Advice

The perks of living at Rainbow Heights
The perks of living at Rainbow Heights
June 15, 2022, 1:59 a.m.
Advice
Housing Projects
Pictured above Rainbow Heights systematically laid out streets. Expanding your network in order to further your career is made easier if you are located close to the headquarters of as many organizations as possible.This makes downtown Port Moresby one of the most sought after work locations in Papua New Guinea especially for those that are in their early 20s to mid 40s. This age group is also most likely to be in the process of searching, purchasing and establishing their own family home. This process is another challenge when one is in the nation's capital, where there are many options, many prices and some risks.Currently the trend being witnessed in Pom City is a steady decrease in rental prices and an increase at the same rate in purchase prices. If the same trend continues then a perfect time to purchase and make a sound investment in property is right now! There is a huge variety of house types, compounds, developments and land for sale in Port Moresby but one has to be careful when choosing to spend hard earned money. You don’t want to spend on a property that will deteriorate fast, that has many plumbing and electrical issues - this will only result in making a larger hole in your bank account with a new repair job every month or so. You also don’t want to be purchasing a property only to have to worry about the safety of your property, other assests and the occupants. If you want a house in a safe, reliable, easy to access location, that has back up water and electricity and with security provided; then Rainbow Heights Bungalows will be perfect for you!Pictured above Rainbow HeightsRainbow Heights Bungalows are located along the recently sealed Sivari Road in the newest part of Gerehu. This road makes downtown Port Moresby and the CBD an easy 10 minute daily commute via Baruni Road. There are a number of churches, a radio station, three commercial complexes and several businesses located along this stretch of road creating a network of security stops that were not there five years ago.Pictured above Rainbow Heights showing back up water and electrcity.The gated compound has 43 elegant, two storey, four bedroom houses. The houses have 725 sqm yards, providing adequate space for kids to play or for those hard to avoid family gatherings, offer three bathrooms including an ensuite in the master bedroom. The backup electricity and water, 24/7 security, a reinforced fence and security lights that keep the streets well lit make the K1,200,000  Rainbow Heights properties an attractive price for an extremely attractive location to put down roots and raise a family.If you would like to see other residential property for sale within Gerehu click Here or if you would like to see what property is available for sale in PNG click Here. For a monthly newsletter subscription to find other attractive investment opportunities you can click Here or you can email [email protected]
Koki Bay City
Investment opportunities in Papua New Guinea at Koki Bay City
June 16, 2022, 5:28 a.m.
News
Advice
Finding a sound investment opportunity can be like finding a needle in a haystack, especially if you have only a vague idea of where the haystack is located; of course if one had a magnet, this would solve the problem in mere seconds.Today let Hausples be that magnet for you. There is an investment opportunity that would be perfect for you that is looking to set up your business’s office, showroom or retail outlet in a strategic area in Papua New Guinea. This area always has a ridiculous amount of foot traffic, is less than 5 minutes drive from the capital city's CBD, is also five minutes drive from ALL the commercial banks that operate in PNG and this investment property is located on the shoulder of an arterial road making suburb hopping a piece of cake.Koki has always been a bustling area in Port Moresby. Since the early 70s it has had a busy waterfront with locals and expatriates congregating the area because of the quality vegetable, fruit and seafood market. Today Koki boasts Port Moresby’s only seafood and fish market, an outlet of PNG’s most popular chicken and chips chain, several government and non-governmental organizations offices, service stations, banks, a police station and many monuments that add an aesthetic allure to the seaside drive. Koki is also a major shopping hub because it provides a last shop-stop in town for many Motuan villagers. Pictured above is Port Moresby's only fresh seafood market Koki Fish Market | Source: JolygramWhich brings us to Koki Bay City. Port Moresby’s latest investment opportunity. Pictured below is the property with units that are up for rent at K20,000+GST per month (AUD$6,918.00)  or purchase for K2,250,000 (AUD$778,275.00). Koki Bay City is in an ideal location along the Hubert Murray Highway which flows into the Poreporena Freeway making it easy for one to get in and out to another suburb in minutes. There is extensive security, with 24 hours security services provided along with security windows and the compound is securely fenced. The 300sqm units are split over two levels, they come equipped with their own kitchen and bathroom facilities including steady air conditioning. The Koki Bay City compound provides ample and secure parking for tenants and customers alike and of course to ensure the smooth flow of business, back up electricity and water is provided. Koki Bay City - ideal location, ideal set up and perfect investment opportunity.If you would like to more information on Koki Bay City or other investment opportunities in PNG, you can Subscribe to our monthly newsletter or you can email [email protected] If you would like to see what properties there are for residential purposes in this same area you can click Here.
An explanation of the residential property types in PNG
An explanation of the residential property types in PNG
June 16, 2022, 5:30 a.m.
Advice
Housing Projects
Solwara ApartmentsApartment, flat, condo, bungalow, townhouse, duplex, bedsitter, serviced apartment, terrace, compound, gated community - there are many terms and classifications for property types worldwide. Many times you hear people describing their home using one of those phrases. The term a person uses to describe a particular property varies, most times this depends on where they are originally from. While this can be made clear during a conversation the same cannot be said if one is searching for a particular type of property or listing their property online.We will try to make this less confusing for you that is searching for a property in Papua New Guinea (PNG). Hausples.com.pg offers over 3,000 listings that you can filter and search; for a particular property type, in a particular location and with a particular budget.On Hausples, we have categorized real estate into two main types: Residential and Commercial.Industrial and land for commercial purposes are included in the commercial property types along with offices, retail, warehouses and hotel or tourism. In PNG most commercial properties come with back electricity, water and security. You can have a look at the 1200+ commercial properties we have available by clicking Here.Residential Property TypesWe have 7 residential types of property that we will explain in greater detail. Residential property types seem to raise more questions especially for expatriates looking for investment or short and long term stay options. Most property whether residential or commercial offer security services with back up water and electricity.1. Bedsit or roomA bedsit or a room is self explanatory. It is a room that can either be self contained or have shared bathroom and kitchen facilities. In PNG most bedsitters or rooms are available either as part of a house or as part of a building. If the room is available in a building the landlord most likely will restrict to either female only or male only occupants with high security provided if it’s a female only building. Previously most single rooms or bedsitters were made for the low end market but recently more single room type accomodation for the high end market have been created, these offer attractive, fully furnished with all gadgets that a modern home would desire (aircon, dishwasher, flatscreen, microwave, dryer, washing machine etc), secure rooms for expatriates who are on short term contracts here in PNG. Rental prices of rooms/bedsitters range from K190 (AUD$)to K16,500 ( (AUD$5,661.15). You can click Here to see the rooms available in PNG.2. ApartmentThe Americans call them ‘apartments’, the British call them ‘flats’ and Australians call them ‘units’. A subdivision of a bigger building, something that is self contained and has its own bathroom, kitchen and two or more rooms and all on one floor, is what we classify as an apartment here in PNG. Apartments are the most popular property type for expatriate rental in PNG because of the convenience and security they provide. Prices depend on location and rental prices range from K550 (AUD$188.71) to K10,000 (AUD$3431.00) per week. Most apartments in PNG come with security and backup water and electricity. Click Here to see the range of apartments available in PNG.Inside an apartment at Downtown Port Moresby | Source: Hausples3. Serviced apartmentNow ‘serviced apartment’ are apartments that cater for the higher end market and usually have one or all of the following services offered as well: fully furnished, all white, brown goods provided, security alarms, access to maintenance services (electrician, plumber, etc), access to a pool, gym and/or other recreational facilities, airport shuttles, access to wifi. Rental prices of serviced apartments range from K1,600 (AUD$548.96) to  K15,000 (AUD$5,146.50) per week. There are many serviced apartments on offer in various locations, to see the range of serviced apartments available on Hausples.com.pg you can click Here.Windward East Apartments | Source: Hausples4. TownhouseA townhouse is one property type that causes some confusion. What Americans, Australians and Papua New Guineans call a townhouse is what the British call a terrace. Townhouses are usually houses with more one floor,  that offer the privacy of their own front and back yard, are built next to each other and may share common facilities like a pool and recreational facilities. Townhouses in PNG also offer security, backup water and power and may also offer services as with serviced apartments. Rental prices range from K1,300 (AUD$446.03) to K10,000 per week (AUD$3431.00), to see the range available you can click Here.Townhouse at Gordons Port Moresby | Source: Hausples5. DuplexSo what is the difference between a townhouse and a duplex you may ask? A duplex has commonly only two units attached to each other, that offer the privacy of a front and back yard, some may offer shared facilities like a pool. In PNG duplexes also offer security and may offer back up water and power. Rental prices range from k600 (AUD$205.86) to K6000 (AUD$2058.60) Click Here to see what duplexes are available on Hausples.Duplex at Port Moresby | Source: Hausples6. HouseThere are many house types in PNG but the most common houses are built on high stilts with a large verandah, are fenced and commonly have three bedrooms including one with an ensuite bathroom, two parking spaces, car parking space for two vehicles is usually under the house. A typical PNG style house is shown below. You can click Here to see the houses available for rent, with prices range from K650 (AUD$223) to K6,500 (AUD$2,230.15) per week.LandWe have mentioned land in both residential and commercial categories however to rent or purchase land there are various steps that one must to take diligently in order to mitigate legal and in extreme cases security issues. Land is an extremely sensitive topic to Papua New Guineans and there are currently several court cases that could have been avoided if advice had been given correctly. You can click Here to read an article explaining Land Titles in PNG. You can also  get information from various agencies and we have a range of agencies available which you can click Here to get contact details to discuss land purchase or rental. Prices vary greatly and you can be looking at prices as low as K1 for 1M² to K100 per 1M² .  If you are looking to purchase land in PNG you can click Here. If you would like to receive updates on residential or commercial property types available in PNG, or if you would like to find out other real estate relevant information including land purchasing and land titles information you can Subscribe to our newsletter or email [email protected]
Property
What is property valuation and why is it important?
