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A New Era of Living In Bramell Street Downtown Port Moresby
A New Era of Living In Bramell Street Downtown Port Moresby
May 28, 2022, 9:33 p.m.
Advice
Lifestyle
There’s something unique about Bramell Street in Ela Beach, where everything is within reach; where life is a little bit different, rejuvenated and finer than before. It is a neighborhood built on vision, sound planning and manifestation of dreams.Welcome to the Ela Beach Tower, forged upon more than just a residential destination. Where life and lifestyles transcend expectations seamlessly, this 16-storey gamut of three and two bedroom luxury apartments individually cater to a new design and a new way of life, alongside remnants of high profile business offices, It’s a new era of living in Bramell Street, downtown Port Moresby.Ela Beach Tower is a testimony to Kenmore Group of Companies’ efforts to tap into the ever-evolving real estate industry, and raise the bar of luxury and convenient apartment living in an urban location.With its close proximity to popular attractions, recreational centers and a stunning waterfront location, Ela Beach Tower offers a comfortable environment on the back of joyful experiences that are in sync with the hustle and bustle of everyday life.Residents have it allFrom outstanding amenities to breathtaking balcony views, Ela Beach Tower residents have it all. Better still, these luxury apartments individually cater to the needs of their residents, while embracing a vibrant, urban lifestyle.For the corporate client - these residences tend to speak the language of a corporate style of living, welcoming you home to a whole new window of possibilities; where “old fashion” is a foreign language, and "new" and “spectacular” are the residential jargons.The 2 bedroom apartmentThe two bedroom apartment is translated into an internal duplex with ensuite, a gourmet kitchen idealized by hanging lights and modern appliances, open-plan living room, and a study that’s appreciative of the picturesque city and sea view surroundings.The 3 bedroom apartmentNothing screams well-balanced better than Ela Beach Tower's three bedroom apartment, which is accentuated by everything exhilarating, to begin with. The three bedroom apartment is a step ahead of itself in terms of an additional single bedroom with its own study - apart from the master bedroom and the other single bedroom without study - a gourmet kitchen that’s reassured with an island to give more spin on its hanging lights and modern appliances, while an unwavering command of the panoramic views from the private balcony, look on. Popular attractionsEla Beach Tower is just steps away from the iconic APEC Haus, Ela Beach, BSP Town and the Ela Beach Crafts Market Shopping Mall. Apartment amenitiesAll that’s symmetrical in each apartment configuration are the floor-to-ceiling windows, luminax flooring, spacious living room, in-door laundry, designer’-choice master bedroom, and a 24 hour security intercom in line with an integrated camera system.Whether you’re enjoying the tropical weather touring the beachfront, observing water-based activities, or brunching under the shades, this is a locality that gets locals involved in a vibrant and energized landscape.Needless to say, if sweeping views, creative imaginations, and “in a league of your own” means anything to you, then you will love the Ela Beach Tower Apartments.About Kenmore Group of CompaniesThe Kenmore Group of Companies is a sleeping giant, as it is one of the largest and most diversified groups of companies ever to be in operation in Papua New Guinea.With more than 1400 employees, 93% of which are PNG citizens, in command of a sales spectrum worth K430 million annually, this multinational mammoth is a force to be reckoned with.The Kenmore Group of Companies is a scion of a merger between the original Kenmore Group of Companies and a similar diversified group known as The Dylup Group of Companies, back in 1991.Today, the rejuvenated Kenmore Group of Companies oversees twelve distinct operations, spread across seven unique divisions found in Port Moresby, Lae, Tari, Mount Hagen and Kokopo.Kenmore's ongoing success is a testimony of sound business strategies, dedication, and manifesting a vision into reality. Kenmore Group of Companies thrive on: Quality goods and reliable customer service at competitive prices.Enjoyable work environment for employees.Healthy financial growth and stability.Adding economic value to investors' funds. For further information you can get in touch with us on [email protected], or call +67574700243.
Hausples Brings Discounted Property to Renters and Buyers for a Limited Time!
Hausples Brings Discounted Property to Renters and Buyers for a Limited Time!
