PNG Real Estate News

Raising the Bar on Construction

Raising the Bar on Construction

There is a desire when constructing infrastructure in Papua New Guinea to have it be within reasonable costs, together with topnotch materials and output that will last for years. But this has not been the case for the past five years. That’s according to outgoing president of the Papua New Guinea Institute of Engineers, Ila Mari.
Counting the … Read more »

Hausples.com.pg Releases 2017 Real Estate Sentiment Survey Results

Hausples.com.pg Releases 2017 Real Estate Sentiment Survey Results

Click to download the full report

Hausples.com.pg, Papua New Guinea’s leading real estate portal, is excited to share the results of the 2017 Real Estate Consumer Sentiment Survey. The survey sheds light on crucial information vital for property industry professionals such as Government authorities, … Read more »

Green or Gold: Painting the Future of Ela Beach

Green or Gold: Painting the Future of Ela Beach

Ela Beach is Port Moresby’s primary public beach. It houses the country’s whitest sands, beautiful waters, and a range of various recreational facilities like beach volleyball and basketball courts, a boardwalk, an amphitheater, and a few kiosks. Or at least that’s what it was. Now it’s playing host to a rather controversial development that … Read more »

Harbourside West: Make Business a Pleasure

Harbourside West: Make Business a Pleasure

Papua New Guinea is becoming an increasingly interesting investment location for business and industry expansion. But it’s also becoming a breeding ground for many emerging startups that come from various industries and sectors. So, it is typical for these businesses and individuals to expand their physical work space as they expand their network.
How do you Find the Perfect Office Space?
Great work spaces need to address the needs of the business … Read more »

Infrastructure Opportunities Amidst Calamities

Infrastructure Opportunities Amidst Calamities

A portion of Papua New Guinea’s population is now trying to recover after extreme floods recently devastated their properties. Homes were submerged alongside gardens, crops, and even livestock. Other than that, surrounding roads also seemed to have lay to waste as the storm subsided. This has called into question the construction quality of infrastructure.

Image Source: … Read more »

Contributing or Confusing: PNG Infrastructure

Contributing or Confusing: PNG Infrastructure

Playing a huge part as a factor affecting growth and as an indicator of it, infrastructure is easily an essential element that affects people’s way of life in Papua New Guinea. It offers accessibility, comfort, convenience, and opportunities. But is the end result of building PNG infrastructure really all fine and dandy?
Image Source: onepng.com

Building Bridges
Land and property … Read more »

National Capital District: Navigating New Opportunities

National Capital District: Navigating New Opportunities

The landscape of the National Capital District in Papua New Guinea has shifted in the few years of development it has gone through. And it seems like surrounding areas are about to experience the same treatment while the government pushes for a more progressive and modern appeal.
Parceled-off land in the outskirts are being structured to accommodate more commercial and prime residential real estate developments. But in order to more efficiently … Read more »

Incorporated Land Group: Minding Misconceptions

Incorporated Land Group: Minding Misconceptions

Customary landowners may be perplexed and intimidated with the system of registering their land as Incorporated Land Groups through the Voluntary Customary Land Registration. These might be due to either worries of the underlying costs or the complexity of the process itself. But this also might be a good long-term investment.

Image Source: abc.net.au

Requirements
Registering land as an Incorporated Land Group isn’t … Read more »

Archdiocese of Rabaul: Housing Project from Heaven

Archdiocese of Rabaul: Housing Project from Heaven

Various housing projects and policies have been popping up in the real estate sector of Papua New Guinea. For instance, the National Gaming Control Board has issued the first ever housing policy that aims to distribute shares from 20 land leases to loyal employees.
The Government of Papua New Guinea has also been partnering with local and international developers to construct low-cost housing in the form of Duran Farm. … Read more »

New Housing Benefit Tax: Clearing the Air

New Housing Benefit Tax: Clearing the Air

Eyebrows were raised after the announcement of a change in housing benefits for 2017. But the government was quick to come to its defense and explain that the uproar is nothing but a product of a misunderstanding. This is a sentiment that was explained by Treasury Secretary Dairi Vele during a conference with media outlets.

