Leading real estate firm Raine & Horne Fiji predicts growth of 2-4% growth for residential markets such as Suva, Nadi and Lautoka in 2025.
Highlights:
- The Fijian real estate market demonstrated strong resilience in 2024, with sustained demand for residential properties in key urban centres, including Suva, Nadi, and Lautoka. This trend is expected to result in healthy real estate growth of up to 4% in 2025.
- The recent announcement of Google’s FJ$200 million data centre investment, expected to create 3,600 jobs, is set to significantly boost the residential real estate markets in Fiji.
- Infrastructure developments, growing tourism, and the expansion of short-term rentals continue to drive residential property demand in key locations such as Pacific Harbour.
Lautoka, Fiji – 4 February 2025 – The Fijian real estate market demonstrated strong resilience in 2024, with steady demand for residential properties in key urban centres such as Suva, Nadi, and Lautoka.
This positive trend is expected to drive healthy growth of up to 4% in 2025, according to leading real estate firm Raine & Horne Fiji. This outlook is further buoyed by the recent announcement of Google’s FJ$200 million data centre investment in the Pacific nation, which is set to bolster the local economy and real estate market.
Fiji’s real estate growth in 2024
Ms Shyamlee Raju, Managing Director of Raine & Horne Fiji, says that in 2024, there was sustained demand for residential properties, particularly in Suva, Nadi, and Lautoka, thanks to a growing number of local workers and expatriates leasing apartments.
“The rebound in tourism, combined with ongoing recovery from COVID-19 impacts, has been a major driver,” Ms Raju said.
“Overall, real estate prices in Fiji saw moderate growth in 2024, with some areas such as Nadi and parts of Suva experiencing higher price increases due to ongoing infrastructure developments, such as improvements in transportation, utilities, and tourism-related facilities.
Google’s game-changer for Fiji’s real estate market and economic growth
One of the most significant developments in Fiji is the announcement of Google’s FJ$200 million data centre investment, which, according to the Fijian government, has the potential to create 3,600 jobs.
Ms Raju said, “Jobs created by the data centre will generate greater demand for residential housing, particularly for professionals moving to Fiji to work in or around the tech industry. The Google announcement could spur growth in the rental market and the demand for homes for sale.”
To illustrate, a luxurious three-bedroom penthouse in the heart of Suva within the Brightstar Apartment block on Berry Road is available for rent through Raine & Horne Fiji and is set to attract well-heeled tenants.
Ms Raju said, “This is the most sought-after executive rental property in the heart of Suva available right now, and it is within minutes of the city’s CBD, supermarkets, cafes, restaurants, schools, cinemas and the iconic Colonial War Memorial Hospital.
“This penthouse would be ideal for high-end expatriates and those interested in moving to Fiji for work.”
Other factors driving residential property demand
The demand for short-term rental properties, particularly for Airbnb holiday rentals, has contributed to rising property prices in Nadi, Suva and Lautoka.
“We have seen a growing number of apartments and properties purchased as Airbnbs, which is a hindrance for tenants looking for long-term tenancy,” commented Ms Raju.
“Most properties in Nadi are now run as Airbnbs.”
Pacific Harbour and infrastructure developments
According to Ms Raju, demand for real estate in Pacific Harbour, the tourist mecca on the south coast of Viti Levu, was a notable trend in 2024. Pacific Harbour’s natural beauty, improved accessibility to Suva, which is 50 kilometres away, and relatively affordable property prices compared to other regions drove the demand.
In November alone, Raine & Horne Fiji sold four lots in one week in Pacific Harbour, a significant achievement that underscores the confidence in this market.
Ms Raju added, “Infrastructure improvements, such as better road access to Suva and the development of tourism-related facilities, are making Pacific Harbour an attractive location for both local buyers and expatriates seeking vacation homes or retirement properties.”
Fiji’s real estate market poised for steady growth in 2025
Ms Raju is optimistic about 2025, and she is predicting growth of 2-4% across most regions of Fiji.
“While economic uncertainties and interest rates could introduce some challenges, the fundamentals of infrastructure development, tourism recovery, and increasing foreign investment provide a solid foundation for market growth,” said Ms Raju.
Raine & Horne Fiji also anticipates an increase in foreign investment in the country’s real estate market in 2025. Several factors are driving this optimism, including the upcoming Google Data Centre, will potentially attract international interest.
“Additionally, continued Fijian tourism growth is appealing to foreign buyers, particularly the luxury resorts, beachfront properties, and vacation homes,” said Ms Raju.
“Strong government support for foreign investment further underpins the longer-term outlook, positioning Fiji as an attractive real estate market for international buyers seeking opportunities in real estate.”
In response to this promising growth and outlook, Raine & Horne Fiji plans to expand its network of residential sales agents and offices to better serve local and international clients.
“We are focused on providing tailored advice to first-time homebuyers, expatriates, and foreign investors,” said Ms Raju.
“Our goal is to remain adaptable and embrace digital tools such as Raine & Horne’s first-to-market AI-powered social media marketing tool Amplify[ii] to expand market reach, keeping up with trends like sustainability and tech-driven developments.
“Raine & Horne Fiji has the expertise and resources to adapt to these trends and developments, providing clients with the insights, services, and support they need to succeed in the Fijian residential real estate market.
“With a promising outlook and a growing market, Raine & Horne Fiji is well-positioned to capitalise on the country’s real estate potential in 2025.”