May 28, 2022, 5:06 p.m.
News
Events & Announcements
In light of the ongoing COVID-19 pandemic PNG’s leading proptech company, Hausples.com.pg, is innovating to help property seekers and the real estate industry via the launch of the Hausples Online Flash Sale. The Hausples Online Flash Sale will showcase the best deals on property for sale and rent across PNG, giving property hunters and owners the chance to transact quickly and easily despite the pandemic.   What is the Hausples Online Flash Sale?The Hausples Online Flash Sale is a three day online event giving property hunters the chance to secure a home for rent or sale at the lowest possible price. PNG’s leading agencies and developers will be offering hefty discounts on selected properties made available on the website: onlineflashsale.hausples.com.pgWhen is the Hausples Online Flash Sale?The event will start at 9am Thursday 13 May and will close at 5pm Saturday 15 May 2021. How do renters, buyers, landlords and owners participate in the event?Property renters and buyers must pre-register at: onlineflashsale.hausples.com.pg Registration and participation is completely free. Hausples will send important information to registered users in the lead up to the event.When will property discounts be revealed?The available properties will be revealed in the lead up to the event, giving property hunters the chance review and make a selection. However, discounts and booking will only be revealed/accepted at the commencement of the event at 9am on Thursday 13 May and bookings will close at 5pm on Saturday 15 May 2021. During this time, registered users will be able to submit a reservation for properties of interest to lock in the discounts and progress the purchasing/rental process.Are you an agency, developer or have properties you want to rent or sell?Landlords, owners, developers and real estate agencies who would like to market property during the event and secure easy and fast transactions should contact the Hausples team on 7470 0243 or email [email protected]  Are you a related business and would like to market your services? Are you a business offering services to the property industry such as finance, insurance, building, homeware or related supplier? Hausples can put your brand in front of tens of thousands of people searching for a home, contact the Hausples team on 7470 0243 or email [email protected]
Customizable Office Spaces That Are More Affordable Than You Might Think
Customizable Office Spaces That Are More Affordable Than You Might Think
May 28, 2022, 5:06 p.m.
Advice
Lifestyle
From K1,800 per square metre for flexible office spaces, there's more to this 23 storey nirvana of living, working and recreation mega structure in downtown Port Moresby than meets the eye, besides bespoke building attributes such as: Best sea views;Vertical landscaping; Automatic physical sun-shading;Tenancy access controls; and,Efficiency throughoutWhether your business office needs spell an open floor plan, private, or a combination of both set ups, the cost per square metre evident throughout Noble Center’s individual office spaces is more affordable than you might think, with single offices starting from under K12,000 per month.Standing tall at a height of 95.6 meters, the Noble Center redefines downtown Port Moresby's skyline, representing a transformation of the modern workplace and confidently assuring the evolution of Papua New Guinea's present-day workforce.China Railway Engineering Group's private K550 million investment in PNG's public domain comprises a 23-storey unparalleled package of amenities, innovative retail and office designs, latest technology offerings, best-in-class sustainability practices and a prime location in the heart of downtown Port Moresby CBD.Economical energy features, such as efficient lighting and energy regenerating machines or devices and more alike, are the standard of today. This is the essence of the Noble Center, making it the marvel of downtown Port Moresby.Of course, it's one thing to insinuate a new office design out of the ordinary, and it's another to remodel an existing office space into a completely different setting. Yet, it's easily doable within the scope of Noble Centre’s flexible design requirements.Whatever your company focus may be, not every employee desires a dedicated and fixed-focus office space. Then there are those that need to operate privately if the smooth flow of operations is paramount. The Noble Center will incorporate a variety of cafeteria concepts and retailing with local and international starters, and modest prices to select.You may be a corporate heavyweight, or an upcoming commercial outfit seeking customizable office spaces that blend your evolving needs, think Noble Center.Tenants will enjoy all the amenities that come with occupying this graceful giant in the skyline of downtown, Port Moresby. As well as other additional exclusivities that are iconic, only, to this unique landmark structure - the tallest in Papua New Guinea and the pacific as a whole.The team at Noble Center are on hand to help assess and implement an ergonomically correct office setup upon request.
