Regional Road May Stabilize Housing

Oct. 3, 2017, 6:22 a.m.


A leading valuer has suggested that a regional road could help stabilise housing pressure in the greater Suva area, with an investigation into transport infrastructure imperative for economic, social, political and environment development.

Rolle Associate principal valuer, Louzanne Sahib said housing stock has remained slow in the whole of the greater Suva area with only one developer- the Housing Authority of Fiji – providing supply over the past decade.

“As an important support and substratum of accessibility, transportation plays an integral role in future growth and development of urban areas,” she said at the Fiji Institute of Valuation & Estate Management annual conference.

A case study presented by Sahib on the Greater Suva Area noted its formation of a linear conglomerate corridor with four integrated townships of Lami, Suva, Nasinu and Nausori, and development focused along major road networks.

These townships had approximately 30,000 properties that predominantly constituted residential properties.

Sahib suggested that the construction of a regional road would open up land for further development and a potential increase of supply of residential land to potentially stabilize property value in the greater Suva area and improve mobility and associated costs.

“Limited supply plus high demand equals high prices. This problem will grow in due course if there is no increase in supply.”

Fifty-one per cent of the country’s 850,000 population reside in urban areas, with the Bureau of Statistics predicting an increase to 60 per cent by 2030.

As the capital and Fiji’s main business and commercial centre, Suva has witnessed steady growth with significant pressure on the transportation system, Sahib added.