Australia's real estate market is dynamic and influenced by numerous factors, making it crucial to understand before investing. Major cities have high property prices, posing affordability challenges, with diverse property types and significant investor activity shaped by government policies and global economic conditions.Buying property in Australia is a substantial investment requiring thorough understanding of the process. Rules for non-residents are complex and subject to frequent changes, with penalties for rule breaches. Non-residents generally need approval from the Foreign Investment Review Board (FIRB) to purchase property, applied for through FIRB’s Online Services portal. Each property requires a separate application with fees varying based on property value, typically ranging from thousands to tens of thousands of dollars.Since 2015, non-residents can buy new residential property, established dwellings for redevelopment, or vacant land for development. A new dwelling is defined as newly built or under construction, never previously sold as a residence, and not lived in for more than 12 months if part of a development.The Australian Taxation Office (ATO) imposes an annual vacancy charge if non-resident-owned residential property remains unoccupied for over six months yearly. Non-residents must declare income by filing an Australian tax return and may incur capital gains tax upon property sale if its value appreciates.Redeveloping established dwellings must increase Australia's housing stock, with conditions including completing construction within four years of approval and providing proof of completion within 30 days. Vacant land with a previous dwelling is not considered vacant.Temporary residents, holding visas allowing over 12 months' continuous stay or awaiting permanent visa decisions, can invest in new properties with FIRB approval.Understanding these regulations and processes is essential for navigating the Australian property market successfully and compliantly.In recent years, Australian banks have become less accommodating to non-resident loan applicants, leading to a rise in non-bank lending among foreigners. Some banks have completely stopped offering mortgages to non-residents, while others have reduced their maximum loan-to-value ratio (LVR) for foreign borrowers to around 60%.The LVR is a measure used by lenders to assess borrower risk. A higher LVR indicates greater risk for the lender.For instance, if you want to purchase an $800,000 property and have saved a $160,000 deposit, you would need to borrow $640,000.This results in an LVR of 80%.Under a bank with a maximum LVR of 60% for foreigners, you would need a $320,000 deposit for the same $800,000 property.Non-residents must obtain FIRB approval before acquiring any Australian residential property. According to FIRB rules, acquiring an interest can include:Signing an unconditional contract to purchase a dwelling or share in one.Holding a security interest via a real property mortgage, even if the possessor is an Australian citizen or permanent resident.Owning an option granting the right to buy a property at a predetermined price in the future.Entering a leasehold agreement likely to exceed five years at acquisition.Increasing ownership share in a dwelling already partially owned by the foreign person.If FIRB approval is granted and the property sale doesn't proceed, the potential buyer must inform FIRB about the situation. As a foreign property buyer in Australia, follow these steps for a smooth and compliant process:Engage Professionals: Hire a solicitor/conveyancer and accountant to handle legal paperwork and tax implications.Organize Finance: Prepare a minimum 10% deposit and seek mortgage pre-approval.Meet FIRB Criteria: Ensure you qualify as a non-resident investor and budget for FIRB application fees.Property Search: Look for suitable properties, keeping in mind restrictions on certain types.Make an Offer: Negotiate the purchase price based on recent local sales data.Include FIRB Clause: Ensure the contract includes a clause making the sale subject to FIRB approval.Apply to FIRB: Submit your application promptly to avoid fines for purchasing without approval.Finalize Mortgage: Complete mortgage approval processes.Exchange Contracts: Sign and pay your deposit, subject to FIRB approval.Settlement: Upon receiving FIRB approval, finalize ownership transfer and settlement details through your conveyancer.Following these steps helps ensure compliance and a smooth acquisition process when buying property in Australia as a non-resident.

Taking out a mortgage is an important financial decision anyone will ever make. Understanding the processes involved and what you are signing up for is vital. What is a mortgage?A mortgage is a long-term loan that gives borrowers the money they need to buy or refinance a home. Mortgages offer various terms and the repayment time usually ranges from eight to 30 years. Repayments are done in monthly installments and include both interest and principal payments. As a borrower, when you sign an agreement with a lender, you give the lender the right to resell your property if you do not keep up on your repayments. How does a mortgage work?When you get a mortgage, you have a repayment term to pay off the total loan amount. Typically, most borrowers pay in monthly installments which include interest and principal. Mortgages depend on market conditions which means if they drop, borrowers might refinance replacing their existing loan with a new one. In PNG, most people rely on down payments and their eligibility for a loan to buy property. Most people use their housing advances from their superannuation savings as a down payment and borrow the remaining balance. Types of mortgagesThere are different types of mortgages and they come in various forms, according to Investopedia.  It is important to understand what works for you.Fixed-rate mortgageA fixed-rate mortgage is where the mortgage interest is the same throughout the loan term. This kind of mortgage usually attracts long-term repayment loans. In this kind of loan, you get a fixed monthly payment amount including loan balance, interest rate, and the time it would take to complete the loan. Adjustable rate mortgagesThis type of mortgage is affected by interest rate fluctuations depending on market conditions. Adjustable-rate mortgages (ARMs) offer fixed interest rates for a period before transitioning to annual adjustments. This flexibility, however, poses inherent risks. Uncertainty regarding future monthly payments complicates long-term financial planning. This uncertainty can strain affordability, emphasizing the high-risk nature of ARMs.Home equity loansHome equity loans provide homeowners with access to funds based on the value of their property, offering flexibility and lower interest rates, unlike other types of loans. Equity is the difference between the current market value of the home and the amount the homeowner still owes on the mortgage. However, there is also the risk of losing the property if the borrower defaults on payments. A home equity loan is only necessary to cover outstanding expenses. Interest-Only loansThis is a mortgage loan where the borrower only pays the interest for a specific period. After this time, the mortgage loan was adjusted back into regular payments. Although it might offer borrowers some relief, they should be prepared for the potential of higher repayments.Balloon loansA balloon loan is a type of loan that is not fully paid off over its term. Balloon loans involve borrowers making small monthly payments over a defined period, often with initial payments covering only interest, culminating in a substantial "balloon" payment at the term's conclusion. This final payment is typically larger than previous payments and is intended to pay off the remaining principal. Balloon loans are commonly associated with mortgages.These loans are suitable for short-term financing needs or situations where borrowers anticipate having substantial funds available at the end of the loan term to make the balloon payment. However, they carry significant risk because borrowers must be prepared to either make the large final payment or refinance the loan at that time. If funds are unavailable or if market conditions shift unfavorably, borrowers may encounter financial strain or default..Refinance loansRefinance loans give you the option to get a second loan to pay off your existing loan. However, this is an expensive exercise but the process helps you to pay off your existing loan. In other words, these two loans cannot be alike. For example, you cannot obtain a new fixed-rate loan to settle an existing fixed-rate loan. Instead, the new loan can be a fixed-rate option to pay off your current adjustable-rate mortgage. Getting a mortgage loanEligibility can vary with the mortgage type but most lenders look at your credit rating, income, employment and age, and the property’s value.   Based on your income and credit rating history, lenders verify your repayment capacity before approving any loan. This underscores the importance of preparing the required documents for lender review. Lenders assess your existing debts to ensure your income can support all your loans, including the new application. They determine your debt-to-income ratio, revealing what portion of your monthly income goes toward loan payments. According to Forbes, your debt to income ratio is the amount you owe in monthly debt payment compared to your income. Borrowing less reduces the lender's risk, as they can swiftly recover their investment by selling the property. A larger down payment also deepens your commitment to the property and motivates you to avoid foreclosure.The lender will tell you how much you can borrow but how much you want to get is a personal decision. Ultimately, this is a personal decision, placing you in the role of decision-maker regarding how much you wish to borrow, the type of loan you prefer, and the size of the down payment you can manage.These factors play a crucial role in determining your monthly payments and the total interest you'll pay over the loan's term. Opting for the maximum loan amount can be risky, especially if you're seeking flexibility in your monthly payments.Making a decisionTo find what suits your needs, you need to assess your financial situation. Consider your income, credit history, assets, and savings, and research different mortgage options and lenders. The bottom line is to know what is right for you.