BSP assisting first homeowners, a place to call their own
BSP assisting first homeowners, a place to call their own
May 28, 2022, 10:12 p.m.
News
Events & Announcements
BSP PNG| “It’s an unbelievable feeling when they hand you the keys to your house - something that you can call your own,” recalls Margaret Neme when she recently received keys to her first home made possible through BSP’s First Home Ownership Loan (FHOL).Margaret is one of over 1,000 first homeowners to purchase a home under BSP’s FHOL, a home loan product that continues to be very popular and remains an important financial objective for many.“I had a choice of preference for what my dream home would be, but I was unsure about making a big investment in my life. I thank God for seeing my family through during these unprecedented times and having made this bold move was great courage in itself.  I can now say, my family’s future is safely secured, and a place we can call our own,’ Margaret said.“Thank you to BSP for the competitive fixed interest rate, with repayments over a 40 year term, I told myself that it was worth a try. I was not too confident about my application, but giving this an attempt, I made sure, I provided all requirements for loan processing,” Margaret added and, with a few amends and adjustments to her requirements, she successfully qualified for a BSP First Home Ownership Loan.Today, she shows off her keys to her new home. “It’s an unbelievable feeling when they hand you the keys to your house – something that you call your own,” Margaret further added.As at April, 2021, BSP Financial Group Limited (BSP) has approved loans to the total value of K312 million under the BSP FHOL.BSP Group CEO Robin Fleming said while the product is a joint initiative with the government that begin in 2014, BSP has fully funded the program after the government’s liquidity support for the facility “did not eventuate years ago”. “While our FHOL remains at the fixed interest rate of 4%, the lowest offered by Commercial Banks at K400,000 maximum funding availability, our Standard Home Loan Interest rate is 5.5% for those looking at properties above K400,000.  That is not just for a number of years but the duration of loan repayment period,” Mr Fleming added.The interest in the home ownership and for affordable Home Loan Products has been relatively high since the introduction First Home Owners Loan product in 2015. The majority of loans funded are mostly in Port Moresby largely due to size of market and increased interest from housing developers.However, interests from potential homebuyers also remain high across PNG, from young professionals to long-serving employees in both the public and private sectors.In the recently published Hausples survey, results showed that 16% of respondents to the survey were employed in the public sector, who were keen to own a home.Over 70% of respondents surveyed were looking to buy their first home, and 80% of the total respondents needed a mortgage to buy a home. Customers interested in BSP’s First Home Ownership Loan can fill out the form here: https://www.hausples.com.pg/banks-finance/
The Hausples Online Flash Sale generated over 1,000 registrations!
The Hausples Online Flash Sale generated over 1,000 registrations!
May 28, 2022, 10:13 p.m.
News
Events & Announcements
The Hausples Online Flash Sale event offering discounted properties for rent to the public for a limited period of time has received a record of over 1,000 registrations with many property seekers demanding additional stock.The event has been marketed in April as the first online event of its kind in an effort to sustain the real estate industry during the Covid-19 lockdown. In anticipation of the actual event, Hausples made properties visible to the public on Thursday 6 May - one week prior to the discounts being revealed - allowing property seekers to browse through properties and bookmark those of interest. Discounts were revealed at the start of the event on Thursday 13 May and were due to be withdrawn on Saturday 15 May; however, as a result of popular demand the Hausples Group decided to extend the offering for a further week until Wednesday 19 of May. As a result, additional registrations of interest were received for all advertisers, including real estate agencies, the Bank of South Pacific, Telikom PNG, Boroko Motors and many others.   “We are very pleased with the response received from property seekers. Considering this is the first online flash sale ever in PNG, we can safely say that it has been a successful proof of concept and we will definitely plan another event before the end of the year.” says Tom Snelling, Hausples Pty Ltd General Manager.The response by property seekers has been overwhelming and the online event has registered over 1,000 users over a one month period.  “We didn’t expect to receive such an overwhelming response and are delighted to see that people welcome online initiatives such as this one.” added Tom Snelling.Based on the data retrieved it has emerged that over 56% of property seekers were actually looking after properties for sale and were ready to buy. “We are in the process of analysing the data to improve on our next offering; however, early results show a huge demand for properties for sale in the capital city and in regional areas even from overseas investors. In the next event we will capitalise on this and will offer properties for sale at discounted prices.” concluded Snelling.With over 40 properties for rent showcased during the event, Hausples has definitely made a splash in the real estate market by supporting real estate agencies, industry related businesses and property seekers during an unprecedented time.The dates and business program of the next online event have not been released, yet Tom Snelling advised that Hausples Pty Ltd is already receiving unsolicited requests to participate and advertise in the next event and suggests advertisers get in touch for an early bird offer.If you would like to advertise your properties or business in the next event please contact the Hausples team on 7470 0243 or email [email protected]
Location Overview: Ela Beach in Port Moresby
Location Overview: Ela Beach in Port Moresby
May 28, 2022, 5:06 p.m.
