Lots have sold out at several new subdivisions off the main Fantasy Island Rd in Nadi, with Chinese buyers constituting the bulk of consumers for this rising area.
The sales include respective 28 and 36 lots at two residential subdivisions. These are alongside about 20 lots measuring 1500sqm each at a new industrial subdivision, with several sold to local businessmen.
“The lots were priced from $99k VEP to $550k each, and about 60 percent of the buyers are Chinese from mainland China, with the remaining buyers made up of locals,” confirmed realtor, Johnny Singh of Property Experts.
He said buyers snapped up the lots for investment and retirement purposes, amongst other plans.
Located near the private, residential precinct of Fantasy Island, the new subdivisions command close proximity to the backpacker hamlet of Wailoaloa Beach and Martintar’s strip of retail and entertainment outlets.
Mr Singh added that a recent road network expansion linking Martintar to the Denarau Rd via Wailoaloa, had added to the area’s appeal.
“Property prices would have risen from 20 to 30 percent after the development,” he said.
The new subdivisions aren’t the only projects taking shape in the vicinity, with 29 lots within the gates of Fantasy Island also underway. This will entail 26 residential lots, two commercial lots and a hotel site.