Hausples is excited to share the results of its 8th annual PNG Residential Real Estate Survey. This report offers useful information about the Papua New Guinean housing market, looking at rental and sales trends, how people manage their money, where they get information, and what changes they want. With 8.8% more people answering, about 3,000 in total, this year's data is even stronger. Even though more people took part, the results are similar to past surveys, which makes us confident in our findings. This is the second year we've focused only on homes, after splitting the survey last year. Hausples will also do a separate survey in 2023 just about commercial property. While we don't talk only about how the pandemic affected the market, past data shows how it's recovering, and things are looking good. We thank everyone who answered and helped with the survey. We hope this report is helpful and useful for PNG's housing industry.CLICK HERE TO DOWNLOAD SURVEY REPORT

PNGs leading Real Estate portal has announced the 2024 Hausples Real Estate Expo will back on Friday and Saturday, June 28 and 29, at the renowed Sir John Guise Indoor Complex Are you looking to buy your dream home, invest in property, or stay updated on the latest real estate trends? The Hausples.com.pg Real Estate Expo 2024 is the event you can't afford to miss! Mark your calendars for the 28th and 29th of June 2024 and join us at the Sir John Guise Indoor Stadium in Port Moresby for an event that promises to be both informative and exciting.The Hausples.com.pg Real Estate Expo brings together the best in the real estate industry under one roof. Whether you're a first-time homebuyer, a seasoned investor, or a real estate professional, this expo has something for everyone. With free entry, you can explore a wide range of exhibitors showcasing the latest properties, services, and innovations in the market. Visitors will have the opportunity to connect with real estate developers, property management companies, financial institutions, and legal advisors. Gain valuable insights from industry experts through a series of seminars and workshops covering essential topics such as property investment strategies, financing options, market trends, and home buying tips.Don't miss out on exclusive promotions and discounts offered by exhibitors, giving you the chance to secure great deals on your next property purchase or investment. The Hausples.com.pg Real Estate Expo is the perfect platform to network, learn, and take the next step in your real estate journey.Join us on the 28th and 29th of June 2024 at the Sir John Guise Indoor Stadium and be part of Papua New Guinea's premier real estate event. For more information and to register, visit Hausples.com.pg. FAQ About The Hausples Real Estate Expo What are the dates and location of the Hausples.com.pg Real Estate Expo 2024?The Hausples.com.pg Real Estate Expo will take place on the 28th and 29th of June 2024 at the Sir John Guise Indoor Stadium in Port Moresby, Papua New Guinea.What are the opening hours for the event?The event will be open from 9:00 AM to 4:00 PM on both days.Is there an entry fee to attend the expo?No, entry to the Hausples.com.pg Real Estate Expo is free for all attendees.Who should attend the Hausples.com.pg Real Estate Expo?The expo is ideal for anyone interested in real estate, including homebuyers, property investors, renters, real estate professionals, and developers.What types of exhibitors will be present at the expo?Exhibitors will include real estate developers, property management companies, financial institutions, legal advisors, and other service providers related to the real estate industry.Are there any seminars or workshops during the expo?Yes, there will be a series of seminars and workshops conducted by industry experts covering various topics such as property investment, financing, market trends, and home buying tips.How can I register for the event?You can register for the Hausples.com.pg Real Estate Expo by visiting the official website Hausples.com.pg and filling out the registration form. On-site registration will also be available.Will there be any special promotions or discounts offered at the expo?Yes, many exhibitors will be offering exclusive promotions, discounts, and special deals to attendees. Be sure to visit the various booths to take advantage of these offers.We look forward to seeing you there!  REGISTER HERE FOR FREE Want to exhibit your project and become a sponsor?  In 2023, more than 10,000 people attended Hausples.com.pg events, solidifying the company's status as the leading real estate provider in Papua New Guinea. Book your place right away if you want to boost your sales and sell directly to neighbourhood investors, first-time buyers, and those seeking for property. Increase your exposure, meet all the buyers in one spot, and close the largest purchases of the year. Before all the available spots are taken, register to sponsor or exhibit at the Real Estate Expo!(These events are quickly sold out!) RESERVE BOOTH OR BECOME A SPONSOR