News
Advice
Ela Beach is a popular location with mostly upscale residential apartments with spectacular views. It’s a stone’s throw away from the Central Business District and an ideal location for those who work in the high-rise offices in Down Town Port Moresby and has easy access to hotels, restaurants, bars and social clubs.Ela Beach Road is connected to 2-Mile Hill which takes you up past Koki Fish Market, Badili and into the rest of the capital. The freeway is on the other side of the CBD, about a five minute drive, which is the main trunk road into the city.Ela beach was formerly known as Era Kone, meaning Turtle beach in the Motuan dialect of the Papuan region. The local Motu Koita people hold an annual Hiri Moala festival to celebrate the trade wind voyages that were historically held in the region Ela is the major beach front of Port Moresby with white sands that stretches approximate one kilometre It has seen several changes over the years with a new road layout built in 2017 and in 2018, Port Moresby hosted the APEC Summit and APEC Haus was built on reclaimed land at the end of the Beach. It was designed to resemble a Lakatoi sail. Several events are hosted here, including Christmas, New Year and Independence Day celebrations.Ela Beach is a popular sporting and fitness area and ideal for walking and jogging. It is adjourned with basketball and volleyball courts and is well lit into the early evenings with plenty of parking. The prime time for walking is at sunrise and sunset when it’s cooler. Past APEC Haus is the Paga Hill Ring Road, and a two kilometre walk to the other side of the peninsular.There are several long-stay residential apartments here, including Windward East and West, the Ela Vista Complex, Chesterfield and Ela Beach Apartments. There is also the iconic Ela Beach Hotel, bar and restaurant. There is a fuel station at one of the beach and a police station and church at the other. It’s generally regarded as a safe location although care should be taken in large crowds during events. Public transport is available at Ela Beach and there are taxi ranks, although for overseas visitors it is recommended to use private transport and reputable taxis. That’s it from Ela Beach; for more location profiles, please check out Hausples.com.pg
Turning Customary Land into an Industrial Powerhouse
Turning Customary Land into an Industrial Powerhouse
May 28, 2022, 5:06 p.m.