June 16, 2022, 5:31 a.m.
Advice
News
The Papua New Guinea real estate industry is currently experiencing exponential growth, there are developments being completed every month throughout the country. The 2015 Pacific Games, along with the building stage of the Liquified Natural Gas Project and this years hosting the Asia Pacific Economic Cooperation meetings have helped to drive this growth. It doesn’t matter if you’re in the Highlands or the Niugini Islands, the Momase or the Southern region - everywhere you go, there are new building complexes, new residential developments, new hotels, airports and roads are being constructed in every region.This is an opportune time to invest in real estate. Whether you are in the process of selling, or renting out your property, it is vital to have an understanding of the value of your property in order to get it priced correctly for the market. A property that is overpriced will take a long time to sell and in the real estate world the first month is the most vital for getting your property sold, there are scenarios where a property is priced too high in the beginning and the owner ends up selling for less than the true value of the property. This why it is vital to get your property valued accurately and by the correct people. Below is brief description of what and who is involved in the valuation process.What is property valuation?Property valuation is basically a rough calculation of how much a property will sell for (this is called capital value) or can be rented out for (this is called market value) at a given time. This value also may include land and/or buildings in that given location.A number of factors influence this calculation like: location of the property, materials used, how old the property is (the wear and tear), the size and layout of the rooms and any added features of the property can add or subtract from the value of a property. At the time of valuation it is also important to remember that trivial things like how tidy your property is can also affect the value. If you are thinking of having your property valued it is advisable to tidy it up and make everything from the yard, the rooms, everything should look the best it can.What is involved in property valuation?The Valuations ActIn Papua New Guinea the Valuations Act (Chapter 327) governs all the processes and persons involved in valuations. The Office of the Valuer GeneralAlong Waigani Drive, in Eda Tano Haus, is the Department of Lands and Physical Planning and which has a division called the Office of the Valuer General. This division oversees all valuations, registration of valuers, payments to register valuations, land taxes and conflicts to do with valuations. Source: ETS ArchitectsThe Valuation RollThe valuation roll is a legal document that consists of property information of all rateable properties within the boundaries of a local level government in PNG. This roll is meant to be updated every 5 years in order for city authorities to be able to update land taxes, to plan future tariffs and provide access to sanitation and safe water.Registered ValuersIn order to get your property valued accurately and have that value recognized by all institutions you must make certain you get your property valued by a certified valuer. Many real estate agencies on Hausples.com are able to provide a registered valuer, you can click Here to see a full list. Financial institutions also conduct valuations and there are professional valuation agents in the country.What is the process involved for property valuation?For example Elaine would like to sell her house which comes with the land that it is built upon, so she requests for her property to be valued. This is classified as a private valuation.Elaine makes a deposit of the valuation fee as discussed and agreed upon with the agent or agency that she is engaging to value her property.The valuer inspects her property.The valuer checks sales data collections, combines it with market research and provides an analysis.The valuer makes a compilation of a valuation certificate and a report, altogether providing a document that at most times is from 4 to 10 pages long. It is printed, bound and signed.How long does it take to get a valuation done?Depending on the data available, the size of the property and if all necessary paperwork is available the valuation can take from a working week up to two working weeks.What is the cost of a valuation?The fees will depend on who is conducting the valuation and the scale of the project. It also must be noted that cost of valuation is always proportionate to the value of the property. The larger and more expensive the property, the greater the cost of the valuation will be. You should make it your business to request for a proposal with a description of services to be provided and the estimate costs involved. To enlist the services of the Office of the Valuer General the costs are as below.Why should I get my property valued?There are four main purposes for an accurate and registered valuation:When you want to sell property to be able to set your price so that it is competitive with current market prices and not too high or too low.When you want to purchase property you will require a valuation in order for you to make an informed decision and also for your bank to make a decision on a loan if you are requesting for one to purchase.When you want to use your property as equity to get a large loan for other purposes.When you want to get your property insured, the insurance firm will want to know the value of your property from a certified valuer.In other finance and accounting circumstances where you will need to have a complete value of everything you own it is also adivsable to get a property valuation.If you would like more information on valuations, land titles and property for rent or sale throughout Papua New Guinea, subscribe to our weekly newsletter Here or you can email [email protected]
Home Insurance
Protect your home: Get home insurance
June 16, 2022, 5:32 a.m.
Home Loans & Insurance
Advice
Esther and Thomas were excited, this was the day that they had been saving up for years! Their three children were laughing loudly, overjoyed at the thought of having their own rooms at last! Yesterday the family had been given the keys to their new home, today they would be moving their belongings from the 2 bedroom flat they’d been renting for the last 8 years into their new 4 bedroom house.They had taken out a large loan with a bank and the home was mortgaged to them for many years and insurance was taken out in conjunction with the loan.Esther would finally have her dream kitchen. The electric stove with the 6 hotplates and fan oven, a fridge and her prized washing machine. Her husband Thomas was just as excited about the expansion of his communications business. The space downstairs next to the laundry had been lovingly converted into a studio; with a mixer and a computer equipped with all that he’d need for audio, video and image editing.Source: Hausples.com.pgThe family eagerly carried, heaved, dragged and pushed their belongings into their dream home - the beginning of happy times in their new home.Or at least it was meant to be. You see Esther and Thomas had NOT anticipated a fire would hit just months after moving into their new home! Esther and Thomas looked helplessly on, not only was their house badly damaged but Thomas’s business prospects had been cut short by the fire.Does this situation sound familiar? Do not get caught up in a mountain of debt without having a safety net.  For many of us being prepared and protected means having the right equipment, the right contacts and knowing the correct ways. BUT there is one fundamental method of preparation and protection that many of us often overlook. The best preparation and protection we can have is ‘insurance’.InsuranceMany people do not understand the world of insurance. So what is insurance? To put it simply it is an arrangement that an insurance company makes with you that will compensate for a specific loss or damage covered by your policy, to your home and belongings in return for payment of a premium at a specified time. To best protect your home however, what you need is home insurance.Source: Trans Pacific Assurance LimitedWhat is home Insurance?It can be best described as the insurance policy that can assist with the replacement of your contents or repair of damage to your home. Home insurance policies insure the home itself along with the contents of your home.Esther and Thomas in our story have taken home insurance covering the contents they could have Thomas’s studio equipment and their other belongings covered and have the damage caused by the fire repaired. How to go about getting home insurance?In Papua New Guinea, Trans Pacific Assurance Limited (TPAL) has a variety of products that can be tailored to suit your needs. TPAL boasts an excellent response time, typically responding to queries and applications well within a working day.To apply for home insurance there are three main requirements:1.An accurately and fully completed Proposal Form.2.A Valuation Report from a financial institution of your choice3.Photographs depicting the property accurately if you are outside of Port Moresby, if you are in Port Moresby TPAL will send a representative to inspect your property.Once you have these requirements you can either email, or mail, or send via facsimile a copy.What happens?After you agree on a policy and have completed all the necessary paperwork and paid the premium, your home and contents are now insured. For example in the event that a fire damages your home the first thing you must do is contact Trans Pacific Assurance Limited and report what damage has happened. If you are able to take pictures or a video that will be very helpful. Make sure you accurately complete the claim  form with all of the information about the damage that has been caused it is that simple! After you file your claim, a representative from TPAL will be there to make an assessment. After an assessment has been made then repairs can then commence to your home.What are the other benefits of home insurance?Contents - whatever you have inside your home you need to get them insured to ensure that you have the items protected. For example Esther has taken out home insurance, her dream kitchen will be repaired.For property owners who intend to rent out their property it is wise to enquire about the many options available for you. There is a burglary cover so if your property gets broken into you can get your belongings replaced. There is a fire cover a will assist you if your property gets damaged as a result of these events.It can seem very large task, but once you begin making enquiries you will be pleasantly surprised at how simple it really is. Be like Esther and Thomas and invest your hard earned money not only in making your dream home a reality but ensure to have protection in place to cover such an event. Make sure that you contact Trans Pacific Assurance Limited on +675 321 6808.You can also click Here if you wish to send an email to get the protection in place to cover your dream home.  For more information you can Subscribe to our Newsletter to receive news and updates about new developments, land titles news, insurance information, real estate & housing demand trends and other information for developers or home buyers.
Boroko
8 Reasons why Boroko is so great to live at
June 16, 2022, 5:32 a.m.