Hausples is pleased to present the findings of the seventh annual PNG Residential Real Estate Survey, which offers valuable insights into the residential property market in Papua New Guinea. The survey includes data on rental and sales demand, financial literacy, information sources, and desired reforms in the sector. This year, there was an 8% increase in respondents, with approximately 3,000 individuals providing feedback, which enhances the reliability and accuracy of the results. Despite this growth in participation, the data from this year’s survey remains consistent with previous years, strengthening our confidence in our analyses.Last year, we decided to split the survey, and this is the second edition solely focused on the residential property market in PNG. Hausples will also conduct a separate survey in 2023 that is entirely dedicated to the commercial real estate market, providing data and sentiment regarding commercial property in PNG.Although there are no exclusive sections in this survey discussing the impact of the pandemic on PNG’s real estate market, historical data can identify post-pandemic recovery trends, and the market continues to exhibit promising signs.We would like to extend our gratitude to the survey respondents and sponsors who have made this publication possible. We hope that you find the report informative and that the results will prove highly beneficial to the sector in PNG. CLICK HERE TO DOWNLOAD SURVEY REPORT

Following the positive response to the sixth edition of the yearly PNG Residential Real Estate Survey, Hausples is delighted to share with you the results of the 2022 PNG Commercial Real Estate Survey, the first of its kind.The survey provides valuable insights into PNG's commercial property market, focusing on both commercial property owners (who are usually also business owners) and on commercial property seekers. The objective is to define the current business landscape in PNG along with the demand and preferences for commercial properties.The first part of the survey includes responses from individuals that own or rent a commercial space to run their business, focusing specifically on commercial offices, retail, industrial, and hospitality spaces. This provides invaluable information about COVID-19’s impact on businesses, the introduction of work from home (WFH) policies, past and projected sales, staffing, and the digitisation of operations.The second part of the survey addresses the current sentiment of commercial property seekers, showcasing demand and supply distribution by property type and suburb in PNG. It also provides time frames for buying or renting and general preferences in the market.The 2022 Commercial Real Estate Survey is the first of its kind and will be followed by the 2023 Commercial Real Estate Survey which will provide a comparative analysis from this year. Any interested company or advertiser is encouraged to contact Hausples as soon as possible to secure advertising space.Hausples thanks everyone who took the time to complete the survey, and the sponsors who have made this publication possible. We hope that the findings will greatly benefit both the private and public sectors. CLICK HERE TO DOWNLOAD SURVEY REPORT

Do you own or rent commercial properties? Are you a business owner? This is your chance to have your say and contribute to the commercial real estate market! Hausples is proud to launch the first ever Commercial Survey dedicated to commercial properties in PNG.Have your say and find out the trend in the industry!Click Survey Here

Hausples.com.pg is excited to launch the first "PNG Handbook". The most comprehensive guide for travellers and frequent visitors to Papua New Guinea.The guide provides a general overview of PNG with in-depth information on major topics such as:Properties and accomodation in PNGLifestyle and cost of livingThings to do in PNGShopping centresTourism attractionsLocations overview accompanied by video guides!Visas and permitsSchools informationGyms and fitness centresClubs, nightlife and barsEmbassiesHotels and restaurantsThe guide has been distributed to major locations like embassies, hotels, restaurants and many many more and is available for download (free) on the Hausples website.DOWNLOAD 2024 PNG HANDBOOK

If you are looking for building supplies look no further. Monier is the mark of quality in PNG and is the single largest producer, supplier and distributor of construction materials in the country.Having been in operations for over 60 years, Monier's range of products include ready mix concrete, masonry, quarry products, pipes, plastic tanks and construction sand. Make an order today via this simple form: Make an order here We strive to provide quality, cost efficiency, and sustainability in all we do, and our aggregates and production techniques are no exception. Along with a complete product selection, Monier Quarry offers services including product transport delivery, technical support and specialist industry expertise.All specified quarry products are quality controlled to comply with relevant standards and codes, eg. Australian Standards (AS) for concrete and asphalt aggregates and Department of Works (DoW) specifications for roadbase materials and sealing aggregates. Monier Sands produces high quality and consistent sand for all scales of projects, this is achieved by a number of reliable natural river sand deposits in Papua New Guinea and our state of the art sand washing and screening plant. All batches undergo an extensive quality control testing regime, ensuring conforming products for every projects. Monier Sands can also customise our sand products to meet client and project specifications locally in Papua New Guinea and internationally. Engineered designs or special customer requirements can be manufactured as high quality products that can be relied on with confidence.Many of the Monier precast concrete elements are manufactured to customer’s specific engineered designs with Monier managing the process from development of shop drawings, fabrication of moulds, development of mix designs to prestressing and casting. Smaller standard precast products are held in stock allowing “off the shelf” purchases.Monier offers a range of drainage system components to provide cost effective design solutions for the management of stormwater drainage; manholes, box culverts, gully pits etc. The standard range includes all masonry products generally used in construction of residential, commercial and industrial buildings. Monier has the capability to manufacture masonry blocks and pavers with a variety of textured faces in a variety of colours. Monier produces ready-mix concrete normal (N) and special (S) grades to Australian Standards and to engineers’ and designers’ nominated specifications. Our facility offers a 120,000 square metre drycast facility and contains an innovative manufacturing space. The capability of this new facility offers pipe manufacturing diversity and flexibility that are the envy of the industry.Our product-line is made up of a comprehensive range of infrastructure concrete pipe products and is a leader with production techniques and innovation in casting and curing within PNG. Monier Water Solutions has a strong focus and dedication to innovation and quality in HDPE pipe technologies. We also offer a complete range of jointing systems including electrofusion, stub end, backing rings, mechanical compression couplings, accessories and plastic water tanks and septic tanks. In Addition to its outstanding physical characteristics, HDPE is recognized for its minimal impact on the environment. Make an order here

