21 Nov 2011

New Caledonia imposes one-year rent freeze

3:06 pm on 21 November 2011

The New Caledonian government has declared a one-year rent freeze to curb the high cost of living.

Noumea's daily newspaper, Les Nouvelles Caledoniennes, says there was no indication when the measure was to come into effect but it says the decision was inscribed in the official journal on October the 11th.

A similar step was taken by a previous government in 2007, but without lasting effect.

The paper says in the north of the main island, some towns have seen rents nearly double in three years.

It says there is concern that property maintenance may be put off because of the freeze.