Advice
News
It is not easy to find ideal locations to rent or buy anywhere worldwide. If you are looking in the National Capital District you may find it overwhelming with all the choice; so many price tags, wantoks and of course the road conditions you have to consider when searching for a place. We all want our abodes to be: affordable, accessible, versatile, secure and have aesthetic appeal but aside from your own yard and house, one should always carefully consider the suburb and indeed the neighborhood before you even begin your search.According to the 2018 PNG Real Estate Survey, most of you think that Boroko and Waigani have attractive neighbourhoods because the majority voted these two suburbs as the most sought after to live in. Today we explore reasons why Boroko is such a cool suburb to search for your home in.1.The happenings happen in BorokoFrom the map you can already work out reason 1 for choosing Boroko. There is quick access to many sporting and recreational facilities, fact is that the National Football Stadium, the Rita Flynn Netball Centre and Bisini Parade Grounds are all located along the same road and are an easy five to ten minute walk of each other. Many national and international events are hosted along this stretch of road.2. AffordableAffordability is relative to your income. What you find affordable may be extremely expensive to someone else and this is one of the best things about Boroko! There is a price tag that is just right for everyone! You can find apartments as low as K800 a week to serviced townhouses at K4,000 a week.3. AccessibleWhen we talk about accessibility we mean access to conveniences, access to other suburbs and also the actual driving conditions streets. Boroko can be described as the center of Pom City. From Boroko you have easy access to other suburbs, one of Pom City’s main public bus stops is here, so getting to and from work or school is easier. Boroko offers a police station, a fire station, a post office, two banks, a craft market, many grocery stores; service stations; pharmacies and other health services; beauty parlours; schools and an assortment of churches. Overall the condition of the roads and the general security reputation of the suburb make it one of the most choice in the nation’s capital. 4.VersatileBoroko is the most versatile suburbs, you can be living just a street away from your place of work and perhaps a block away from your soccer or netball club’s training ground with the grocery store two blocks away. You will find large four bedrooms houses to bedsitters, you will find daycares, primary schools, high schools and tertiary institutions in Boroko. Various faiths are located in this neighbourhood and there are just as many clubs and betting shops. Residential and commercial property, industrial and sporting facilities - Boroko has more packed in this little suburb compared to any other in the nation’s capital.5.SecureSecurity is one factor that many Papua New Guineans consider seriously when deciding where to live, this is one reason why many people prefer this suburb to live in. Considering the human traffic and the ‘thousands pulling’ events that happen in Boroko, it is a pretty quiet neighbourhood to live in. The police station located in this suburb also help with maintaining the law and order in this suburb.6. Aesthetic appealBoroko is built on what used to be swampland in the 1930s, this means that it is a pretty level suburb and makes for good gardens if you have the time. Boroko is surrounded by rolling hills, many streets are lined by white frangipani and orange ixora plants that remind you - in case you forget that you are in heart of the tropics.7.The freshest, organic food at affordable pricesBoroko has one of Pom City’s three functioning fresh food markets located in it. Boroko market is located opposite the National Football Stadium with a huge variety of fresh fruit, vegetables, poultry and at times depending on the seas you can find some seafood here. Everything sold here is organically grown, by buying here you are supporting the local SME sector and the bonus is you will find prices are cheaper than supermarkets.Boroko Market |Source: Loop PNG8.The best 'Kalsa' spotFrom early June to late September various provincial days or ‘kalsa days’; and pre-independence celebrations happen weekly in Pom City. No other province sees as colourful or as dedicated a show of cultural pride as NCD, where the cooking pot has at least one of all the 800 cultural ingredients in it. During this period people living in other suburbs have to either send word to back home for someone to bring an item or two for ‘bilas’ or go searching from market to market for their ‘bilas’. Boroko residents however can relax and take a casual stroll down to the craft market that happens every Monday to Saturday, from 9am until 4pm.These factors make Boroko one of two of the most sought after suburbs to live in Port Moresby. If you would like to see what is available for sale or rent in Boroko you can click Here. Remember you can refine your search to Buy or Rent, you can define the Property Type your are looking for and you can search for a particular price range by clicking and entering the relevant data on the tabs.For more information you can Subscribe to our Newsletter to receive news and updates about new developments, land titles news, insurance information, real estate & housing demand trends and other information for developers or home buyers.*bilas = traditional decoration or attire depending on the context you use the word*kalsa = culture
Airways Residences Pom City
The ultimate guide for expat rentals: Pom city's hot picks
June 16, 2022, 5:32 a.m.
News
Advice
Source: OnePNGMany expatriates move to Papua New Guinea (PNG) with only a vague idea that it is someplace north of Australia. That’s about it. Nevermind where Port Moresby is. It is only natural then, to ask people that have worked in PNG and ask google about the country.Most of what you come across will range from tourist type reviews to notorious stories of holds up and theft. It is wise to be cautious and follow your embassy, high commission and employer's security advise but you should not let that scare you into not accepting the offer to move to PNG. The majority of expats that move here are pleasantly surprised at the amazingly unique experiences that they've had.A little about Pom CityMost of PNG’s non-national residents are posted to work in the National Capital District (NCD) the capital of PNG. Port Moresby is the ONLY district in the nation’s capital, to locals it is known simply as Pom City. It’s a city that has seen a rapid growth in short span of time. Less than five years ago there was a clear demarcation of state and customary land boundaries; of business districts, industrial areas and residential areas. The city has grown so much that these boundaries are blurred and thousands are now living in what used to be the outskirts of Pom city. Several high impact projects like the Liquified Natural Gas (PNG-LNG) project, the 2015 Pacific Games and the APEC meetings which PNG is hosting this year have been catalysts of this rapid growth in infrastructure.Suburbs in Pom CityExcluding subdivisions of suburbs (eg. Hohola 1 - 4), the nation’s capital has 28 suburbs: Downtown/Port Moresby, Kone, Badili, Koki, Taurama, Gabutu, 2 mile, 3 mile, Korobosea, Manu, Boroko, East Boroko, 4 mile, 5 mile, Gordons, Gordons 5, Hohola (1- 4), Tokarara, 6 mile, 7 mile, 8 mile, 9 mile, Gerehu (1 - 7), Waigani, Ensisi Valley, Waigani Heights, Erima, Morata. Many local and international developers and financial institutions have invested in building residential properties over the last 10 years creating a significant increase in availability of residential properties at the same time a drop in rental prices - a welcome situation currently being experienced in the city.Recommended apartments and suburbsThere are a variety of properties available from condominiums to townhouses, detached houses to apartments in all these suburbs. There are certain suburbs that are preferred by the expat community because of the higher security rating, the surrounding community and proximity to general conveniences and social hubs. If your organization has not already taken care of your accommodation - here are four suburbs and six apartment buildings that we recommend based on the surrounding environment and community, security and proximity to amenities and certain landmarks or features.The transition to a new environment can be made more enjoyable if there is less for you to organize while acclimatizing, unpacking and familiarizing yourself with a new country. This is why an apartment within a secure, fully serviced compound is the easiest option for a new comer. The following apartments offer a variety of features including pool areas, entertainment areas, gyms and access to maintenance services from professional electricians, carpenters, plumbers, gardeners, pest control providers and waste removers.Airways ResidencesLocated at 7 mile along Jacksons Parade, Airways is a great place to go home and simply forget the hustle and bustle of your work world. Within this secure and tastefully landscaped environment, is a park with a playground, a pool, a gym, tennis courts, 5 world class restaurants, a massage and beauty parlour, Westpac Bank with an ATM, a pharmacy and a well-stocked convenience store. The beautiful thing is that you have everything you need and more within walking distance. Click here for more information.Chesterfield ApartmentsChesterfield Apartments are located on Chester Street downtown. They boast breathtaking views of Walter Bay’s sparkling turquoise waters, a lush tropical pool and outdoor spa and a barbeque area equipped with a bar. These apartments are five minutes drive from the CBD. Click Here for more information.Era Matana ApartmentsOne of the newest properties to be built in the city, Era Matana is another amazing place to set up in a new country. It is within a 5 minute drive from the town CBD and has truly breathtaking views of both Fairfax Harbour and Walter Bay and some of this you can take in while you are working out! The aesthetics are out of this world and would definitely lessen the stress of moving countries. Click Here for more information.Sol Wara ApartmentsThe Sol Wara Apartments are located on the waterfront of Konedobu. The apartments are located in one of the most convenient corners of Pom City with the Yacht Club practically next door and the two largest supermarkets less than five minutes drive away. You are afforded a view of Fairfax Harbour and because of its location just off the Poreporena Freeway this makes working and school drop offs in other suburbs less of a hassle. For more information click here.Ela Vista ApartmentsEla Vista Apartments can offer the perfect sea breeze and relaxing view of Walter Bay. Tropical plants arranged thoughtfully along terraces, ample parking space, a gym with a view and all this located on peaceful Chester Street. If swimming is your thing Ela Vista's lap pool offers a swim with a awe inspiring view. Click Here for more information.Windward ApartmentsThe Windward Apartments provide quick access to the Poreporena Freeway if you need to get to other suburbs, the beachfront and the CBD. Windward also boasts a gym, tennis courts, a barbaque area and is practically next door with a less than 5 minute drive from the newly constructed APEC Haus. Click Here for more information. TownDowntown Port Moresby or simply Town is the most preferred suburb because of its captivating view of the resplendent sea overlooking both Fairfax Harbour and Walter Bay, the whispering sea breeze and the proximity to Pom’s prime social clubs (Yacht Club and the Aviat Club), all within a 10 minute driving radius. In minutes you can get from the social clubs to the Crowne Plaza and Grand Papua Hotels. In the same amount of time you can get to the shopping centres, Waterfront Boroko Foodworld and Stop N shop Harbour city. A five minute walk up the street, will bring you to ANZ, Westpac, BSP and Kina Bank branches.Rentals within this area begin at K1,800 per week (appx AUD$600), there are many apartments and duplexes in fully serviced gated communities to choose from. Click Here to see more property available for rent in Town.BorokoBoroko is one of the two most sought after suburbs to live in according to respondents in the 2018 PNG Real Estate Survey. Boroko used to be one of the busiest commercial hubs in the late 80s and had many shopping centres who’ve since left leaving a number of vacant spaces. Boroko is a largely residential area with more than 10 schools, the three international high schools are located at East Boroko a suburb of its own now but which used to be a part of Boroko.  Boroko Market offers a great variety of fresh, organic local produce at cheap prices but it’s best to go with a local guide the first couple of times you go. The is across the road from the National Football Stadium, Rita Flynn Netball Courts, the Cricket grounds, the country’s central sports arena is located within Boroko.Rentals within this area begin at K700 per week (appx AUD$240). Click Here to see more property available for rent in Boroko.WaiganiThe second most livable suburb is Waigani or as locals know it Wagga. Waigani is known as the seat of the government as it hosts almost all government institutions. The National Parliament, National Museum, Port Moresby National Arts Theatre, National Library, the National Archives building and the Supreme Court of PNG are all in Waigani. Port Moresby’s only golf course is located in this suburb just 10 minutes drive from the Sir John Guise Stadium and the country’s only mega mall, Vision City. PNG’s 2 movie cinemas are also located in this suburb. The UN Building which will host all UN agencies and the World Bank will be also within this suburb once construction is complete. Three are the Stop N Shop chain of shops (Waigani North and Waigani Central), Jack’s, the Stanley Hotel and Suites, Holiday Inn, Laguna Hotel, Dream Inn Hotel and BSP and ANZ banks are all within in a 20 minute drive of each other taking traffic into consideration. There are a number of gated communities like Islander Village, Lamana and Savannah Heights which would take you 10 minutes drive to get to any of these establishments. For a variety of activities and also the convenience of a short travel Waigani is a great location to rent. Gordon’s 5, a suburb which has the Solomon Islands, British and Australian High Commissions; Indonesian, Japanese, Chinese and Korean Embassies all within a five minute walk of each other - shares a boundary with Waigani. Rentals within this area begin at K650per week (appx AUD$240). Click Here to see more property available for rent in Waigani.GordonsThe Gordons suburb is the industrial hub of the capital city. It has the most businesses and warehouses but it also features a vast residential area with many standalone houses. Gordons is the closest to Jackson’s International Airport out of the four suburbs featured. Boroko Foodworld and RH two of the largest shopping centres are located within Gordons. For many expatriates this suburb is attractive because of its ease of its location in the city - easy to get to offices in good time and if you want a weekend escape outside of town to explore the rugged mountains or the white sandy beaches of Central Province then this is an ideal location to search.Rentals in this area begin at K600 per week (appx AUD$204). Click Here to see more property available for rent in Gordons. For more information you can Subscribe to our Newsletter to receive news and updates about new developments, land titles news, insurance information, real estate & housing demand trends and other information for developers or home buyers.