8-Mile is undoubtedly Port Moresby’s fastest growing suburb. The past few years have seen a new road network, including a connection to Gerehu, and new housing developments such as Kennedy, Skyview, Valkyrie, Malolo, Yorkshire, Glory Gardens and Grand Eden Estates. And with new residential estates comes the demand for commercial developments.Sunway Mall is a 9000+square foot shopping complex close to RH Mobil Service Station at 8-Mile roundabout with easy access from the many close by residential developments, as well passing traffic to and from Sogeri, the Hiritano Highway and Port Moresby North.  It is a tri-storey mall with 24 bays, built from concrete and steel, with parking, security guards, CCTV monitoring and backup water and power. The complex also has an onsite management office to ensure the smooth running of the mall.Sunway Mall is ideal for a range of businesses, including groceries, fashion and clothing, health and beauty, pharmacies, clinics and other retail outlets. Plus, it will cater for commercial offices, storage and light industry.Each bay consists of three separate levels, each one being 119 square metres in floor space, or a total of 357 sqm: Ground floorRoller door to the front and facing into the ground floor precinct.Access door to the rear to the stairwell and carparkToilet and basinIdeal for storage, light industry or retailMid level Front glass facing to the main retail precinctOffers high traffic flowFloor to ceiling glass to the front and rearBalcony to the rearToilets and basinsAlternate access via the stairwell to the rearIdeal for retail outlet or customer facing office spaceTop level 119 square metres of prime office spaceBalcony to the front with view of main retail mallBalcony to rear facing carparkToilet, basin and shower includedAccess via stairwell to the rearCan easily be converted into residential apartment       Each bay is available for rent with prices starting from just K12,000+GST per month, or K403+GST per square metre per annum, giving some of the most competitive commercial rates in the city. Sunway Mall will also consider leasing individual levels with monthly rentals starting from K4,999+GST per month Click Here for Enquiries

The Central Business District of Port Moresby is the commercial heart of Papua New Guinea, home to the Central Bank, Stock Exchange, the Internal Revenue Commission, as well as office towers, hotels, bars and restaurants. It is located on the main peninsula of Port Moresby, nestled between Touaguba Hill to the East, Paga Hill to the West and Ela Beach to the South.Port Moresby has been inhabited by the local Motu-Koitabu people for centuries, and was sighted by Captain John Moresby of the British Royal Navy in 1873. It was named after his father; Admiral of the Fleet Sir Fairfax Moresby. Now, the Central Business District, typically known as Downtown, is a bustling hive of commercial activity with major developments seen over the past few decades.It is serviced by two main roads: the Two-Mile Hill Road and the Poreperena Freeway, both of which provide access to other parts of the Capital.Being on a peninsula, it offers almost panoramic views of Fairfax Harbour, Walter Bay and the Coral Sea. Champions Parade is one of the most prominent roads in the CBD, On the left is Harbourside South under construction, and the recently completed Nobel Centre, now PNG’s tallest building.To the right is Burns Philp Haus, one of the oldest buildings that has been recently refurbished and occupied by Westpac bank. The tall building to the right is MRDC Haus, formerly Pacific Place, and immediately behind it is the Steamships Shopping Plaza.Next to Nobel Centre is Revenue Haus, home to the IRC, then Burns Haus currently under renovation, followed by Mogoru Moto Building and MMI Haus at the end.All of these buildings are occupied by commercial offices. To the right, on Hunter Street, is Defens Haus, Newcrest Haus and Monian Tower.There are several hotels in the CBD, including the Grand Papua and The Crowne Hotel. The CBD used to be home to PNG’s politics, and Parliament Haus used to sit on McGregor Street before was moved to Waigani.Behind Old Parliament Haus is the recently built Apex Apartments, Crowne Plaza and Deloitte Tower and the Port Terrace Restaurant and Bar nestled in the middle.Harbourside East and West [VT] have a wide variety of restaurants and coffee shops with some of the most spectacular harbour views, with office space above them.Paga Hill is in the background, with Credit Haus and Cuthbertson Building in the foreground. The Bank of Papua New Guinea is to the right of the screen with the BSP Town branch to the left adjoining the iconic Kina Bank Haus which is the tall building in the centre of the screen.APEC Haus and Ela Beach Tower can be seen in the background. To the North of the CBD is Fairfax Harbour, Waterfront Shopping Centre, the Yacht Club and Harbour City in the background, all parallel to the Poreporena Freeway

Papua New Guinea’s land tenure system is a challenge for landowners and developers to utilise and develop land for the benefit of the community. Sasiva Industrial Park Limited has found a lasting solution to this problem by converting well placed customary land into a state lease for the purpose of developing a state of the art industrial / business park through a strong working partnership with the traditional landowners. Sasiva Industrial Park is a seventy-six hectare development consisting of mixed zoning. The park is strategically located within a stones throw of Motukea International Wharf. With many lots earmarked for warehousing, there are also proposals to construct a supermarket, food and retail outlets, office spaces and a fuel station. The park will also include:Power, water and sewage reticulationMulti-lane sealed roadsDrainageStreet lightingFootpathsRecreational parkSecurity Location, Location, LocationSasiva Industrial Park is just 100m from Motukea’s International Wharf and less than 500m from the customs facility. The Central Business District of Port Moresby is only a 15-minute drive and the park is enroute to the AES Wharf, Puma Refinery, Exxon-Mobil PNG LNG and the proposed Total Papua LNG.  The strategic location of Sasiva Industrial Park is well positioned for future growth and over time will no doubt be a much more centralized location within Port Moresby.Stage OneIn 2021 the developer looks to complete the first stage of the project. This includes the first 1.5km of sealed roads and drainage along with street lighting, water and power reticulation, giving clients access to the first 10 hectares of serviced lots for sale. These lots will range from 5,000 to 20,000 square metres.  Anything outside of these sizes can be accommodated upon request.Located close to Napa Napa Road, this is logistically an ideal location for warehouses and light industry looking for proximity to the Wharf and proposed Customs facility. Special pricing will be given for these prime locations whilst the rest of the park is under constructionSocial ResponsibilitySasiva Industrial Park believes that health, education and adequate housing with power and water connection is important for the people of Papua New Guinea and by partnering with traditional landowners the company has invested heavily over the years to these causes.The company has set up a department that will continue to invest into the local community; giving landowners access to better education, health facilities and accommodation with clean water supply and improved sanitation, setting the standard for how developers should be partnering with the custodians of the land.Companies who choose to relocate to Sasiva will have a piece of mind knowing that they will contribute to the wellbeing of the traditional landowners and their future generations to come.