Advice
Housing Projects
Papua New Guinea’s land tenure system is a challenge for landowners and developers to utilise and develop land for the benefit of the community. Sasiva Industrial Park Limited has found a lasting solution to this problem by converting well placed customary land into a state lease for the purpose of developing a state of the art industrial / business park through a strong working partnership with the traditional landowners. Sasiva Industrial Park is a seventy-six hectare development consisting of mixed zoning. The park is strategically located within a stones throw of Motukea International Wharf. With many lots earmarked for warehousing, there are also proposals to construct a supermarket, food and retail outlets, office spaces and a fuel station. The park will also include:Power, water and sewage reticulationMulti-lane sealed roadsDrainageStreet lightingFootpathsRecreational parkSecurity Location, Location, LocationSasiva Industrial Park is just 100m from Motukea’s International Wharf and less than 500m from the customs facility. The Central Business District of Port Moresby is only a 15-minute drive and the park is enroute to the AES Wharf, Puma Refinery, Exxon-Mobil PNG LNG and the proposed Total Papua LNG.  The strategic location of Sasiva Industrial Park is well positioned for future growth and over time will no doubt be a much more centralized location within Port Moresby.Stage OneIn 2021 the developer looks to complete the first stage of the project. This includes the first 1.5km of sealed roads and drainage along with street lighting, water and power reticulation, giving clients access to the first 10 hectares of serviced lots for sale. These lots will range from 5,000 to 20,000 square metres.  Anything outside of these sizes can be accommodated upon request.Located close to Napa Napa Road, this is logistically an ideal location for warehouses and light industry looking for proximity to the Wharf and proposed Customs facility. Special pricing will be given for these prime locations whilst the rest of the park is under constructionSocial ResponsibilitySasiva Industrial Park believes that health, education and adequate housing with power and water connection is important for the people of Papua New Guinea and by partnering with traditional landowners the company has invested heavily over the years to these causes.The company has set up a department that will continue to invest into the local community; giving landowners access to better education, health facilities and accommodation with clean water supply and improved sanitation, setting the standard for how developers should be partnering with the custodians of the land.Companies who choose to relocate to Sasiva will have a piece of mind knowing that they will contribute to the wellbeing of the traditional landowners and their future generations to come.
Location Overview: Central Business District in Port Moresby
Location Overview: Central Business District in Port Moresby
May 28, 2022, 5:06 p.m.
News
Advice
The Central Business District of Port Moresby is the commercial heart of Papua New Guinea, home to the Central Bank, Stock Exchange, the Internal Revenue Commission, as well as office towers, hotels, bars and restaurants. It is located on the main peninsula of Port Moresby, nestled between Touaguba Hill to the East, Paga Hill to the West and Ela Beach to the South.Port Moresby has been inhabited by the local Motu-Koitabu people for centuries, and was sighted by Captain John Moresby of the British Royal Navy in 1873. It was named after his father; Admiral of the Fleet Sir Fairfax Moresby. Now, the Central Business District, typically known as Downtown, is a bustling hive of commercial activity with major developments seen over the past few decades.It is serviced by two main roads: the Two-Mile Hill Road and the Poreperena Freeway, both of which provide access to other parts of the Capital.Being on a peninsula, it offers almost panoramic views of Fairfax Harbour, Walter Bay and the Coral Sea. Champions Parade is one of the most prominent roads in the CBD, On the left is Harbourside South under construction, and the recently completed Nobel Centre, now PNG’s tallest building.To the right is Burns Philp Haus, one of the oldest buildings that has been recently refurbished and occupied by Westpac bank. The tall building to the right is MRDC Haus, formerly Pacific Place, and immediately behind it is the Steamships Shopping Plaza.Next to Nobel Centre is Revenue Haus, home to the IRC, then Burns Haus currently under renovation, followed by Mogoru Moto Building and MMI Haus at the end.All of these buildings are occupied by commercial offices. To the right, on Hunter Street, is Defens Haus, Newcrest Haus and Monian Tower. There are several hotels in the CBD, including the Grand Papua and The Crowne Hotel. The CBD used to be home to PNG’s politics, and Parliament Haus used to sit on McGregor Street before was moved to Waigani.Behind Old Parliament Haus is the recently built Apex Apartments, Crowne Plaza and Deloitte Tower and the Port Terrace Restaurant and Bar nestled in the middle.Harbourside East and West [VT] have a wide variety of restaurants and coffee shops with some of the most spectacular harbour views, with office space above them.Paga Hill is in the background, with Credit Haus and Cuthbertson Building in the foreground. The Bank of Papua New Guinea is to the right of the screen with the BSP Town branch to the left adjoining the iconic Kina Bank Haus which is the tall building in the centre of the screen.APEC Haus and Ela Beach Tower can be seen in the background. To the North of the CBD is Fairfax Harbour, Waterfront Shopping Centre, the Yacht Club and Harbour City in the background, all parallel to the Poreporena Freeway
Sunway Mall - Port Moresby's Newest and Most Affordable Commercial Complex
Sunway Mall - Port Moresby's Newest and Most Affordable Commercial Complex
May 28, 2022, 5:06 p.m.