Port Moresby, view overlooking Fairfax Harbour
The ultimate guide to live in Port Moresby as an Expat
June 16, 2022, 5:43 a.m.
Advice
News
Traveling to another country is always an unsettling experience regardless of what you do, the distance you’ve traveled or whether your new country has a similar culture to your origins or not. This process has been made slightly easier by the internet but accessing reliable and current information is still a chore and information obtained locally is more trustworthy and relevant. Moving to Papua New Guinea or PNG, would be a daunting process, especially if one is moving from a more economically developed country. This tiny Pacific island country is one hundred and sixty kilometers north of Australia, has a population of over 7 million, over 800 languages and a reputation for being ‘The Land of the Unexpected’; but it has an exotic allure combining the best of urban entertainment whilst allowing for various off-the-beaten track type of holiday adventures.PNG, being located in the heart of the tropics, provides a wide range of outdoor activities and you can be guaranteed that the weather will be perfect not matter your chosen activity. Another great advantage is the countless locations to choose from to go diving, snorkeling, swimming, trekking, kayaking, fishing, birdwatching etc. The statutory body that is responsible for coordinating and regulating all tourism activities is the Tourism Promotion Authority.Entry RequirementsFor your benefit it’s best to know your specific visa requirements prior to you making your journey, you can contact the nearest PNG Mission in your vicinity. As with any location it is better to familiarize yourself using a long time resident or a local tour guide that speaks the lingua franca ‘Tok Pisin’ fluently.SecurityPapua New Guineans are generally friendly and fun loving people. As with any other major centre in the world, there might  be unscrupulous opportunists so it is wise take precautions by paying attention to your surroundings, avoiding secluded places, organizing your travels to daytime and ensure that your valuables including passports and other travel documents are in a secure place. It is advisable to seek the local contact of your high commision or embassy and keep it on hand.  PNG’s national security will be heightened until the end of November this year (2018) to cater for the Australia Pacific Economic Cooperation (APEC) which is being hosted in Port Moresby.CommunicationThere are four mobile service providers in PNG, Digicel has the best reach throughout the country, Bmobile Vodafone and Telikom networks may not be accessible in rural locations. All plans are compatible to international call rates. A new sim card will cost you K20, equivalent to about AUD$8.20 and the call plans range from daily plans for K3 (AUD$1.22) to monthly plans for K100 (AUD$40.99).AirportsJackson’s International Airport, also known as Port Moresby Airport, is the main hub for the nations two major commercial airlines; Air Niugini the national flag carrier and PNG Air. There are three other international airports; Gurney Airport in Milne Bay Province, Kagamuga Airport in the Western Highlands Province and Nadzab Airport in Morobe Province, provide links to coastal, highlands and in-land getaways respectively. The National Airports Corporation is the body that regulates all air services in PNG. Road travel is geographically challenging because of the rugged terrain carved out by many river systems throughout the country, many journeys are interrupted if a river floods a road or bridge.National Capital District and Central ProvinceOur focus is the National Capital District (NCD), the capital of Papua New Guinea and Central Province. NCD is built upon what used to be traditional land of the people of Central Province. NCD is commonly referred to as ‘Mosbi’ by locals even though Port Moresby is a suburb within NCD. According to projections from the 2011 PNG National Census, NCD and Central Province should have a total population of about eight hundred thousand. NCD and Central offer the best combination of urban nightlife entertainment and outdoor tropical adventures. NCD is where the majority of the nations hotels, motels, restaurants and the foreign missions are located.ShoppingNCD consists of eight suburbs which have their own shopping centres but if you prefer having the convenience of doing your grocery shopping, while grabbing a bite to eat,  and also watching a movie and perhaps having beauty treatment done in one stop; you have the choice of Vision City, Stop N Shop Waigani and Waterfront Foodworld. For locally grown organic food every Sunday between 6am to 10am The Pacific Adventist University grounds host a fresh food and produce market that offer secure parking and attractive prices. If you are planning a weekend outside of Port Moresby, there are also larger trade stores located in the main districts within the Central Province for your convenience.Pictured: Vision City Mall | Source: Looppng.com AccommodationFor short term stay there are literally hundreds of lodges, motels and hotels to choose from that offer a variety of services including airport shuttles, city tours and restaurants. Costs can vary from less than K100 per night for the budget traveller to over K1000 for the travelling executive.For a longer term stay the Airways Residences offer secure, beautifully landscaped grounds that have a convenience store, a bank, a pool, several restaurants, a gym, a massage parlour and generally everything you need in one compound.For longer term accomodation, there are over 3,000 properties and 78 real estate agencies that you can contact by visiting PNG's leading online property portal; Hausples.com.pg. Dining outThere are many places which offer a combination of a great scenic and gastronomic experiences. The following offer sea views: The Ela Beach Hotel, The Yacht Club, The Naked Fish on the Pier and The Edge. Outside of Port Moresby you have Loloata Island Resort and Sunset Lodge. If you prefer having a river and majestic mountains as your backdrop Cafe 630, Koitaki Country Club and the Kokoda Trail Motel are ideal locations. There is also a wide variety of Asian cuisine, including Fusion, Seoul Haus, Daikoku, Imperial, Golden Bowl and Fu Gui. Social ClubsNetworking and getting to know other expatriates in the country can be made easier by going to your nearest social club which include the Aviat Club, Car Club and the Yacht Club. During the weekends there is always a craft market happening where you can purchse examples of the art and culture of Papua New guinea. There are many expatriate clubs that gather frequently in the city - it is really a matter of linking up with those that share similar interests.Pictured: Royal Papua Yacht Club | Source: Royal Papua Yacht Club Business Site Places to VisitDepending on what tickles your fancy there are places that offer a great view, historical and cultural insights and resplendent traditional works of art like The National Museum, The PNG National Parliament House and the Port Moresby Nature Park.Pictured: Variarata National Park | Source: PNG Journeys (Twitter)If it’s a more family oriented leisure activity you are after there is the Port Moresby Adventure Park, The Variarata National Park pictured below has a walking track and many groups conduct their survival and team building camps in this area. The Crystal Rapids offer a refreshingly cool river with barbeque facilities available. There is also Sirinumu Dam - the dam that supplies water to the whole city, if you simply want to escape the city and let the kids run loose.There are many more places to eat, socialize, swim, snorkel, shop and be entertained that NCD and Central Province have to offer. Be adventurous and take a little time out and you will make some amazing memories in PNG.
Kit Homes
Are Kit Homes the Solution to PNG's Housing Shortage?
June 20, 2022, 6:02 a.m.
News
Advice
The increasing demand for more housing has led to the growth of kit home companies in Papua New Guinea.Affordability and timeframes are high on the checklist of a lot of aspiring property owners, and kit homes enable them to tick those boxes. About a dozen companies sell kit homes in PNG with one delivering its product out of Lae and the rest based in Port Moresby, which has the country’s largest property market. The new developments include the Red Sea Housing and Duran Farm projects, adjacent the Baruni and Gerehu-Nine Mile arterial roads in the National Capital District.Land AccessibilityThe opening up of uninhabited land on the fringes of Port Moresby augurs well for the future of the NCD property market. The Gerehu-Nine Mile road has been selected as part of plans by the National Government to free land for affordable housing. Housing Minister John Kaupa, in January this year, reportedly said the National Government had long-term plans to make available land next to the 8-kilometer four-lane road for property development.AffordabilityThe products offered by kit home companies are distinct in design and the materials supplied. For example, local steel makers Atlas Steel PNG and Steel Industries both offer steel frame building kits, but differ in the type of materials supplied, floor plan and price. Bulolo-based PNG Forest Products, which sells timber kit homes under its Niu Homes brand, can ship to any part of the country or abroad.Another company Rhodes PNG Limited, which originally started in design, compliance and project management in 2011, now include kit homes in their diverse range of building products. It can give a quote for construction (to be undertaken by its own workers), after it is shown the building site.David Mackenzie, Rhodes PNG Business Development Manager, said their 1-4-bedroom high-set and low-set houses are affordable and give Papua New Guinean families options in terms of budget and quality.“There is a big problem with housing here in PNG in terms of cost. There is a lot of poor quality housing in the market, with people paying top dollar and getting poor quality products down the track.”“Rhodes PNG uses innovative technologies to ensure affordability without compromising quality.  Our houses are built to Australian standards and come with a 50-year design life.”The building is flexible, so that a high-set house can be modified later to utilise the space underneath as a carport or additional living area. Utilities liaisonOthers such as Stratostream Ltd sell the kit homes, move the materials to the location within the NCD and Central Province, and assemble them in 3 months – the initial cost covering labor, materials, electrical/plumbing/flooring works, joinery, painting, furnishing and power and water utilities.“There are so many inclusions in our kit homes package like NCDC Physical Planning Building Board approval – we will process that. Even services like Eda Ranu and PNG Power, we will also process that,” said Kenneth Lebut, the Stratostream Marketing Manager.Big marketThe sluggish economic conditions in PNG has not had a direct impact on kit home companies. Both Stratostream and Rhodes PNG have indicated that they received public inquiries on their products in the first two months of 2018, despite a slow start by other businesses in the private sector.Kit homes lie at the core of affordable housing and is enabling property owners realize their dreams. Talking to Hausples last month about the real estate market predictions, The Professionals Managing Director Agi Doko said there is still a big market for properties between the K320,000–350,000 price range.“I just don’t think we have sufficient products for a lot of Papua New Guineans within that price bracket and it could be a case of whether there’s sufficient land available,” she said.