Ela Beach is a popular location with mostly upscale residential apartments with spectacular views. It’s a stone’s throw away from the Central Business District and an ideal location for those who work in the high-rise offices in Down Town Port Moresby and has easy access to hotels, restaurants, bars and social clubs.Ela Beach Road is connected to 2-Mile Hill which takes you up past Koki Fish Market, Badili and into the rest of the capital. The freeway is on the other side of the CBD, about a five minute drive, which is the main trunk road into the city.Ela beach was formerly known as Era Kone, meaning Turtle beach in the Motuan dialect of the Papuan region. The local Motu Koita people hold an annual Hiri Moala festival to celebrate the trade wind voyages that were historically held in the region Ela is the major beach front of Port Moresby with white sands that stretches approximate one kilometre It has seen several changes over the years with a new road layout built in 2017 and in 2018, Port Moresby hosted the APEC Summit and APEC Haus was built on reclaimed land at the end of the Beach. It was designed to resemble a Lakatoi sail. Several events are hosted here, including Christmas, New Year and Independence Day celebrations.Ela Beach is a popular sporting and fitness area and ideal for walking and jogging. It is adjourned with basketball and volleyball courts and is well lit into the early evenings with plenty of parking. The prime time for walking is at sunrise and sunset when it’s cooler. Past APEC Haus is the Paga Hill Ring Road, and a two kilometre walk to the other side of the peninsular.There are several long-stay residential apartments here, including Windward East and West, the Ela Vista Complex, Chesterfield and Ela Beach Apartments. There is also the iconic Ela Beach Hotel, bar and restaurant. There is a fuel station at one of the beach and a police station and church at the other. It’s generally regarded as a safe location although care should be taken in large crowds during events. Public transport is available at Ela Beach and there are taxi ranks, although for overseas visitors it is recommended to use private transport and reputable taxis. That’s it from Ela Beach; for more location profiles, please check out Hausples.com.pg

The Hausples Online Flash Sale event offering discounted properties for rent to the public for a limited period of time has received a record of over 1,000 registrations with many property seekers demanding additional stock.The event has been marketed in April as the first online event of its kind in an effort to sustain the real estate industry during the Covid-19 lockdown. In anticipation of the actual event, Hausples made properties visible to the public on Thursday 6 May - one week prior to the discounts being revealed - allowing property seekers to browse through properties and bookmark those of interest. Discounts were revealed at the start of the event on Thursday 13 May and were due to be withdrawn on Saturday 15 May; however, as a result of popular demand the Hausples Group decided to extend the offering for a further week until Wednesday 19 of May. As a result, additional registrations of interest were received for all advertisers, including real estate agencies, the Bank of South Pacific, Telikom PNG, Boroko Motors and many others.   “We are very pleased with the response received from property seekers. Considering this is the first online flash sale ever in PNG, we can safely say that it has been a successful proof of concept and we will definitely plan another event before the end of the year.” says Tom Snelling, Hausples Pty Ltd General Manager.The response by property seekers has been overwhelming and the online event has registered over 1,000 users over a one month period.  “We didn’t expect to receive such an overwhelming response and are delighted to see that people welcome online initiatives such as this one.” added Tom Snelling.Based on the data retrieved it has emerged that over 56% of property seekers were actually looking after properties for sale and were ready to buy. “We are in the process of analysing the data to improve on our next offering; however, early results show a huge demand for properties for sale in the capital city and in regional areas even from overseas investors. In the next event we will capitalise on this and will offer properties for sale at discounted prices.” concluded Snelling.With over 40 properties for rent showcased during the event, Hausples has definitely made a splash in the real estate market by supporting real estate agencies, industry related businesses and property seekers during an unprecedented time.The dates and business program of the next online event have not been released, yet Tom Snelling advised that Hausples Pty Ltd is already receiving unsolicited requests to participate and advertise in the next event and suggests advertisers get in touch for an early bird offer.If you would like to advertise your properties or business in the next event please contact the Hausples team on 7470 0243 or email [email protected]