News
Housing Projects
8-Mile is undoubtedly Port Moresby’s fastest growing suburb. The past few years have seen a new road network, including a connection to Gerehu, and new housing developments such as Kennedy, Skyview, Valkyrie, Malolo, Yorkshire, Glory Gardens and Grand Eden Estates. And with new residential estates comes the demand for commercial developments.Sunway Mall is a 9000+square foot shopping complex close to RH Mobil Service Station at 8-Mile roundabout with easy access from the many close by residential developments, as well passing traffic to and from Sogeri, the Hiritano Highway and Port Moresby North.  It is a tri-storey mall with 24 bays, built from concrete and steel, with parking, security guards, CCTV monitoring and backup water and power. The complex also has an onsite management office to ensure the smooth running of the mall.Sunway Mall is ideal for a range of businesses, including groceries, fashion and clothing, health and beauty, pharmacies, clinics and other retail outlets. Plus, it will cater for commercial offices, storage and light industry.Each bay consists of three separate levels, each one being 119 square metres in floor space, or a total of 357 sqm: Ground floorRoller door to the front and facing into the ground floor precinct.Access door to the rear to the stairwell and carparkToilet and basinIdeal for storage, light industry or retailMid level Front glass facing to the main retail precinctOffers high traffic flowFloor to ceiling glass to the front and rearBalcony to the rearToilets and basinsAlternate access via the stairwell to the rearIdeal for retail outlet or customer facing office spaceTop level 119 square metres of prime office spaceBalcony to the front with view of main retail mallBalcony to rear facing carparkToilet, basin and shower includedAccess via stairwell to the rearCan easily be converted into residential apartment       Each bay is available for rent with prices starting from just K12,000+GST per month, or K403+GST per square metre per annum, giving some of the most competitive commercial rates in the city. Sunway Mall will also consider leasing individual levels with monthly rentals starting from K4,999+GST per month Click Here for Enquiries
Quality Construction Materials By Monier Limited
Quality Construction Materials By Monier Limited
May 28, 2022, 5:06 p.m.
News
Industry Reports
If you are looking for building supplies look no further. Monier is the mark of quality in PNG and is the single largest producer, supplier and distributor of construction materials in the country.Having been in operations for over 60 years, Monier's range of products include ready mix concrete, masonry, quarry products, pipes, plastic tanks and construction sand. Make an order today via this simple form: Make an order here We strive to provide quality, cost efficiency, and sustainability in all we do, and our aggregates and production techniques are no exception. Along with a complete product selection, Monier Quarry offers services including product transport delivery, technical support and specialist industry expertise.All specified quarry products are quality controlled to comply with relevant standards and codes, eg. Australian Standards (AS) for concrete and asphalt aggregates and Department of Works (DoW) specifications for roadbase materials and sealing aggregates. Monier Sands produces high quality and consistent sand for all scales of projects, this is achieved by a number of reliable natural river sand deposits in Papua New Guinea and our state of the art sand washing and screening plant. All batches undergo an extensive quality control testing regime, ensuring conforming products for every projects. Monier Sands can also customise our sand products to meet client and project specifications locally in Papua New Guinea and internationally. Engineered designs or special customer requirements can be manufactured as high quality products that can be relied on with confidence.Many of the Monier precast concrete elements are manufactured to customer’s specific engineered designs with Monier managing the process from development of shop drawings, fabrication of moulds, development of mix designs to prestressing and casting. Smaller standard precast products are held in stock allowing “off the shelf” purchases.Monier offers a range of drainage system components to provide cost effective design solutions for the management of stormwater drainage; manholes, box culverts, gully pits etc. The standard range includes all masonry products generally used in construction of residential, commercial and industrial buildings. Monier has the capability to manufacture masonry blocks and pavers with a variety of textured faces in a variety of colours. Monier produces ready-mix concrete normal (N) and special (S) grades to Australian Standards and to engineers’ and designers’ nominated specifications. Our facility offers a 120,000 square metre drycast facility and contains an innovative manufacturing space. The capability of this new facility offers pipe manufacturing diversity and flexibility that are the envy of the industry.Our product-line is made up of a comprehensive range of infrastructure concrete pipe products and is a leader with production techniques and innovation in casting and curing within PNG. Monier Water Solutions has a strong focus and dedication to innovation and quality in HDPE pipe technologies. We also offer a complete range of jointing systems including electrofusion, stub end, backing rings, mechanical compression couplings, accessories and plastic water tanks and septic tanks. In Addition to its outstanding physical characteristics, HDPE is recognized for its minimal impact on the environment. Make an order here
PNG Real Estate Survey
PNG Real Estate Survey
May 28, 2022, 5:06 p.m.