The Ultimate Guide to Papua New Guinea
The Ultimate Guide to Papua New Guinea
June 22, 2022, 12:53 a.m.
Advice
Lifestyle
Papua New Guinea OverviewHere is all you need to know about Papua New Guinea, the country specs, key features and the latest real estate prospects and trends.Papua New Guinea (PNG) occupies the eastern half of the island of New Guinea and shares international borders with Australia, Indonesia, Solomon Islands and the Federated States of Micronesia. It is an attractive investment destination and has immense potential in tourism, thanks to its flora and fauna and cultural and linguistic diversity.  It comprises 20 provinces, the autonomous region of Bougainville and Port Moresby, the National Capital District (NCD).Location and Economy of PNGPapua New Guinea (PNG) occupies the eastern half of the island of New Guinea and shares international borders with Australia, Indonesia, Solomon Islands, and the Federated States of Micronesia. PNG is 160km north of Australia and includes over 600 islands and 5,000 km of coastline across 463,000 sq km.  The country comprises 22 provinces, the autonomous region of Bougainville and Port Moresby, and the National Capital District (NCD).PNG is endowed with natural resources and is home to one of the world’s largest tropical rainforests. The country has significant gold, silver, copper, nickel, cobalt, crude oil, natural gas and other mineral deposits. Forestry, mining, petroleum, agriculture and livestock, tourism and hospitality, fisheries, and manufacturing are the major economic drivers in PNG.PNG History and CultureArchaeological evidence suggests that the Island of New Guinea was first settled over 50,000 years ago by humans who likely arrived in two different migration groups at different times.  The first European contact occurred in the 16th century when Portuguese and Spanish explorers chanced upon the main island. Jorge de Menezes, a Portuguese explorer, called it “Papua” when he visited in 1526 – 1527. Spaniard Ynigo Ortiz de Retez called the island “New Guinea” in 1545 as he thought its inhabitants resembled indigenous populations on the African Guinea coast. The island’s southern area was colonised by the British in 1884 and was known as British New Guinea. In 1905, the territory was transferred to the Australian Commonwealth and renamed the Territory of Papua.The northern region, along with parts of the Highlands and Islands regions, was Germany’s territory and known as German New Guinea. Australian military forces captured these areas during World War 1 and administered the region afterwards. When PNG became independent in 1975, the names Papua and New Guinea became amalgamated, hence the name Papua New Guinea.The current estimated population of PNG is ~8.94 million with foreign nationals making up 1% of the total population. The majority of the population live in rural areas, with up to 25% of people residing in urban centres.PNG is reputedly the most ethnically diverse country in the world, with over 850 languages. Geographic regions broadly categorise Papua New Guineans: New Guineans (from the Momase area on the north mainland), Papuans (from the south), Highlanders and Islanders. Port Moresby, the capital of PNG, is situated within a natural harbour on the southwest coast of the mainland. The capital is culturally diverse, and the estimated population of Port Moresby is 400,000 residents.Climate of Papua New GuineaPapua New Guinea is within the tropics, with a typical daytime temperature in the lowlands between 30 - 32 °C and dropping to 23 - 24 °C at night. Although the seasons are influenced by the trade winds (dry season between May and November) and northwesterly monsoons (wet season between December and March), the coastal areas are typically hot and humid all year round, and rain is common.Port Moresby tends to be drier than the rest of the country, receiving an average rainfall of 1020mm a year due partly to its sheltered location. By comparison, Madang gets an average of 3500mm of rain a year. The Highlands region is refreshingly cooler, with temperatures between 20 - 29 °C during the day, dropping to below 15 °C at night. Frost and snow are not uncommon in high altitude areas.Languages in PNGOfficial languages of PNG include English, Tok Pisin (also known as Pidgin English), PNG Sign language and Motu. English is widely spoken and used in the courts, by the government and the education system. English is typically spoken when conducting business, and translators are rarely required.Indigenous languages and local dialects number 850+.Currency, Credit Cards and GST in PNGThe PNG Kina is the currency of Papua New Guinea. One Kina (K) is constituted by 100 Toea (t) - pronounced “toy-ya”.Banknotes are denominated in K100, K50, K20, K10, K5 and K2. Coins in circulation are K1, 50t, 20t, 10t and 5t.All transactions in PNG are subject to 10% goods and services tax (GST). The GST component of a good or service is usually included in the published prices. Most shops, restaurants, and major hotels accept Amex, Diners, Mastercard and Visa credit cards.There are three banks in PNG: Bank South Pacific (BSP), Kina Bank and Westpac Bank. They all issue debit cards on request, as well as standard bank cards which can be used on EFTPOS in most major stores, but can’t be used for online transactions. Be warned, the queues at the bank can be quite long and tiresome, so setting up internet banking at the time of opening the account is wise.Cost of Living in Papua New GuineaPapua New Guinea is an expensive country to live in, from housing to food and lifestyle costs. Rental prices have been compared to Manhattan or Sydney, and there are several reasons for this. The land tenure system favours traditional (customary) land ownership, and only a small proportion of land in PNG is state-owned (~3% by some estimates). Therefore, there is a shortage of land that is available for development, making land prices high. Secondly, many properties have essential services supplied that would not be typically required overseas, such as security, backup electricity and backup water. Secure, quality rental accommodation starts at K1,500 per week for a very affordable home and up to K6,500 for a luxury apartment. Many goods in PNG are imported, and as such, most products include the cost of freight and duty, which are higher than overseas markets. The following table compares commonly purchased groceries against common currencies. PGKAUDUSDGBPEURPHPExchange Rate Aug 2021 (Approx)10.390.290.210.2414.37Properties (per month)      3-Bed Mid Range Apartment 13,000.005,070.003,770.002,730.003,120.00186,810.003-Bed Luxury apartment 21,666.678,450.006,283.334,550.005,200.00311,350.00       Groceries      Coffee 225gm15.005.854.353.153.60215.55Milk 1l6.002.341.741.261.4486.22Cola 500ml3.501.371.020.740.8450.30Bottle water 500ml3.001.170.870.630.7243.11Sliced White Bread5.502.151.601.161.3279.04Rice 500gm3.001.170.870.630.7243.11Cheese (imported)18.007.025.223.784.32258.66Head of Lettuce (local)12.004.683.482.522.88172.44       Eating Out      Meal for 2 at a mid-range restaurant140.0054.6040.6029.4033.602,011.80Meal for 2 at a high-end restaurant250.0097.5072.5052.5060.003,592.50Local Beer12.004.683.482.522.88172.44Imported Beer15.005.854.353.153.60215.55Bottle of Wine60.0023.4017.4012.6014.40862.20Bottle of Spirits180.0070.2052.2037.8043.202,586.60       Education      From3,000.001,170.00870.00630.00720.0043,110.00To56,000.0021,840.0016,240.0011,760.0013,440.00804,720.00       Social Clubs per annum      From1,900.00741.00551.00399.00456.0027,303.00To4,300.001,677.001,247.00903.001,032.0061,791.00
Tips for First Home Buyers and Their Loan Options
Tips for First Home Buyers and Their Loan Options
June 22, 2022, 1:04 a.m.
News
Home Loans & Insurance
Advice
If I was considering buying a house with a Home Loan, what should I do?  There is always a first time for everything. Buying a house for the first time can be challenging, as the process will be new and you will need good advice and guidance to collect all the right documents to ensure that smooth processing of your loan application. Buying a house or property is a big investment for many Papua New Guineans, and takes a good amount of reasoning, planning and commitment. But if you have come to the point of making that choice of buying a property, here are a few tips that can help you go through, with your quest to own a property for the first time. Plan for unexpected expensesWhile property/house shopping, it is good to have extra funds put aside for additional expenses. If you are considering buying an existing property, that will need renovations, then you will need a quote from a contractor for the renovations. If you are planning to buy a brand new property, you may have other expenses that will required funds to assist. Every home buyer will have different requirements, so the extra savings and funds available can be helpful for you. Having additional funds available will help get through the initial stages of putting together your Home Loan application. Letter of SaleIt is advisable that as soon as you find a property that suits you, always ask for necessary proof of ownership from the landlord. A copy of the title is one of the key documents that you will need to have in order for you to buy the property. If it is a new property, make sure that the landlord writes you a Letter of Sale indicating the amount that he will sell the property to you. You should also write a letter to the landlord to accept the offer.Having these documents already assembled will help accelerate the processing of your loan application.⦁ Complete a Loan application form; ⦁ Letter of confirmation of employment & remuneration from current employer; ⦁ Letter of offer from the customer confirming the purchase price and copy of the state lease; ⦁ Letter of acceptance form the vendor; ⦁ Evidence of 20% equity contribution by the customer; ⦁ Super ID and copy of the latest statement; ⦁ Copy of Driver’s license/Passport, NID card;⦁ Salary Deduction AuthorityYour Home Loan application and pre assessmentsWhen trying to apply for our home loan, it is always good to enquire for information on the pack before lodging your application. A Loan officer can help you do an assessment of your loan application before you submit the application and give your guidance of the loan application process.It is always good to find out if you have all the required documents before submitting the application. Always ask the loan officer to confirm that all the appropriate paperwork in order before the application is lodged.Understand the various loan optionsIt is important that customers understand the various Home Loan Products offered in the market.Not all loan products are suitable for one customer, but each customer needs to understand the product before making a commitment.Every home buyer has their own unique financial situation and it’s important to understand which type of loan best suits your needs.For those curious about BSP’s First Home Ownership Scheme,below are few features to consider:Because the loans are intended to finance affordable housing for families who have never before owned a home, the loans have the following features:⦁ The loan amount is capped at K400, 000.⦁ The interest rate is fixed at 4%.⦁ To keep payments accessibly low, long loan terms of up to 40 years are available.⦁ There will be no bank charges or fees.⦁ Early repayment of the loan will not be penalised.You may be curious about how you can source your 10% equity?BSP has also offers an option for young workers to buy homes using their superannuation at an interesting 10% equity rather than a 20% equity which is a standard requirement offered by banks.The equity can be sourced from personal savings, stocks, bonds, term deposits, and proceeds from sale of personal property, Superannuation assistance (housing advance) and assistance from employer by way of Home Ownership grants. Click here to contact BSP.