BSP PNG| “It’s an unbelievable feeling when they hand you the keys to your house - something that you can call your own,” recalls Margaret Neme when she recently received keys to her first home made possible through BSP’s First Home Ownership Loan (FHOL).Margaret is one of over 1,000 first homeowners to purchase a home under BSP’s FHOL, a home loan product that continues to be very popular and remains an important financial objective for many.“I had a choice of preference for what my dream home would be, but I was unsure about making a big investment in my life. I thank God for seeing my family through during these unprecedented times and having made this bold move was great courage in itself.  I can now say, my family’s future is safely secured, and a place we can call our own,’ Margaret said.“Thank you to BSP for the competitive fixed interest rate, with repayments over a 40 year term, I told myself that it was worth a try. I was not too confident about my application, but giving this an attempt, I made sure, I provided all requirements for loan processing,” Margaret added and, with a few amends and adjustments to her requirements, she successfully qualified for a BSP First Home Ownership Loan.Today, she shows off her keys to her new home. “It’s an unbelievable feeling when they hand you the keys to your house – something that you call your own,” Margaret further added.As at April, 2021, BSP Financial Group Limited (BSP) has approved loans to the total value of K312 million under the BSP FHOL.BSP Group CEO Robin Fleming said while the product is a joint initiative with the government that begin in 2014, BSP has fully funded the program after the government’s liquidity support for the facility “did not eventuate years ago”. “While our FHOL remains at the fixed interest rate of 4%, the lowest offered by Commercial Banks at K400,000 maximum funding availability, our Standard Home Loan Interest rate is 5.5% for those looking at properties above K400,000.  That is not just for a number of years but the duration of loan repayment period,” Mr Fleming added.The interest in the home ownership and for affordable Home Loan Products has been relatively high since the introduction First Home Owners Loan product in 2015. The majority of loans funded are mostly in Port Moresby largely due to size of market and increased interest from housing developers.However, interests from potential homebuyers also remain high across PNG, from young professionals to long-serving employees in both the public and private sectors.In the recently published Hausples survey, results showed that 16% of respondents to the survey were employed in the public sector, who were keen to own a home.Over 70% of respondents surveyed were looking to buy their first home, and 80% of the total respondents needed a mortgage to buy a home. Customers interested in BSP’s First Home Ownership Loan can fill out the form here: https://www.hausples.com.pg/banks-finance/

From K1,800 per square metre for flexible office spaces, there's more to this 23 storey nirvana of living, working and recreation mega structure in downtown Port Moresby than meets the eye, besides bespoke building attributes such as: Best sea views;Vertical landscaping; Automatic physical sun-shading;Tenancy access controls; and,Efficiency throughoutWhether your business office needs spell an open floor plan, private, or a combination of both set ups, the cost per square metre evident throughout Noble Center’s individual office spaces is more affordable than you might think, with single offices starting from under K12,000 per month.Standing tall at a height of 95.6 meters, the Noble Center redefines downtown Port Moresby's skyline, representing a transformation of the modern workplace and confidently assuring the evolution of Papua New Guinea's present-day workforce.China Railway Engineering Group's private K550 million investment in PNG's public domain comprises a 23-storey unparalleled package of amenities, innovative retail and office designs, latest technology offerings, best-in-class sustainability practices and a prime location in the heart of downtown Port Moresby CBD.Economical energy features, such as efficient lighting and energy regenerating machines or devices and more alike, are the standard of today. This is the essence of the Noble Center, making it the marvel of downtown Port Moresby.Of course, it's one thing to insinuate a new office design out of the ordinary, and it's another to remodel an existing office space into a completely different setting. Yet, it's easily doable within the scope of Noble Centre’s flexible design requirements.Whatever your company focus may be, not every employee desires a dedicated and fixed-focus office space. Then there are those that need to operate privately if the smooth flow of operations is paramount. The Noble Center will incorporate a variety of cafeteria concepts and retailing with local and international starters, and modest prices to select.You may be a corporate heavyweight, or an upcoming commercial outfit seeking customizable office spaces that blend your evolving needs, think Noble Center.Tenants will enjoy all the amenities that come with occupying this graceful giant in the skyline of downtown, Port Moresby. As well as other additional exclusivities that are iconic, only, to this unique landmark structure - the tallest in Papua New Guinea and the pacific as a whole.The team at Noble Center are on hand to help assess and implement an ergonomically correct office setup upon request.

In light of the ongoing COVID-19 pandemic PNG’s leading proptech company, Hausples.com.pg, is innovating to help property seekers and the real estate industry via the launch of the Hausples Online Flash Sale. The Hausples Online Flash Sale will showcase the best deals on property for sale and rent across PNG, giving property hunters and owners the chance to transact quickly and easily despite the pandemic.   What is the Hausples Online Flash Sale?The Hausples Online Flash Sale is a three day online event giving property hunters the chance to secure a home for rent or sale at the lowest possible price. PNG’s leading agencies and developers will be offering hefty discounts on selected properties made available on the website: onlineflashsale.hausples.com.pgWhen is the Hausples Online Flash Sale?The event will start at 9am Thursday 13 May and will close at 5pm Saturday 15 May 2021. How do renters, buyers, landlords and owners participate in the event?Property renters and buyers must pre-register at: onlineflashsale.hausples.com.pg Registration and participation is completely free. Hausples will send important information to registered users in the lead up to the event.When will property discounts be revealed?The available properties will be revealed in the lead up to the event, giving property hunters the chance review and make a selection. However, discounts and booking will only be revealed/accepted at the commencement of the event at 9am on Thursday 13 May and bookings will close at 5pm on Saturday 15 May 2021. During this time, registered users will be able to submit a reservation for properties of interest to lock in the discounts and progress the purchasing/rental process.Are you an agency, developer or have properties you want to rent or sell?Landlords, owners, developers and real estate agencies who would like to market property during the event and secure easy and fast transactions should contact the Hausples team on 7470 0243 or email [email protected].  Are you a related business and would like to market your services? Are you a business offering services to the property industry such as finance, insurance, building, homeware or related supplier? Hausples can put your brand in front of tens of thousands of people searching for a home, contact the Hausples team on 7470 0243 or email [email protected].