 
Sorting out Speculation
Secretary Vele noted that … Read more »

Highway to Change: The Foreign Connection

Highway to Change: The Foreign Connection

The real estate and land markets in Papua New Guinea are slowly gaining traction as new developments both in policies and construction begin to commence. These includes both factors for future changes and ones that are currently underway. But what exact impact do these developments have for businesses inside the said industries for citizens and non-citizens? A closer examination might help…. Read more »

PNG Economy: Better and Bolder

PNG Economy: Better and Bolder

The Papua New Guinea real estate sector has seen its fair share of ups and downs. But a couple of new activities in the market may be able to help stabilise its continuous growth and contribute to the PNG economy.

Image Source: emtv.com.pg

Building Structures and Building Lives
Other than the prominent use of customary land titles in Papua New … Read more »

PNG Real Estate and its Current State

PNG Real Estate and its Current State

One of the components to the growth of Papua New Guinea are the project pipeline and the attractive investment opportunities for investors in the PNG real estate sector. This is according to the Oxford Business Group’s “The Report: Papua New Guinea 2016.” The Oxford Business Group is an international research, consultancy and publishing firm.
The report included interviews with Frank Kramer, CEO … Read more »

First Home Ownership Scheme: A Catalyst for Growth

First Home Ownership Scheme: A Catalyst for Growth

Real estate has been one of the main focuses of the Papua New Guinean government, both to offset homelessness brought about by poverty and to improve the economic growth. Many projects have been done to do this such as the housing project launched by the National Gaming Control Board for their loyal employees.
Another initiative has been around for quite some time now and drawing significant attention from developers and PNG … Read more »

Incorporated Land Groups: Selling or Incorporating?

Incorporated Land Groups: Selling or Incorporating?

With the intent to safeguard the security, welfare, and the future of clans in Papua New Guinea, they are being encouraged by the government to place their customary land under the Incorporated Land Groups (ILG) as opposed to selling them. This is to ensure that the land gets a return value while remaining under their ownership. But what exactly is ILG and what are the benefits of placing customary land … Read more »

Duran Farm Project: Chinese Partnership Brings Hope

Duran Farm Project: Chinese Partnership Brings Hope

According to the World Risk Index for 2016, Papua New Guinea is ranked number 10 out of 171 under the list of countries that are “most at risk of disasters”. Factors for arriving at this conclusion involves the evaluation of key elements such as poverty, slum housing, and law enforcement.
In an effort to offset this, the National Housing Corporation commissioned … Read more »

Port Moresby Electrical Shaping PNG’s Construction Industry

Port Moresby Electrical Shaping PNG’s Construction Industry

Papua New Guinea is a resource-rich country and a growing area for different construction projects and developments that can range anywhere from simple residential to complex buildings, and Port Moresby Electrical has been a huge part of that growth as one of the trusted companies to have shaped the current landscape of the industry solutions sector.
Starting from humble beginnings in 1968, they have slowly worked their way up to … Read more »

Housing Projects and New Policies to End Poverty in PNG

Housing Projects and New Policies to End Poverty in PNG

A few years back, Touaguba Hill was just a suburb that was a traditional gardening area for the clans of Hanuabada. Moving to the present time, Touaguba Hill is now one of the more progressive suburbs that boast modern and attractive real estate development and investment opportunities. The area also boasts efficient access to water supply and a 24-hour security system for safety…. Read more »

Growth, Costs and Opportunities of Homelessness in Papua New Guinea

Growth, Costs and Opportunities of Homelessness in Papua New Guinea

Papua New Guinea has seen significant growth in the last ten years. This may be due to the fact that there have been many investors who have placed their money on industries such as oil and copper mining. But what effects have these investments had on the PNG population?

Many developments and infrastructures have also been made such as the PNG … Read more »

ACP Summit in Port Moresby may result in more partnerships and investments

ACP Summit in Port Moresby may result in more partnerships and investments

With the recent conclusion of the ACP Summit held at Port Moresby, 79 leaders from the African, Caribbean and Pacific countries have gathered to discuss lessons learned from each of their respective areas. Possible alliances and collaborative efforts were also topics of discussion for future developments. But the summit held particular interest for developing an “earliest adoption of a United Nations General Assembly Resolution to develop an international legal framework … Read more »

Trans Pacific Assurance Ltd to Provide Superior Insurance Services

Trans Pacific Assurance Ltd to Provide Superior Insurance Services

Recently fire damage has caused huge losses for property owners. Houses have been lost, businesses have ceased operating and motor vehicles destroyed. The health of those effected has suffered and of course medical costs add to the pain experienced.