Putting Value Into Land
Putting Value Into Land
June 22, 2022, 1:15 a.m.
News
Advice
photo credit: visiteasttimor.com Land cannot be considered a commodity in Papua New Guinea. It cannot be priced because of several factors such as ecological, cultural, and social duplication. This is according to Dr. Tim Anderson, a senior lecturer for political economy at the prestigious University of Sydney – basing it off of his “Framework for assessing Compensation for the wrongful loss of customary land.”Does everyone have the same definition of commodity?Dr. Anderson explained that the problem was merely a matter of semantics. This is rooted on cultural differences not only between the West and Melanesia, but also within Melanesia itself.To illustrate, Dr. Anderson told an anecdote from around 15 years ago in Timor Leste. He recalls a western-trained economist being sent out to assess the value of land there. He says, “They went and asked people, ‘when was the last time you sold some land around here?’ They asked and got an answer. No. So, they returned and told the Asian Development Bank that the value of the land in Timor Leste was nothing.”He continues, “The problem is if we keep on the inevitably very true line that land is invaluable and cannot be modified then we are not talking the same language as the big powers who always talks about money.” Is land really not a commodity in Papua New Guinea?Mark Kelep who is the former auditor-general brought up several questions that rose from Dr. Anderson’s stance. Kelep asks, “How do you qualify being associated with the land and being basically pushed out in urban areas?” He also asks, “How do you address the model presented by Dr. Anderson?”He clarifies, “Land is not a commodity. But what goes on it or is in it is a commodity of either extraction or for commercial purposes. I think we need to ensure that we understand that land is not a commodity,” Mr Kelep said.How can this be addressed?Dr. Anderson hopes that by releasing his framework that a dialogue would start the ball rolling and set talks into motion to first standardize the definition, and then set a standard for putting value to land.He explains, “What we are trying to do with this project is to try and get some sense of value of production at least to put correct value on the output as the value of land is separate from the land produces. That’s the first step we have to take, acknowledge that fact that land has a calculable value.”Whatever the case is, determining the value of the land will greatly help the economy of Papua New Guinea because there will be a set standard as to evaluating not only the cost of land but also because this will deter any unfair dealings with locals. And this initiative may be just the thing to help the country step towards that scenario.
Customary Land Grab: Setting the Record Straight
Customary Land Grab: Setting the Record Straight
June 22, 2022, 1:16 a.m.
News
Advice
Just recently, University of Sydney’s Senior Lecturer in Political Economy Dr. Tim Anderson gave his presentation on the “Framework for Assessing Compensation for The Wrongful Loss of Customary Land.” One of the things he argued was that there was a lack of concrete processes in determining the financial value of land in the country. However, it may not just be a lack of process that’s serving as a roadblock. It may also be the lack of laws that protect the rights of landowners – especially for customary land.So, what are the implications that may arise from this? What actions can be done to resolve this gap? Experts in the field weigh in. Setting the backdropWhile Dr. Anderson says that land is not a commodity in the country, Act Now Programme Manager Efrey Dademo mentions that there are commodities that can be derived from customary land. In a conference last 22nd of May 2017, she explains, “The wellbeing and livelihood of our people is directly linked and central to our customary land and the economic value that it possesses.”Dademo continues, “Our people’s resilience to the financial and food crisis in the world is because of the fact that they still have their land in their aid at this time on which they are planting cash crops and food to consume and sell, fuel for cooking, building materials for housing and other livelihood necessities.”This is something that Dr. Anderson agrees with as well. He said in his presentation that Customary land can be a source of greater economic returns. Identifying the problemDr. Anderson states that the reason why the greater economic returns are not being received is because the government trades these land for special agricultural business leases. He mentions that a little over 5 million hectares have already been leased out to corporations. In turn, customary landowners are dispossessed of their properties.Dr. Anderson adds that “In 2013, the government was made aware through a Commission of Inquiry (COI 2013) that these leases were unlawful for failure to follow proper process under the Land Act and, in particular, for their failure to ensure the free prior and informed consent of customary landowners.” Addressing the DilemmaThe problem with the current setup of Papua New Guinea is not that there is a lack of law for customary land. The problem is that there is an absence of law to address customary land issues, thereby leaving customary landowners defenseless. This is according to a recentarticle from The National.This lack of provision for already existing laws at the moment to be used to do the opposite of what it was intended to do. Communal Land Law Foundation principal adviser Mali Voi states, “Currently, our legal system is using the English common laws that do not capture the interest of our traditional or customary land issues.”Voi adds that this allows preference to foreigners rather than the country’s people. He explains, “The current laws are used to dispossess us as we’ve been dominated by foreigners and we are basically helping the foreigners rather than helping our own people.”Dademo echoes this and says that the government was “persuaded by outside interests  with the focus to promote unrestrained economic growth and export earnings in the false hope that this should improve lives of the majority of the people.”This has been an ongoing issue for years now, but there are those in the government itself who are also trying to change the current situation by proposing amendments to the current law regarding land. Now, whether this tension dissipates or not is only a question of how these efforts to change the system will make a difference to the current government’s decision.
How to Build your Savings, Even on a Limited Budget
How to Build your Savings, Even on a Limited Budget
June 22, 2022, 6:02 a.m.
News
Advice
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 financial “To Dos.” This month, we give you 5 Simple tips to help you SAVE, even on a limited Budget. 1. Identify a goalDefine your purpose for saving, whether it’s buying a car or saving up equity for your first home, planning for a baby, or simply earning the financial independence to live the life you want. Start by making a plan; know how much you earn, what you spend on and how much you can put aside to save. Setting your goal in stone will keep your “eye on the prize” when other temptations to spend arise. 2. Keep it out of sightStart by paying yourself first and putting a portion of your pay (even if it’s small) directly into a savings account before you are able to use it.Payroll Deductions: Arrange this with your employer facilitate payroll deductions, before your pay hits the Account.Standing Orders: You can put a Standing Order on your Transaction Account, so there is an automated deduction from your account to your nominated Savings Account. 3. Get paid for savingOpening a savings account has become simple and affordable to manage. There are various options to save. Look at a savings account that is able to lock away your money, earn interest but also has the flexibility to allow you access to your funds in case of emergencies. It is better to be paying yourself and earning an interest than repaying a debt. 4. Contribute as often as you canSaving regularly is key to building your savings balance, but finding small opportunities to save will also help you to gain momentum and keep savings climbing. Review your fortnightly expenses, and see if you can cut back on a few expenses like socialising and sharing a few drinks with friends or spending money on betelnuts and cigarettes.Do the math: We spend K5 per day on betelnuts and K5 per day on cigarettes, maybe more. In one year, you will have spent K10 x 365 days = K3,650.It is better to cut back every now and then. Take the proceeds of your eliminated expenses, and put them right into savings. 5. Open a BSP Plus Saver AccountBSP’s Plus Saver Account is an optional account that can be opened easily if you have a BSP Kundu Account. The Account can be linked to Mobile and Internet Banking. You can view your Balance and Account Statements any time. It does not have a Bank Card linked to the Account, which means that you cannot access your funds via an ATM or an EFTPoS. But of course, if there’s an emergency and you need extra funds from your Plus Saver Account, you can use Mobile Banking to transfer funds from your Plus Saver to your Kundu Account to use.Funds can also be transferred via Mobile and Internet Banking from your main transaction Account to your Plus Saver for Free. A tiered interest plan is paid to your savings balance. This simply means, the more you save, the more interest is paid. Want to know more? Inquire HERE directly to BSP! Or Read more about this product HERE
A Guide to Purchasing Property in Queensland for Foreign Investors Part 2
A Guide to Purchasing Property in Queensland for Foreign Investors Part 2
June 23, 2022, 6:05 a.m.