There’s something unique about Bramell Street in Ela Beach, where everything is within reach; where life is a little bit different, rejuvenated and finer than before. It is a neighborhood built on vision, sound planning and manifestation of dreams.Welcome to the Ela Beach Tower, forged upon more than just a residential destination. Where life and lifestyles transcend expectations seamlessly, this 16-storey gamut of three and two bedroom luxury apartments individually cater to a new design and a new way of life, alongside remnants of high profile business offices, It’s a new era of living in Bramell Street, downtown Port Moresby.Ela Beach Tower is a testimony to Kenmore Group of Companies’ efforts to tap into the ever-evolving real estate industry, and raise the bar of luxury and convenient apartment living in an urban location.With its close proximity to popular attractions, recreational centers and a stunning waterfront location, Ela Beach Tower offers a comfortable environment on the back of joyful experiences that are in sync with the hustle and bustle of everyday life.Residents have it allFrom outstanding amenities to breathtaking balcony views, Ela Beach Tower residents have it all. Better still, these luxury apartments individually cater to the needs of their residents, while embracing a vibrant, urban lifestyle.For the corporate client - these residences tend to speak the language of a corporate style of living, welcoming you home to a whole new window of possibilities; where “old fashion” is a foreign language, and "new" and “spectacular” are the residential jargons.The 2 bedroom apartmentThe two bedroom apartment is translated into an internal duplex with ensuite, a gourmet kitchen idealized by hanging lights and modern appliances, open-plan living room, and a study that’s appreciative of the picturesque city and sea view surroundings.The 3 bedroom apartmentNothing screams well-balanced better than Ela Beach Tower's three bedroom apartment, which is accentuated by everything exhilarating, to begin with. The three bedroom apartment is a step ahead of itself in terms of an additional single bedroom with its own study - apart from the master bedroom and the other single bedroom without study - a gourmet kitchen that’s reassured with an island to give more spin on its hanging lights and modern appliances, while an unwavering command of the panoramic views from the private balcony, look on. Popular attractionsEla Beach Tower is just steps away from the iconic APEC Haus, Ela Beach, BSP Town and the Ela Beach Crafts Market Shopping Mall. Apartment amenitiesAll that’s symmetrical in each apartment configuration are the floor-to-ceiling windows, luminax flooring, spacious living room, in-door laundry, designer’-choice master bedroom, and a 24 hour security intercom in line with an integrated camera system.Whether you’re enjoying the tropical weather touring the beachfront, observing water-based activities, or brunching under the shades, this is a locality that gets locals involved in a vibrant and energized landscape.Needless to say, if sweeping views, creative imaginations, and “in a league of your own” means anything to you, then you will love the Ela Beach Tower Apartments.About Kenmore Group of CompaniesThe Kenmore Group of Companies is a sleeping giant, as it is one of the largest and most diversified groups of companies ever to be in operation in Papua New Guinea.With more than 1400 employees, 93% of which are PNG citizens, in command of a sales spectrum worth K430 million annually, this multinational mammoth is a force to be reckoned with.The Kenmore Group of Companies is a scion of a merger between the original Kenmore Group of Companies and a similar diversified group known as The Dylup Group of Companies, back in 1991.Today, the rejuvenated Kenmore Group of Companies oversees twelve distinct operations, spread across seven unique divisions found in Port Moresby, Lae, Tari, Mount Hagen and Kokopo.Kenmore's ongoing success is a testimony of sound business strategies, dedication, and manifesting a vision into reality. Kenmore Group of Companies thrive on: Quality goods and reliable customer service at competitive prices.Enjoyable work environment for employees.Healthy financial growth and stability.Adding economic value to investors' funds. For further information you can get in touch with us on [email protected], or call +67574700243.