These events are always just around the corner threatening our safety and security. Those who have taken the … Read more »

A home Ownership Dream Come True

A home Ownership Dream Come True

Maggie Kupp Kuli, 39, from the Western Highlands Province has been a BSP customer since 1999, when she was still a student. She moved into her house recently and the experience was truly rewarding.
“It is with great satisfaction I have my own house, a place to rest, no more rentals and moving from house to house,” she said with a smile.

She utilised the BSP and PNG Government First Home … Read more »

Governemt Housing Scheme: Public Servants to Have Land Titles

Governemt Housing Scheme: Public Servants to Have Land Titles

Papua New Guineans wishing to build their own homes have been constantly faced with the challenge of securing land titles to offer to the banks.
However, this will now be a thing of the past with a launching of a new K20 million government-sponsored housing scheme designed to enable public servants to access state land titles to build their own homes.

The project … Read more »

How to Build your Savings, Even on a Limited Budget

How to Build your Savings, Even on a Limited Budget

Saving is the first step to building wealth and obtaining true financial freedom. But how do you start saving when you have little money left to save?
One of the key mistakes that we do is wait for “spare money or extra bucks” to appear in our fortnightly income, so we can save. For most, that day never comes, and building a savings remains an unchecked task on the list of … Read more »

Gold Coast: Top-Class Destination for Papua New Guinean Investors

Gold Coast: Top-Class Destination for Papua New Guinean Investors

Are you wanting to live an easy lifestyle that is affordable? Look no further than the Gold Coast, a world-class destination famous for its beaches and relaxed lifestyle.
It’s the entertainment capital of Australia. Demand for property is great from investors due to strong economic growth and employment opportunities as a result of many new developments that are being completed…. Read more »

High End Housing Demand Continues to Drop

High End Housing Demand Continues to Drop

We are fast moving into 2016 and it is interesting to note a stall in the demand for quality residential properties, in what is being called a ‘mum and dad’ market.
Despite efforts to offer more housing to the market, demand for high-end housing in Papua New Guinea remained relatively low for the last five years…. Read more »

A Guide to Purchasing Property in Queensland for Foreign Investors Part 2

A Guide to Purchasing Property in Queensland for Foreign Investors Part 2

As many of you are getting ready for the Christmas break, the Hausples.com.pg team in collaboration with Cayman Properties is releasing the second part of the guide manual about purchasing property in Queensland in the fastest, easiest and most secure way. If you have missed the first part of the guide, catch up by reading it HERE!
The Main Steps in the … Read more »

How to Apply for the FHOS (First Home Ownership Scheme)

How to Apply for the FHOS (First Home Ownership Scheme)

The satisfaction of owning a home is truly priceless because your own home is a place to raise your family, and importantly, it can be passed down to provide security for your children.
Many Papua New Guineans do have a dream to own a home, but are often reluctant and put it off until later, due to many reasons, including high house prices, interest rates and repayment terms.

Well there is good … Read more »

Real Estate Agents, Respond to Customer Needs and Succeed

Real Estate Agents, Respond to Customer Needs and Succeed

Learning from customers’ tastes and providing services that best suit their needs is a way towards enhancing the success of a business organisation. This is exactly what all locally owned real estate developer should be doing by offering the most preferred residential property types.

For example, Our Real Estate Ltd has been developing and marketing excellent residential houses to cater … Read more »

The Guide to Purchasing Property in Queensland for Foreign Investors – Part 1

The Guide to Purchasing Property in Queensland for Foreign Investors – Part 1

If you are interested in making an investment in Australia but do not know all the requirements or just need specific information on what are the steps to guarantee a successful outcome, then read our guide to purchasing property in Queensland!
The Four Most Common Reasons Why Foreigners Buy Real Property in Queensland
Most foreigners who consider purchasing real property in Australia do so for one of the following reasons:… Read more »