2022 PNG Real Estate Survey  DOWNLOAD THE 2022 SURVEY REPORT 2021 PNG Real Estate Survey Like every other major sector, 2020 was a challenge for the real estate market due to the impact of COVID-19. However this survey indicates that the market was not as affected as poorly it may appear.On the important question of affordability, for instance, the survey illustrated almost the same results as early 2020, which reflects highly of the overwhelming confidence in the PNG property market. This was boosted by the extensive affordable housing projects that were planned for completion in 2020, before COVID-19 struck.Hausples.com.pg is proud to present you the PNG Real Estate Survey 2021. We hope you can use this survey throughout the year to inform your choices, either as an agent, investor, buyer, or renter. DOWNLOAD THE 2021 SURVEY REPORT 2020 PNG Real Estate SurveyReal estate enthusiasts had much to gain from Valentine's Day than the average night-for-two hotel package. PNG’s leading property portal, Hausples Limited, revealed the PNG Real Estate Survey 2020 last Friday, 14th of February, 2020 at the Lamana Hotel. With four years of data on hand, Hausples is able to update and single out consistency in the data, since the first survey edition in 2017. However, according to Mr. Snelling, anomalies are a given every now and then. So what the number one property portal does is to visit the blueprint of these anomalies, in order to determine a corresponding standard. Hausples proclaims that such occasions are strategic paths for real estate and related industry professionals to extend their market reach, as well as improve their list of genuine business partners. In retrospect, this survey is designed to benefit real estate agents, developers, builders and contractors. DOWNLOAD THE 2020 SURVEY REPORT 2019 PNG Real Estate SurveyThe results of the 2019 Real Estate Survey delivers key information about the property market from the perspective of the general public and analyses key factors such as rentals, sales, financial literacy and consumer feedback. This valuable report is the third annual survey of its kind, which means we can compare results against previous years to see the trends that are shaping PNG. The survey was distributed electronically to the Hausples.com.pg email database, its social network followers and visitors to the Real Estate Shows resulting in nearly 1,500 respondents over a two week period earlier this year.DOWNLOAD 2019 SURVEY REPORT 2018 PNG Real Estate SurveyThe 2018 edition of the survey provides more in-depth insights about the current state of the PNG real estate sector; such as demand in specific suburbs, market buying power, and an analysis of changes in trends since the 2017 survey. The 2018 questionnaire resulted in over 2,000 respondents over a three week period in February 2018.DOWNLOAD 2018 SURVEY REPORT 2017 PNG Real Estate SurveyHausples.com.pg is excited to share the results of the 2017 Real Estate Consumer Sentiment Survey. The survey sheds light on crucial information vital for property industry professionals such as governmental authorities, developers, investors, insurers, financial institutions, personal home hunters, and real estate agents. It was distributed over various digital and physical channels to over 2,000 respondents in both Papua New Guinea and globally; this is likely the most comprehensive real estate survey in PNG history.   DOWNLOAD 2017 SURVEY REPORT
Ultimate Guide About Renting in PNG
Ultimate Guide About Renting in PNG
May 28, 2022, 5:06 p.m.