Despite last year's pandemic riddled situations throughout, residential real estate maintained an upward trend in terms of everything from price to development, than its commercial counterpart which very much acknowledged a stagnant progress.Both sectors breathe a world of difference between them, and the pandemic, without remorse, made things even worse by widening the gap further.But in spite of all that, the start of 2021 witnessed a gradual resurgence of commercial real estate. Principally, between residential and commercial real estate, the latter has a reputation for being one of the most reliable ways of growing wealth down the line, even though some investors who were more into commercial real estate investing were challenged by COVID-19.That said, our focus should be more on what we've learnt from the pandemic in order to cement our investments in the future, than earning immediate profits.Still unsure about why you should invest in commercial real estate? Don't worry. Read on to get inspired.Why should you invest in commercial real estate in 2021?A figure of speech, yes, and worthy of a place in real estate investing. You see, there are several ways to invest in real estate.There's house flipping, buying real estate-related stocks (more common overseas), renting out properties, and then there's the BRRRR strategy - unique in itself yet not far from the steps that govern house flipping.Is there more? Most significantly, yes, one among many, and that's commercial real estate (CRE) investing.A speculative option but a promising asset class that reaps high rewards if done correctly. Commercial real estate encompasses a resume of property types which haven't been under the investment radar all this time. If this piques your interests, then read on for what you need to know about this asset class. To begin with, you need to understand what exactly qualifies as commercial real estate. Commercial real estate, in essence, is the embodiment of any property designed to be profitable.This may cover every major real estate category one might expect - office buildings, retail stores, warehouses, factories, etc., and not to mention the well-intentioned and specialized properties that ticks off hotels, club houses, cafes, even healthcare facilities and anything else along these lines. Why invest in commercial real estate?Investing in commercial real estate, if you don't know yet, is a smart move and it doesn't really matter if you have years of experience in residential properties or you've never invested a toea in real estate at all.Then comes the question 'why commercial real estate?' Well, here are eight reasons why investing in this property sector can add fuel to your real estate portfolio - if this the path you’ve chosen.1. High income potentialThe key reason why you might want to consider commercial real estate investing is its potential - meaning, for what it's worth, its potential to earn you handsome returns. Now, most often than not, in Port Moresby and PNG as a whole, many commercial buildings are synonymous with huge rents and price tags, yet these indicate a huge potential for nourishing returns on investments, too.Rather than earning just a few kina monthly on a one bedroom apartment or single-family home for that matter, why not opt for a few thousand kinas or more with a genuine commercial real estate commitment?The expanding margins could inspire a growth to your portfolio in a sprightly fashion - that's if you strategically invest all your earnings in new properties as they come in leaps and bounds.2. Less competitionAs evident as ever in PNG's current real estate climate, residential real estate is a highly competitive market with respect to housing prices, although it nearly took on a snail's pace last year. While, commercial real estate, on the other hand, took on a stagnant role.One way of determining whether it’s a good time to invest in commercial real estate or not is to observe the kina volume for commercial real estate in Papua New Guinea. If a lower percentage is evident year over year, this means commercial properties might just be easier to find - especially compared to other assets in the market.3. Endless investment opportunitiesCommercial real estate investments are irrepressible in that they entail investing in a huge shopping mall such as Range View Precinct, or a high-rise office building such as the Noble Center. But if that's too much to handle, you can still settle for small, which would entail investing in warehouses, or apartments and what have you. Flexibility is rife in terms of what you can afford to invest, and where you can invest.4. Minimal turnoverIf you're well versed in every aspect of residential real estate, you'd probably agree with this one. It's not like every apartment and single-family home operate much the same way as commercial real estate, when it comes to investing. But are worlds apart, especially when considering lease agreements. At this point, commercial real estate is susceptible to three year agreements at a minimum, than the typical one year agreement common among apartments and single-family homes.A long-term lease agreement, for the most part, results in a mild turnover (including unnecessary hassles and associated costs) and ensures the property owner receives a steady cash flow.5. More help maintaining (and improving) your propertyThe maintenance, general upkeep and general updates to commercial properties is not something that you, as the owner, will have to do on your own, due to the fact that there's more than one net lease at work here. What this means is that the majority of the property's expenses such as tax, insurance, maintenance costs and even utilities, will be shouldered by your tenants. Normally, the landlord is responsible for these expenses, but who helps make it possible? Yes, the tenant.On that note, you will be privileged to have tenants who are vested in giving the best of their ability to keep the property in shape, than what's commonly standard in residential real estate.This means regular upkeep and leads to an increase in your property's value, overall. It's like a series of positives where one thing leads to another… 6. Less problematic tenantsThis reason calls to mind a residential property's tenants’ behaviour towards paying rents and leaving day: 'are they paying on time?', or 'will they be moving out soon leaving the place in total disarray?' and a host of others like regular tenant disputes and renter complaints.If this sounds familiar, then investing in commercial real estate is the best way forward, because here things are a bit more professional and ordered.Since you're hosting business tenants- those who have a reputation to protect and money on the line - rest assured that maintaining a good rapport with the landlord and following codes of conduct in ensuring the property is in good shape at all times will be at the top of their minds. In turn unnecessary hassles are kept to a minimum.7. Multiple portfolios If you're knee deep in residential real estate, then know this: commercial real estate can be the next best thing in diversifying your real estate portfolio.Since 2020 has taught us that the future is always uncertain, and anything can happen to us in the next minute, hour or day, we should learn from the lessons it brought and strategize towards strengthening our investment goals, and what better way to begin then to spread your investments beyond different assets. 8. Complete proofEventually, commercial real estate, in effect, is a worthwhile investment as we've seen so far.And if that's not enough, a multi-billionaire like Warren Buffet, for instance, has made heaps of fortune in commercial real estate alone, and he’s still doing so.Now that you know what to expect when it comes to investing in commercial real estate, let it not exist as an idle dream, but a work in progress.Final thoughtsRome wasn't built in a day, likewise wealth isn't built overnight. If you want to reach the top, there are endless possibilities as well as failures you have to pass through before you see the light at the end of the tunnel.In real estate, investing in residential properties is half the story. With commercial real estate investing to dip your fingers in is entirely a different story - better yet, the most reliable, efficient and effective way of building wealth.DisclaimerThis article is meant for informational purposes only. Hausples digs into the details of a specific topic and teaches its readers all about how the real estate industry operates. Therefore, not all articles are intended to be construed as financial, or investment advice. Hausples encourages you to reach out for professional help regarding your own real estate situation.

Hausples brings to you PNG’s first-of-its-kind home and land package at the new Valkyrie Estate in 8 Mile Suburb, outside Port Moresby. The custom-homes designed Valkyrie Estate, which has recently generated huge interest in just a few weeks, comprises 24 plots of three and two bedroom single-family homes with land from K480,000. For what it’s worth, the estate seemingly is a stepping stone towards addressing the demand for affordable housing in the nation’s capital, making it a truly monumental project ever to be idealized into certainty by some of the big names in real estate and property development projects such as the likes of Century 21 and Rhodes PNG, in partnership with Hausples Limited.The partnership marks a significant turning point in Papua New Guinea’s real estate sector, as it ignites a truly world class affordable living from start to finish.Mainly situated in the fast-becoming popular 8 Mile suburb, Valkyrie Estate sits adjacent to Kennedy Estate, and is in close proximity to shopping centers, schools and medical facilities whilst easily accessible from the city. Unlike traditional housing developments that acknowledge turnkey house and land packages on the market for a full market value, Valkyrie Estate comprise plots of serviced land sold through Century 21. There are two stages of this project development, where stage one began as two plot sizes, 380 sqm and 450sqm, available among twenty-four plots in total. Each plot is connected to a sealed road with power, water and sewage works ready to be linked.Rhodes PNG, the country’s leading prefabricated house manufacturer, who can provide a range of affordable homes to suit the buyers needs will supply and oversee the construction of these unique quality custom-build homes. Built on light steel frames with modern materials, Rhodes houses are synonymous with international standards, well-insulated and termite-proof and are impervious to harsh weather conditions. Century 21, one of PNG's most revered property management service providers within the bounds of PNG's commercial and residential real estate, on the other hand, will monitor land sales. To register your interest, this is how it works:Visit the Valkyrie Estate websiteChoose the plot of land that best suits your needs. Phase One of the project offers two sizes: 396 m² and 450 m².Choose the house that best suits your family. It can be high-set or low-set, and there are 2-bed, 3-bed and 3-bed with ensuite available. If you need something larger or bespoke then this can be catered for as well.The friendly team at Hausples will contact you to discuss your options and confirm the price. If the price falls out of your budget then alternate options can be considered. The Hausples team can also direct you towards financial assistance, insurance options and add-ons such as gas installations and back-up power and water.Once all of your requirements have been established, your details will be passed onto experts in each area: land purchase, house purchase, building, finance etc. Hausples will work closely with you to ensure that the process is smooth and answer any questions that you may have.For more information and to arrange a viewing of this unique estate, visit www.valkyrie.estate