Affordable Housing Supply and Demand Trend in Port Moresby

Affordable Housing Supply and Demand Trend in Port Moresby

Market demand for low-end residential housing in Port Moresby remains high despite efforts to make available more affordable houses to meet the increasing demand.
While the demand for high-end housing lessened after the completion of the PNG LNG construction phase last year (2014), the limited supply of medium and low end housing cannot adequately cater for the increasing demand … Read more »

The significance of insurance in Papua New Guinea

The significance of insurance in Papua New Guinea

The recent Court’s fires, the Brian Bell fires in Lae, and the continuing car accidents along the Highlands Highway have called on PNG citizens and property owners to insure their lives and properties against these ongoing risks.
The significance of insurance in Papua New Guinea has not been widely acknowledged by citizens in the past … Read more »

Government’s call to provide more affordable housing

Government’s call to provide more affordable housing

With the government’s call to provide more affordable housing to cater for the growing number of people in major towns and cities in Papua New Guinea, a leading property developer is determined to develop and lease houses at very affordable prices to meet housing demand in Port Moresby.
Glory Development Ltd is a locally established property developer … Read more »

Australian Property Investment: Meet the Expert!

Australian Property Investment: Meet the Expert!

There’s more to successful investing than choosing an appealing property. Property investment is a great financial move, however there are some associated risks.
Check out our top 3 dos and don’ts before you make this large financial investment and meet with Ms. Angela Vinnicome from Cayman properties to take the first steps towards buying an investment property in Australia!
Top … Read more »

Australian Government to introduce a A$5,000 Approval Fee for Foreign Investors

Australian Government to introduce a A$5,000 Approval Fee for Foreign Investors

Australia has always been an attractive place for those Papua New Guineans who want to move abroad. Its reputation for high living standards, education system, public transport and much more have made Australia the number one destination and many Papua New Guineans are planning to purchase a home in Australia, more specifically in Cairns for their family to live in and attend School or University at the start of 2016.
However, … Read more »

40,000 fully serviced land allotments over the next five years in Gerehu 3B

40,000 fully serviced land allotments over the next five years in Gerehu 3B

Last week, Charles Abel, the Minister of National Planning, announced a fund of K5 million to be used by the NCDC to commence major civil works on the planned housing and land program at Gerehu in Port Moresby.
The full program, which is being coordinated by Department of National Planning under the Office of Urbanisation, is set … Read more »

Smart Business Loan: BSP has funded over K40 million to SMEs

Smart Business Loan: BSP has funded over K40 million to SMEs

BSP is committed to helping Small to Medium Businesses (SMEs) in Papua New Guinea grow and this is evident in the fact that more than 14,000 SME’s are using the bank’s Smart Business Account and have direct access to finance via the BSP Smart Business Loan.
According to Dennis Konu, who heads … Read more »

Insurance. How to Avoid the Worst Mistake in Property: being under-insured

Insurance. How to Avoid the Worst Mistake in Property: being under-insured

Receive a FREE insurance health check and you will go into the draw for a luxurious dinner for two! 3 x Lucky Winners will be taking a break from their busy Pacific Games schedule to enjoy the superb surroundings of an International Hotel. Call now on 321 6808 or click here to contact the team at Trans Pacific … Read more »

BSP Ticket Giveaway for the 2015 Pacific Games

BSP Ticket Giveaway for the 2015 Pacific Games

Since April BSP has been giving away tickets to randomly selected customers who have successfully conducted mobile banking transaction. In June, BSP is giving away tickets to customers who download and activate the new BSP Mobile Banking App. 
20 customers were selected each week for general admission passes and + 1 lucky customer gets selected for the major giveaway, which is an … Read more »

Gobuta Street Estate Relealising Top Quality Housing Project

Gobuta Street Estate Relealising Top Quality Housing Project

As we are approaching the half year point, affordability in housing is starting to look promising. Just recently we saw the launch of Gobuta Street Estate, a housing project only 20 minutes from downtown Port Moresby.
The development is good news for countless Papua New Guineans out there who are seeking to find not only affordable but quality accommodation.
Located at Tokarara in … Read more »

Infrastructural Developments in PNG Pushing Growth

Infrastructural Developments in PNG Pushing Growth

It is often said that Papua New Guinea (PNG) is a country with an abundance of natural resource wealth. The development of these resources contributes immensely to the country’s growth in terms of revenue. Resource projects like PNG LNG have already increased PNG’s revenue through its first full year of exporting liquefied natural gas from its $US19 billion plant.
More so, these projects have had a positive impact on areas like … Read more »

