According to many experts, "Fiji presents one of the most value driven real estate markets in the world." The area of the country currently experiencing the largest tourism and building boom is the Western Division of Viti Levu, the Northern Island of Vanua Levu and the adjacent islands. Nadi, in the Western Division, is home to the Fiji’s major international airport and is the commercial hub of this area. Nadi real estate prices have nearly doubled in the past two years and construction of apartments, condominiums and hotels has increased by 300% in the last three years. Major upscale hotel chains, like the Hyatt, Radisson and Hilton are offering condo hotel suites in the area at unprecedented prices. The reason for this accelerated growth is the accessibility to its international airport, bringing in close to 500,000 visitors each year (Fiji Visitors Bureau). Major airlines are now adding flights to Fiji. According to government officials the growth has just begun and will continue for the next decade. |