News
Advice
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 Purchase ProcessStep 1: There is an initial deposit to hold the property: An initial deposit of $5,000 is required to reserve the property. In other words, it will be take it off the market temporarily while you review the contract for sale. This is for a period of two weeks (14 days). If you choose to not go through with the purchase or you fail to fulfill the necessary steps, the deposit will be refunded and no sale will happen.Step 2: There is a legal review of the contract: It must be reviewed by your Australian solicitor. They must then provide professional advice.Step 3: The full deposit is due at signing: The full deposit is typically 10% of the total purchase price. (Financing will require a 20% deposit in total. This 10% will count towards it.)Step 4: Getting finance and FIRB approval: If you are still trying to get financing approved, in order to protect yourself, you can make the contract “Subject to finance approval.” This typically gives you 14 days from the date you signed the contract to get financing in place. If financing falls through, you can terminate the contract. Remember, in order to get a loan in Australia, you will need approval from the Foreign Investment Review Board. Thus, those two details go hand-in-hand.SettlementThe amount of time it takes to get to settlement varies. Existing residential property is typically settled 30 – 60 days after the contract is signed. Pre-construction (“Off the plan”) residential property typically takes around 12 months to be completed. The balance of the purchase price is due at the time of settlement. This is typically 14 days after construction is finished. New homes with separate land and house contracts have separate settlement dates for each contract. The contract for the land is typically settled 30 – 60 days after the contract is signed. Meanwhile, the payments for the house contract are typically done as 5 draw down installments during construction.Insurance and Other ExpensesOf course, the loan payments are not the entire cost involved in owning a property. You should be aware of some of the following typical local expenses: Council rates and water levies are due bi-annually. Utilities, such as gas and electricity, are due quarterly. For apartments, there are quarterly Body Corporate Levies. For homes, there is insurance, due annually.Please note that tenants are responsible for their own utilities and for insurance on the contents of the property. Those are not the landlord’s responsibility. However, Body Corporate Levies include coverage of building insurance. The landlord is responsible for covering common areas plus the walls, floors, and ceilings of the apartment. You are responsible for insurance coverage starting the day you sign the contract.If you have bought a new house, the builder will provide insurance during the construction. Once the construction is completed and you take possession, you responsible for insurance to cover replacement value and the contents of the home.Furnished versus Unfurnished PropertyIn Australia, residential property is typically sold unfurnished. However, “unfurnished” means different things in different countries. So, to be clear, it is standard for unfurnished properties to include a cooktop, an oven, an extraction fan, a dishwasher, an air conditioner, and letterbox. It may also include fencing and landscaping.In Australia, rentals units are also typically unfurnished. However, this is not always the case. Apartments that offer short-term leases must be furnished. Additionally, it is a good idea to furnish residential property that is located close to a business district. In such cases, the additional upfront cost of furnishing the unit can be well worth it. Furnished units near business districts typically charge an extra $20- $50 per bedroom for a weekly rental. Over time, this extra money really adds up and can more than cover the initial costs involved in furnishing the unit.Time to Invest is now. Why?You have just 3 weeks until the Australian Government is bringing in new Foreign investment laws will charge all Foreign investors A $5,000 approval fee!This legislation will come into effect on 1 December 2015 which is just 3 weeks away. Click here for further details. With this new fee your purchase costs on a $400,000 home will increase from approximately 5% currently to 6.25%.So if you are intending to purchase property this year why pay more than you have to?Let us help you with FINANCE, LEGAL SERVICES, and BUILDING. We make it so easy for you to invest when based overseas.We have just listed new 4 bedroom home in Smithfield Cairns area suitable for a Foreign Investors with beautiful high raked ceilings and plenty of light and breeze.Click Here to See Australian Properties and Inquire Now!Want to meet the expert Angela Vinnicombe in PNG directly? Book an appointment HERE NOW!
How to Apply for the FHOS (First Home Ownership Scheme)
How to Apply for the FHOS (First Home Ownership Scheme)
June 23, 2022, 6:05 a.m.
News
Home Loans & Insurance
Advice
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 news, the BSP First Home Ownership Scheme (FHOS) has a much longer loan term and a concessional interest rate. About the First Home Ownership SchemeThe FHOS is a joint initiative between the Government of PNG and BSP, and provides access to all Papua New Guineans to flexible and affordable financial arrangements to enable them to own their own home.The FHOS offers a loan up to K400,000 which means customers will not have to pay for stamp duty. Equity is at 10% and repayment up to 40 years at an interest rate of 4% per annum.And we have a happy FHOS customer, David Jonah, who recently moved into his new home with his family, and he is thankful that he took that step to seek help and advice from BSP.“It was a wise decision to visit my branch and enquire, as I given valuable information which resulted in me deciding to purchase my new house” said Mr Jonah.You can have a house and call it your own. Take that first step HERE. It is open to all Papua New Guineans, whether you are working in the private or public sector, as long as you have the income capacity, including housing allowance, that ensures you afford loan repayments.Now the FHOS is tailored for first home buyers for self-dwelling. If you are interested it is important to note that you must not have not owned or part owned a house under state lease. Your spouse or defacto partner does not own or part own a property under a State Lease. And also you must not have applied for any other housing loan via another scheme.Under the FHOS, these are some criteria:•   Buy land under a state lease for the construction of a new house;•   Build a new house on a state land; and•   Buy both house and land under a state lease; or•   Buy a house which is less than 12 months old that is on a state land.•   Buy land under a state lease for the construction of a new house;•   Build a new house on a state land; and•   Buy both house and land under a state lease; or•   Buy a house which is less than 12 months old that is on a state land.Want to renovate or buy your second home?BSP also offers other Home Loan Products for other customers who may want to purchase another home, want to renovate or extend.The BSP Home Loan product is the best option to take. Unlike the FHOS, this product gives you the freedom to work out your equity and apply for an amount over K400, 000 +. The Interest rate is fixed and repayment terms vary in this instance.Set a Goal and start saving for your House.Everyone can be able to own a house. Make a commitment to start saving up for a house.photo credit: skerah.comIf you are interested, please visit your nearest branch or email [email protected], [email protected] or CLICK HERE to send an inquire.
Real Estate Agents, Respond to Customer Needs and Succeed
Real Estate Agents, Respond to Customer Needs and Succeed
June 23, 2022, 6:05 a.m.
Advice
Housing Projects
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 for the different market needs. The company has advanced well in the real estate industry in developing high quality residential homes including executive duplexes and split level executive houses to offer to the market.It has recently diverted its attention to building more of low and high set standard-alone houses that most of their clients are asking for. Manager for Our Real Estate Ltd., Stanley Naime, revealed that apart from developing and marketing executive duplexes, the company will develop stand-alone houses to differentiate between duplex and the stand-alone houses.“This is because when many of our clients come for inspections, they ask if we have any stand-alone house.”“We learned that the demand for stand-alone houses is very high in the city. To cater for the demand, we will be developing 10-15 stand-alone houses on our project site in the next phase of our property development listings. We have 300 allotments to develop. We are trying to acquire enough land and expand our company into developing more residential as well as commercial properties for lease at very affordable prices,” Mr Naime said.The company had already constructed 12 units in a gated compound at Rainbow Heights in Gerehu. Of those properties, ten units had already been occupied by corporate clients while two units are still awaiting clients to move in. All the units are well designed and maintenance-free unlike other kit homes that require regular maintenance.The internal features of the units are well-designed and come with furnished brown and white goods, tiled ceramic floors, nice air-conditions, spacious kitchen and laundry areas to meet every client needs. The units are not for sale. They are all on rent. The upper units are renting at K1500 per week while the lower units are leasing at K 1200 to K1300 each week depending on the quality of the units.“Market prices depend on the sizes and qualities of the units we have. Our units are of very high quality and they are ideal for corporate clients as our main target market. However, we do not necessarily restrict our properties only to corporate clients. Any client with sound budgets and reputable behavior can occupy the units,” Mr Naime said.Note: Images are for display only.
The Guide to Purchasing Property in Queensland for Foreign Investors Part 1
The Guide to Purchasing Property in Queensland for Foreign Investors Part 1
June 23, 2022, 6:08 a.m.
News
Advice
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 QueenslandMost foreigners who consider purchasing real property in Australia do so for one of the following reasons:Education: Australia’s education system is a magnet for some foreigners. For families looking to send their children to school or to a University in Australia, it often makes more financial sense to buy property near the school in question than to pay boarding fees.Permanent residency: An application for permanent residency in Australia typically takes years to process. Many things are considered in deciding whether or not to grant residency. Property ownership can positively impact the application, in part because it helps establish financial viability of the applicant. For those who can afford it and want to skew the odds in their favor, buying real property is an obvious choice.Low cost properties and good financial returns: Compared to many other locations, Australia’s property prices are low. When combined with generally low vacancy rates, the result for investors is consistent and strong returns, typically 5 – 6%. Adding to the appeal, some loan instruments include variable finance rates below 5%.Need for a part-time residence: Some people do not live full time in Australia, but do visit it very regularly. Owning a part-time residence can be a sensible alternative to hotels for people who routinely engage in business or social activities locally.The Three Main Types of Foreign Investment PropertiesResidential Apartments: Typically, an investor purchases a single apartment in a complex. For some investors, the appeal is that there is usually on-site staff to deal with the day-to-day details of caring for the property and renting it out. Such apartments may be rented out furnished or unfurnished. Furnished apartments charge a premium compared to unfurnished units.Detached Single-Family Houses: This can be an appealing option for an investor because you will only have to pay stamp duty on the value of the land you purchased with the house, rather than on the full value of the house plus the land. On a property with an overall value of $400,000, this constitutes a savings of around $8,000.Commercial Property: This includes things like office space, retail shops and warehouses. One reason this appeals to some investors is that leases are typically three or five years. Another reason that such properties can have appeal is that some of them do not require approval from the Foreign Investment Review Board (FIRB).The Foreign Investment Review Board Defines Legal Eligibility and Limitations for Foreign InvestorsForeign investors are subject to restrictions on the type and amount of existing or previously-occupied property that they can purchase. However, investment in new property is generally not subject to the same kinds of restrictions. Additionally, you will need a solicitor to file your application with the Australian Government. In most cases, the Foreign Investment Review Board (FIRB) must pre-approve the intended purchase. For additional information, please see their website:http://www.firb.gov.au/content/real_estate/real_estate.aspCommon Requirements of Australian LendersProvided they meet certain criteria, it is possible for foreign investors to get local financing through an Australian financial institution. Typical lending criteria may include:The loan amount will be for no more than 80% of the property value.The investor must have secured approval from the Foreign Investment Review Board prior to loan approval.The loan cannot be longer than 30 years.The lender will first confirm your income. Some typical documents required for confirmation include tax returns, employment contract, and a letter from your employer.Professional Advisors and Legal ExpensesLocal law requires you to use a Queensland-based Solicitor or Conveyancing Officer. You can expect there to be legal expenses on the order of AU$1500 for each property.If you plan to rent out the property, you will need an Australian Tax File Number. You will also need to file an annual income tax return in Australia. A local tax advisor can help you file your taxes properly and track tax deductible expenses, such as purchasing costs, loan interest, insurance costs and management fees.The Stamp DutyThe Queensland State Government applies a transaction tax on all property acquisitions under its jurisdiction. This tax is called the Stamp Duty. Owner-occupiers effectively pay a lower rate than investors (landlords, who rent the property out). Here are some examples for comparison purposes only:On a new home with a total value of $400,000, the investor Stamp Duty would be $12,425, but the owner-occupier Stamp Duty would only be $5,250.In a case where the Stamp Duty is only due on the land value and its value is $180,000, the investor Stamp duty would be $4,725, but the owner-occupier Stamp Duty would only be $1,800.Additional information on the stamp duty is available from the Queensland Office of State Revenue official website at www.osr.qld.gov.au. The website has tools that will allow you to calculate the duty by entering the purchase price.The Capital Gains TaxAt time of sale, investment properties are subject to a Capital Gains Tax on any increase in value the property has seen during the time it was owned. However, the sale of one’s primary place of residence is exempt from the Capital Gains Tax. To get an idea of how much this tax is likely to be, you can visit the Australian Tax Office official website at www.ato.gov.au or consult a registered Taxation Advisor.Read more about Australian upcoming laws for foreign investors and check out Australian Properties for sale or express your interest to obtain assistance in purchasing a property in Australia!
