Fiji Real Estate

At the threshold of an exponential economic growth is the Republic of Fiji Islands in the South Pacific Ocean. Bordered by Tonga, Vanuatu and Tuvalu, this island nation is composed of two major islands namely Viti Levu and Vanua Levu, inhabited by a people of diverse ancestries such as Polynesian, Melanesian and Indo-Fijians, as well as a significant percentage of Indians, who were imported to the country by the British colonizers.

Over the nineteenth century, UK dominated the islands until 1970, when the British government granted the Fijians their independence. The evolution of Fiji as a nation was marked by numerous internal conflicts and coups such as that led by George Speight. These mutinies significantly affected the state of the country's economy. In 2001, a collective effort to reinstate democracy among the islands was concretized through a national election.

Since the country's independence, it has struggled to achieve a relatively subsisting economy, disturbed by sporadic rebellions in the 1980s. However, the market's liberalization in the subsequent years paved the way for various local industries to flourish. These local industries include fabric and garment production, agriculture and product export, electronics, and information technology. Fiji houses about 100 companies that export considerable volumes of garments each year. The country's land assets were equally developed to cater to tourists and real estate investors.

Determined to escalate the nation's fiscal competence, the local government has dealt with the land tenure issues among the locals. About eighty-three percent of the territory is considered private properties of the locals. Given the potential of properties in Fiji and the business sector's strategy of decreasing mortage rates, the country's real estate ventures have been intensifying.

Most real estate agents are actually delved in luring major investors to Fiji's tropical features, as latent destinations of high-class resorts. At the same time, both the business sector and the local tourism unit banks on the city's location in relation to the Prime Meridian, owing to its highlight as one of the first nations to meet a new day. This refreshing feature, combined with its numerous beaches and sultry atmosphere attract not only tourists but similarly, property buyers. Residential to commercial properties are magnified as potent investments in Fiji. Investment opportunities are not limited to seasonal influx of tourists during holidays, but include other special occasions such as weddings, and honeymoons. The real estate market has also been pushing ideal properties along the beach with astonishing views of the ocean, as well as picturesque villas in any of the three hundred islands across the nation.

Fiji is blooming with various natural resources that have made it among the better performing economies in the Pacific. It has an affluent mineral deposit and lush forests. Its seas produce quality fishes that are regularly exported. Most of all, it is lined with an extensive and immaculate beach front that attracts vacationers from all over the world year round.

At present, Fiji is exploring new grounds as it boosts its exportation capabilities. Over the years, the region has been successfully providing sugar to its adjacent countries. While sugar farming and processing remains to be among its major industrial occupations, the country's conflicting land tenure situation causes major inefficiency in the part of the local farmers.

Reinforcing local productivity, Fiji has opened itself to the many prospects of technology. Telecommunication and information services have raided the country with its cheaper labor resources and convenient time difference with other nations. Multi-national enterprises on outsourcing and information technology are significant in the urbanization of Fiji as they lead the propagation of business centers and infrastructures in the islands.