi-million
dollar Nakasi City will promote even more
investment in the area.
If you’re looking to buy or sell in Nakasi,
contact Romil Prakash of Excellent Realtors on
+679 953 2729 or email at exreal99@gmail.
com.
Source: property.com.fj
THE FIJI TIMES — SATURDAY, JULY 12, 2014
5
Property Guide
E: [email protected]
Property Guide
E: [email protected]
Your right to housing How to attract buyers
O
WNING a home now in Fiji
has never been made easier and affordable than it
is now, thanks to the 2013
Constitution, which now entrenches
the right to housing for all Fijians.
And Housing Authority of Fiji has
now aligned its work to reflect this
constitutional right in its effort to offer opportunities to assist Fijians to
own a home.
The authority now has the mandate and responsibility to ensure
“the progressive realisation” of “accessible and adequate housing…” is
provided to Fijian people.
As such the authority has changed
its focus to land development as its
core purpose to address the high demand for land and house packages.
At the same time the authority
continues to offer one of the most
competitive home loan packages in
the market through its “Toso Mai”
product.
Keeping in mind the target market
are the low to middle income earners
or those earning less than $50,000
per annum joint household income.
The Toso Mai home loan package
was specifically designed for this
target market.
With the best home loan rate of
3.95 per cent for the first 12 months,
4.95 per cent for the next 48 months
before reverting to 7.50 per cent
variable interest rate — this package
called “Toso Mai Dua” specifically
targets those earning $25,000 per
annum and below.
It is also the only home loan product available in the market with a
fixed interest rate for five years.
On the other hand, the “Toso Mai
Rua” home loan package is designed
for customers earning above the
$25,000 income bracket.
This package attracts an interest
rate of 3.95 per cent for the first 12
months before reverting to a 7.50
per cent variable interest rate.
The “Toso Mai Tolu”, the third
package, has been designed for existing home loan customers earning
$10,000 and below.
This means the authority has reduced its variable interest rate from
7.50 per cent to 5.0 per cent.
This review will allow customers to save more from their current
repayments or pay off their home
loans quicker.
Customers in any of these categories are most welcome to drop
in at any of Housing Authority of Fiji
branches with their current pay details together with their Fiji National
Provident Fund housing eligibility to
T
HE property market is gathering momentum in Fiji and it’s best to give your property
the best chance of being sold.
So what can you do to get the buyers interested?
1. Rethink the asking price
Price is the biggest factor and the longer your
home sits on the market, the staler it will become.
If there are other houses for sale nearby that offer
a better deal (and be honest with yourself), it could
be time to rethink your asking price.
2. Review your agent’s marketing strategy
Talk to your agent about refreshing your flyer,
brochures and even taking fresh photographs of
Source: Housing Authority of Fiji your property. Discuss the possibility of listing the
property on different websites and see if you can
attract a wider market of buyers.
3. Be objective about presentation
At the very least you should think about whether
your home is really presented in the best possible
way — free of clutter, perfectly clean, a fresh coat
of paint and neat garden.
4. Take a break
When a home has been for sale for a long time
some buyers will wonder why it hasn’t sold and
even your agent may be less enthusiastic about
promoting your home. At that point it can help to
take your home off the market for a while and relist it a few months later.
5. Is it time to go exclusive?
Is your property listed with multiple agents?
Have you decided not to sign with an agency in
case you sell it yourself? If you’ve answered yes,
it might be time to reward the agent you trust the
most and let them focus on your property exclusively.
With some small changes to your price, selling
strategy or your home’s presentation you could be
well on the way to selling your home.
take advantage of this home loan
package and save money for their
families while owning their very own
first home.
Housing Authority of Fiji acknowledges the assistance of the Reserve
Bank of Fiji on the review of the loan
conditions to allow more middle to
low income customers access to this
product.
For more information please contact Brenda Ragi, Senior Public Relations & Communications Officer on
999 3915
Source: property.com.fj
TIP BOX:
z Try and rethink your
initial asking price
z Discuss your
agent’s marketing
strategy with them
z Be as objective as
possible about your
home presentation
z Take it off the
market for a while and
then consider putting
it back on later
z Consider going
exclusive with an
agent
When a home has been
for sale for a long time
some buyers will wonder
why it hasn’t sold and
even your agent may be
less enthusiastic about
promoting your home. At
that point it can help to
take your home off the
market for a while and relist it a few months later.
Picture: WORDPRESS
This property includes
three flats, with one
three-bedroom flat on
the top floor and double
two-bedroom flats on
the ground floor.
FOR SALE
Shop 3A Ground Floor, Vanua House, Suva O: 331 0069 F: 331 0070
Picture: SUPPLIED
This property sits on 605 square metres of freehold land.