Guide to selling a home in PNG
Guide to selling a home in PNG
June 23, 2022, 6:13 a.m.
News
Advice
Are you thinking of selling a home in PNG? If you’re considering putting your home on the market then you need to do one important thing first – PREPARE your home for the real estate market. In case you’re baffled on how to go about doing this, Hausples has got you covered with our guide to preparing your home for its potential sale. As any Papua New Guinean knows, Home sales in PNG are fairly stable at the moment with the market coming down from the boom times experienced at the height of the PNG LNG project. In addition, banks and financial institutions are being more stringent in ensuring that applicants fit their lending criteria with regard to one’s affordability which is utting further pressure on the market. Despite this, any homeowner can’t still achieve an excellent sale price for his or her home with a little planning and some investment in time and marketing dollars. The first step in achieving you desired price when selling a home in PNG is to source the expertise of a properly qualified real estate agent rather than relying on your own wits and whims. Hausples caught up with Strickland Real Estate’s Gayle Nast to get tips on fixing up a home before going head on with the inevitable sale. As a real estate professional that’s been in the game for 21 years, Nast explains that it’s imperative to involve realtors as they are objective and this is particularly so when it comes to real estate in the major cities of Port Moresby and Lae. “It is wise to use the services of a professional real estate agent to conduct the negotiations for price, settlement, what stays with the property [assets] and any other aspect.  The real estate agent is non-emotive and impartial whereas some vendors [sellers] and purchasers can become very heated and emotional during the negotiation and selling stage.  By engaging a professional real estate agent, you can prevent the stress of negotiations and sometimes end up with a very positive result…” Having worked in both the real estate markets of Port Moresby and Sydney (Australia), Nast is well-versed in ensuring that the vendor makes a successful sale. First decide when is the best time to sell your home Nast stated that the vendor’s inclination to sell their home hangs on the absence of any financial pressure. Therefore, the nonexistence of financial pressure plus the vendor’s willingness to sell is equivalent to the best time for the vendor to make a sale. Moreover, PNG vendors have a lead in being able to sell their home at any time without being influenced by climatic changes.“Typically, Australian and New Zealand Real Estate markets focus on the spring period. However, this focus isn’t applicable here in PNG, mainly due to the fantastic climate,” explained Nast. Second hire a respectable solicitor or lawyer To ensure that there are no legal pitfalls after the property is sold, it is absolutely critical to hire a qualified legal adviser and this is particular important in Papua New Guinean given the majority of land is subject to state leases. According to Nast, there are often technical legal issues involved with selling PNG property and so it is paramount to obtain advice about the aspects of legal documents associated with the sale and settlement of a property. She added that the use of a solicitor would ensure that all paperwork and titles pertaining to the sale of the property would be accessible to the vendor. Nast recommended that a number of essentials be cross-checked against the paperwork such as the following:Check out, compare and interview several real estate agentsCompare their marketing strategy, recent sales and negotiation skillsAsk for referrals from previous or current clientsAsk for their professional opinion as to what the property would sell forFinally ask what their commission is for the successful sale of the property Third, know the target market for your home In addition, vendors should also determine who the target market is for their particular property so that they market to that audience appropriately. As stated by Nast, the target market is determined by the property being offered for sale. Therefore, buyers can range from first-home buyers to second and third-time home buyers. And when it comes to buyers, it’s all about leaving them with a lasting first impression where they are captivated with your property. So ultimately, the vendor’s goal is to make certain that their property’s presentation is impeccable.“Presentation makes the property welcoming, neat and tidy…tidy up outside, especially any pet mess, rubbish [and] ensure that the steps leading to the home are safe and secure,” stated Nast.In all, keeping in mind all the above points is key to making your very own successful sale. Whether you own a timber or clad house, pylon or stilt style, selling your home can and should deliver to you a good return. Copyright Hausples.com.pg, article by Pauline Mago-King
Dress up your PNG home with an affordable budget
Dress up your PNG home with an affordable budget
June 23, 2022, 6:14 a.m.
News
Advice
As a PNG homeowner, it’s your duty to make your home a reflection of you. Whether you’re an artsy sort of a person or someone who likes subtlety when it comes to decorating, there’s no reason why you can’t make your home be YOUR home. The idea of decorating or refurbishing a home tends to give people the impression that it’s a hefty exercise. However, if done right it’s bound to be a lot less costly. In this Hausples.com.pg guide we give you some tips on you to spruce up you home without spending all your Kina. The first tip – plan, plan, plan. Planning involves mapping out how you want to decorate; how long it’s going to take; what type of theme you’d like to incorporate into your PNG home; and most importantly how much you’re willing to spend and whether it’s in line with your budget. From your budget, you should have a fair idea of how much you want to spend. With your budget sorted out, you have two approaches to take; you either brainstorm simple Do-It-Yourself (DIY) projects or go for the long road by carrying out a complete renovation of your home.For those who love a challenge of DIY projects then you’ll be pleased to know that spicing up your home is as easy as ABC. You can start off by searching the Internet, particularly websites like Pinterest that give 101 ideas on decorating. Otherwise, the old magazines you have lying around the house could also be a perfect source of inspiration.From the balcony to the bedroom, there’s so many things one can do transform their home’s image. The front door entrance is a great place to make a bold statement. With the help of a hammer/drill and nails, you could hang an intricate cane placemat or carving. Or if you think your furniture is looking a bit drab then instead of purchasing a new set, save money by re-upholstering with your own favourite choice of colours. You could also treat your wooden furniture like cabinets, tables and chairs to a fresh coat of varnish or paint.For décor, there are a multitude of items one can use for interior decoration. In a country like Papua New Guinea (PNG) that spins on the axis of culture, one can use various cultural artifacts for décor. Be it beautifully woven bilums or striking clay pots, artifacts are a great way of investing in your home’s “look”. Renovating on a budget… it is possible! If you already have arrays of décor and have tried your hand at DIY projects and still want to do something more extreme like renovating then that’s fine too. It is essential to decide where exactly you’d like to renovate. After doing so, the next most important factor to keep in mind before venturing onto the path of renovation is once again, BUDGET. If you’re on a mission to save a lot of Kina, it’s wise to get quotations from all the shops you’re planning to purchase from. The quotations allow you to compare prices and determine where you’re likely to save a Kina or two.In Port Moresby, people have a range of hardware stores to look at if they’re considering a home makeover. Yet what most people are looking for when shopping for building supplies is to get not only quality but also cheap materials.For instance, if you’re thinking of giving your bathroom a fresh look with some new tiling then it’d be best to check out a shop like City Pacific Hardware. Unlike other hardware stores, City Pacific Hardware is the perfect option for the grassroots. Word of mouth has proven that this hardware store is the ideal place to scope out refurbishing supplies. It’s been running for four years and seen a great influx of Port Moresby residents.Whether they’re in the process of building their first homes or simply renovating, Port Moresby residents have turned to this hardware store for their needs, supply-wise. Supply and Distribution Manager of City Pacific Hardware, Crisanto Solis stated that since the store’s establishment, it has seen a large number of people coming in to purchase construction materials.“What makes our shop different is that it is a one-stop shop with cheap prices. The products we sell are not only affordable but of good quality.”Also, NasFund members can hold onto their hats as this hardware shop accepts Nasfund cheques. The convenience and affordability provided by shops like City Pacific Hardware are two elements to consider when giving a home a fix up.For those with looking for a one-stop-shop, the Hardware Haus chain of stores operates out of a number of locations  throughout PNG including Port Moresby, Lae, Goroka, Mt Hagen, Madang, Wewak, Kavieng and Kokopo. Hardware Haus carry a very diverse range of hardware and home furnishing to complete almost any job PNG home related task.Whether you’re decorating or renovating your home, dressing up a home doesn’t have to be an expensive task. If you’ve taken the liberty of doing your homework then you’re likely to save a lot more Kina and ultimately end up with a refreshing home.City Pacific Hardware is located at Erima just next door to Erima Big Rooster.Business Hours: Monday – Sunday 7:30 – 16:30Copyright Hausples.com.pg, article by Pauline Mago-King