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Purchasing
land on Taveuni Estates
What are the differences between
the lots?
The lots are on various elevations ranging from coastal
to 1250 feet. All of the lots offer stunning views, it
really is personal preference which level you choose.
While lower lots are nearer amenities, higher lots enjoy
cooler weather. Some lots are next to reserves or creeks.
When you have decided which elevation you would like the
next step is to decide which direction you would like
your property to face - some of the lots are more North
or West facing than others though of course you can always
build your house to face a certain way.
All of the lots are approximately an acre, however some
are slightly less and some slightly more. We can provide
the exact dimensions and gradients of any lot that interests
you. |
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What
is the criteria for pricing?
The criteria used to price the available lots is based
on location and aspect. For example, the more valuable
properties face North West and look out onto the sea and
surrounding islands. These properties are cooler in summer
due to the view angle at the front of the house and the
island's latitude. The more southerly facing properties
are more exposed to the afternoon sun and overlook the
sea, as opposed to the sea and islands. Other factors
to take into consideration are features such as location
next to a reserve or stream, etc. |
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What
is the purchase process?
The process of purchasing would involve the execution
of Taveuni Estate's Standard Sales and Purchase Agreement
and the placing of the free and clear title in escrow
with local solicitors until the transfer is complete.
In the case of Taveuni Estates financing the purchase,
we would take a mortgage over the title until the payments
are complete.
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Is Finance Available?
We are currently selling land on the basis of a 20% deposit with transfer of title and the balance to be settled over 5 years in monthly repayments on interest free terms secured by a first mortgage.
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Can one obtain permanent residency in Fiji?
Another big plus when investing in Fiji real estate is
the government’s attitude toward non-residents investing
in their country. Fiji encourages foreign investment and
as a property owner you are automatically entitled to
apply for Permanant Residency Status, which in most cases,
is a straight forward process provided you meet the basic
requirements. These include the investment of a minimum
sum of F$75,000 in property and can substantiation of
an annual income of more than F$25,000. The Permanent
Residency application form can be completed once you have
evidence of your proof of purchase such as a completed
Sales and Purchase Agreement and the application fee is
F$451. It is not essential to obtain your Permanent Residency
Status unless you intend to reside permanently in Fiji.
A standard Tourist Visa (which you would automatically
obtain on arrival at the airport in Fiji) grants you a
stay of up to 4 months at a time and can be extended for
a further 2 months. Permanent Residency Status does not
entitle the holder to work in the country. This is a more
involved process which varies depending on the circumstances. |
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Explain
the different types of land in Fiji
There are three types of land in Fiji:
- Native land owned by
the indigenous Fijians which makes up 80%
- Crown Land owned by
Government for the use of schools, hospitals, roads
etc. which was appropriated by the old British Government
and returned to the original Fijian landowners last
year and leased back.
- The third is freehold (fee
simple) land 8% owned by individuals of all
races of which Taveuni Estates forms a part.
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How
would I be sure that my investment in TE is secure?
As to the security of Taveuni Estates and any concern
for ongoing provision of services, we can tell you that
the Estate is owned by a fourth generation Fiji Citizen
through his family Company Somerset Holdings Ltd, which
was founded in the 1860’s. Taveuni Estates is a
debt free Company and is self sufficient through its agricultural
and service charge income, allowing the owner to offer
finance to purchasers. |
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