If you are considering PNG properties for sale, www.hausples.com.pg lists more homes, land and commercial real estate for sale than any other website!
About the PNG property market
PNG’s real estate market is unique in that that vast majority of PNG land is customarily owned (estimated to be upwards of 85%) and 80% of the countries 7 million citizens live in rural and remote areas. For this reason, the png properties for sale are generally limited to the major commercial centres of Port Moresby, Lae, Mount Hagen, Madang and Goroka.
To compound PNG’s limited supply of freehold land, the real estate market has been through a boom over the past 10 years due in large part to a range of high profile infrastructure projects such as the Exxon Mobile PNG LNG project. Whilst price rises have been excellent for investors, PNG’s housing affordability has been at an all time low and this has made it very difficult for the average Papua New Guinean to afford a house, or even a cheaper style home such as an apartment or bedsit.
Thankfully, the construction of a number of projects are coming to an end in 2014 and this has caused the property market, especially the rental market, to retract significantly from the high’s of 2012 and 2013. In addition, the PNG Government have introduced a range of new initiatives aimed at making it easier for people to purchase PNG properties for sale. One such scheme is the BSP / PNG Government’s First Home Ownership Loan Scheme which provides loans to homebuyers at a preferential interest rate of 4%.
Please visit our dedicated page for more detailed information about Port Moresby real estate and market predictions for 2015.
How Hausples.com.pg will help
The Hausples real estate portal is PNG’s No 1 real estate website, with more than 1,000 PNG properties listed for sale and rent, and this number is growing daily. Our website is free for any PNG real estate agent or property developer to list a property, and it is absolutely free for the public to use.
We aim to make it easy to search for land, homes and commercial properties for sale through a simple web-design that is mobile phone and tablet friendly. You can also save your favourite png properties for sale and create email alerts to advise you when new homes for sale are listed on Hausples.com.pg.
Finally, we are helping to make PNG’s property market more transparent by providing sold prices for PNG properties and providing an easily searchable database of available properties for sale and rent.