Picture: SUPPLIED
A perfect investment opportunity
IF you’re looking to purchase an investment property with existing rental
returns, make sure you consider this
excellent freehold investment opportunity.
This property is located on Gray Rd,
Mountain View in Martintar, Nadi.
Set on 605 square metres of freehold land, this property includes three
flats, with one three-bedroom flat on
the top floor and double two-bedroom
flats on the ground floor.
All flats are currently leased and
with some small improvements, could
be leased for increased returns without trouble. The structure can also be
extended upwards, with possible expansion on the rooftop.
The property is located close to everything in the local Nadi area such as
shops, restaurants, cafes, supermarkets and pharmacies.
All flats are currently leased and with some small improvements.
6 THE FIJI TIMES —SATURDAY, JULY 12, 2014
Mr Praneel Dass of Inglewood Realtors believes this property is the best
investment opportunity in the area.
“There are many buyers looking for
investment properties that have an excellent potential for rental returns and
capital growth.
“This property on Gray Road is the
perfect investment opportunity and
will allow the future owner to take full
advantage of the strong rental market
Picture: SUPPLIED
in the West.
For all enquiries contact Praneel
Dass of Inglewood Realtors on +679
999 2199 or email at info@inglewoodfiji.com
Source: property.com.fj
The structure can also be extended upwards, with possible expansion on the rooftop.
Picture: SUPPLIED
We’ll Make your Dream Real
www.rhooker.com.ł
THE FIJI TIMES — SATURDAY, JULY 12, 2014
7
Property Guide
E: [email protected]
Safe, secure and
beautiful
Your chance to a modern living
The land area is 1597 square metres and the subdivision has a protective sea wall together with walkways, a driveway and a boat ramp spanning the seafront for recreational
activities by property owners.
Picture: SUPPLIED
I
The land is perched at an elevated position with easterly
views overlooking the city of Suva.
Picture: SUPPLIED
MAGINE waking up on
a beautiful sunny morning and looking out at the
vast, flawless ocean before you.
You feel relaxed, the quietness, the absence of clutter,
the secure feeling of having
the security of a gated waterfront community — daydream
no more!
New to the market, but not
for long, is this prized freehold
residential vacant lot perfect
for today’s modern living.
The home site is a rare find
in one of Lami’s exclusive waterfront neighbourhoods.
Only a couple of minutes
drive away from Lami Town,
also known as the Garden
Town, and 12 minutes drive
from Suva City is Uduya Point.
An exclusive waterfront
gated subdivision with full
time security services that
provide access only to residents and their associates.
The neighbours include
business executives and expatriates who enjoy the waterfront lifestyle.
The land is perched at an elevated position with easterly
views overlooking the city of
Suva, the Suva Harbour and
the wondrous Bay of Islands.
The land area is 1597
square metres and the subdivision has a protective sea
wall together with walkways,
a driveway and a boat ramp
spanning the seafront for recreational activities by property owners.
This could all be yours at
the price of $F365,000.
To buy into the experience
of Suva City’s finest waterfront living or to have a look
and get a closer glimpse of
what could be yours, call Mark
Acraman now on 9006407.
Source: Bayleys Fiji
This waterfront gated subdivision has full-time security
services.
Picture: SUPPLIED
The importance of renovation
By DAWN GIBSON
R
ENOVATION is very similar to maintenance in terms of its importance
when it comes to caring for your
properties — it is a natural part of
repairing your home after years of being
beat down on by the sun, the rain and all
sorts of weather differences.
So, paying attention to the importance
of renovation is paramount for homeowners, says Fiji Real Estate Agents Licencing
Board CEO Ravinesh Murti.
8 THE FIJI TIMES —SATURDAY, JULY 12, 2014
“The properties deteriorate over the
years. It is important to renovate the
property on a regular basis. Apart from
renovating the property, the fencing,
retaining walls, carport and drains, among
other areas, need to be maintained well,”
Mr Murti said.
“The gutters and roof of the property
also need to be regularly cleaned and
painted as they are exposed to sunlight,
rain and wind constantly.
“The types of lighting also speaks about
the property. The modern down lights, wall
lights, garden lights certainly look attractive at night. The type of paint speaks
much about the outlook as well. The homes
should be painted at least once in every
three years and the quality of paint and
colour combination is very vital.”
He said it was important to take into
account the type of building materials used
as well.
“The type of timber and tiles used is very
important to gauge the value of a property.
One can get a cheap tile for as low as $1.
People need to be vigilant of the quality of
materials used in the property.
“The type of doors and windows used in
the property also resembles its improvement value. It is important to renovate
the property whether they are executive
properties or just a standard house.
“If a person can not afford to renovate and paint the property often, grab
a scrubbing brush, janta and detergents.
Often, properties just need to be cleaned
regularly. It’s disappointing to see that
some people simply don’t care about their
property.”