East New Britain: The Fastest Growing Province in PNG

East New Britain: The Fastest Growing Province in PNG

At the launch of several large projects in the Southern Highlands Province, PNG’s Prime Minister Peter O’Neill said that the “winds of change are coming” to some of the Nation’s most remote districts. In a speech to people in both Kagua and Nipa, he emphasised the dramatic growth rate of PNG’s economy which is driven by new projects and housing developments not only in Port of Moresby, the main … Read more »

Real Estate and Health Sectors: Consumer Price Index skyrocketed

Real Estate and Health Sectors: Consumer Price Index skyrocketed

The recent figures for the Consumer Price Index in Papua New Guinea show a vertical shift for housing and health industries in the last four months. Since October the health sector has experienced a dramatic growth of 24.1percent in CPI conquering the first position in the Consumer Price Index.
Also the Real Estate sector shows a similar and interesting trend with CPI scaling by 14.9 percent. While CPI graph for the … Read more »

Hausples Launches International Properties – Australia & Fiji

Hausples Launches International Properties – Australia & Fiji

Hausples.com.pg  is very excited to announce the launch of a new “International Section” featuring Fijiand Australian properties.
Whilst Hausples.com.pg is very proud to be advocating for better access for housing for the average Papua New Guinean, our new international section recognises that some lucky citizens and residents are considering property purchases overseas. As such, our new International Section features Australian and Fijian properties; the most common countries for PNG nationals and … Read more »

PNG Real Estate Market Forecast for 2015

PNG Real Estate Market Forecast for 2015

2014 saw continued prices increase in PNG real estate, causing concern among Papua New Guineans who feel that affordability is at an all-time low.
Moving into 2015, there are range of government initiatives aimed at delivering affordable housing to Papua New Guineans combined with a number of public and private sector projects which will continue to bolster PNG’s economic growth. What result will these factors have on the property market? Will … Read more »

PNG Government to Give 40,000+ Free PNG Land Titles to Ordinary Citizens!

PNG Government to Give 40,000+ Free PNG Land Titles to Ordinary Citizens!

As part of its promise to ease Papua New Guinea’s chronic land shortage the O’Neill government has announced a stunning plan to give away 2,000 free PNG land titles in every province of the country.
2014 was a positive year for potential PNG homeowners with the establishment of the First Home Ownership Loan Scheme (FHOS) to assist people to obtain a home loan at an attractive rate. Whilst the … Read more »

BSP Personal Loan to rescue this Christmas!

BSP Personal Loan to rescue this Christmas!

Well it’s come to that time of the year again where we’re all called to care and share more. As exciting as the festive season may be, it doesn’t come quite cheaply. But before you get all worked up into a frenzy about digging deeper into your pockets, Bank South Pacific (BSP) is here to save the day with its products focus of the month.
That is, the Personal Loan and … Read more »

More Affordable Housing for PNG: Squatter Settlements Targeted

More Affordable Housing for PNG: Squatter Settlements Targeted

The spread of settlements continue to be an issue for those who dwell within major cities like Port Moresby. To many, they are treated with caution and labelled as an eyesore. However, what many of us continue to overlook is the fact that settlements accommodate countless Papua New Guineans who cannot afford to rent or buy properties of their own.
One such group of people who are to this day still being compelled … Read more »

Nadzab: The Upcoming ‘Airport City’

Nadzab: The Upcoming ‘Airport City’

Papua New Guinea’s economy has been growing consecutively for ten years providing the entire country with new housing projects, roads development and better access to critical infrastructure such as power. As of today this positive trend seems likely to continue with the development of a new and much bigger international Airport at Nadzab near Lae.
The new Nadzab international airport will dramatically increase PNG’s international exposure and will effectively become … Read more »

Insurance VS Risk: Protect your Future

Insurance VS Risk: Protect  your Future

Threats that can end our dreams are all around us – but they can and should be planned for and avoided. On the night of the 24th October this year, fire ravaged the Mt Hagen trade center causing millions of Kina of damage. Lae has also seen many homes, businesses and lives destroyed by intense heat and flames – only to be reduced to ashes.
These losses are occurring countrywide and … Read more »