Hausples.com.pg is PNG’s best source of real estate information via our website and apps (iOS and Android). Hausples works with real estate agencies, property management companies and developers all over PNG to showcase over 3,500 properties for sale and rent.Our website and app incorporate a real-time chat function similar to WhatsApp to allow property hunters to speak directly with agents at any time. Many property listings also include 360° virtual reality tours to give users a true sense of the property. Hausples also provides detailed market trend information, real estate news and operates regular real estate expos to bring all of PNG real estate under one roof.Types of Accommodation in PNGThere are broadly five different types of residential property in PNG. These are reflected on the Hausples website when searching for a rental:ApartmentServiced ApartmentTownhouseDuplexHouses (high and low set) There is also a sixth type of residential property known as a ‘compound’, which contains many different property styles within a gated community. Inside a compound, there may be mixed types of accommodation, such as both apartments and high-set houses.Most properties, whether residential or commercial, offer security services along with backup water and electricity.Apartments in PNGAmericans call them ‘apartments’, the British call them ‘flats’, and Australians call them ‘units’. A subdivision of a bigger building, self-contained with its own bathroom, kitchen, two or more rooms, and all on one floor, is classified as an apartment in PNG. Apartments are the most popular property type for expatriate rentals in PNG because of their convenience and security.Serviced Apartments in PNGServiced apartments are apartments that cater for the higher end market and usually have one or all of the following services included: fully furnished, all white and brown goods provided, security alarms, access to maintenance services (electrician, plumber, etc.), access to a pool, gym and other recreational facilities, airport shuttles, WiFi access. Townhouses in PNGA 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 typically adjoin each other with a shared wall and are generally two storeys with their own front and back yard. In PNG, townhouses often share common facilities like a pool and recreational facilities. Townhouses commonly offer security, back up water and electricity.Duplex in PNGA duplex has only two units attached and offers the privacy of a front and back yard; some may offer shared facilities like a pool. In PNG, duplexes also provide security and backup water and electricity. Houses in PNG (high-set / low-set)High-set houses are the most common houses in PNG and are built on high stilts with a large verandah to encourage air circulation. They typically have three bedrooms, including one with an ensuite bathroom, and car parking space for two vehicles is usually located under the house. In contrast, houses at ground level without stilts are ‘low set’ houses.Compound (gated communities) in Papua New GuineaCompounds are not a property type per se; they are instead a gated community that might house the same or different types of accommodation, such as apartments, duplexes and houses. Compounds generally offer high levels of security and backup facilities (water and electricity), plus shared amenities such as BBQ facilities, pools and gyms. Compounds are a popular choice for foreign residents in PNG.Rental Prices in PNGPapua New Guinea, and Port Moresby in particular, has relatively high rental values compared to other countries. There are several reasons behind this; the cost of security and backup facilities (e.g. electricity) are the primary reasons; however, the availability of state land on which to build has increased land values significantly. Rental prices are usually advertised as a weekly rate exclusive of GST (currently 10%), and invoiced monthly in advance.The ‘Market Trends’ section of the Hausples.com.pg website provides detailed monthly pricing insights: The median asking price for sales and rentals by property type (house, apartment, land and commercial).The yield of different property types (median advertised sale price divided by the annual rental price).The popularity of different suburbs and property types (measured by monthly search volumes on the Hausples website).Indicative Rental Prices for International ResidentsPlease see the Market Trends section of Hausples.com.pg for detailed monthly pricing trends.   Apartment per week 1 Bed2 Bed3 BedMid-RangePGK 1,000PGK 1,500PGK 2,000LuxuryPGK 2,500PGK 3,500PGK 4,500+ House in a Compound per week 1 Bed2 Bed3 BedMid-Range-PGK 2,000PGK 3,000Luxury-PGK 3,000PGK 4,000+ Mid-Range: Mid-range describes properties of a more affordable nature. Mid-range properties are typically located in the Korobosea / Boroko areas and will have the necessary security features in place.Luxury: Luxury properties are more likely to be closer to the CBD, such as Touaguba Hill and Paga Hill. There are also larger gated communities in the Waigani and 6-Mile areas. They would typically be either new or refurbished and have more amenities, such as a pool, gym and BBQ facilities.Security in PNGPapua New Guineans are accommodating, friendly and loyal to a fault. Despite this, the fact remains that PNG is a high-risk country for travellers. The primary security risks in PNG are urban crime (theft, carjacking and assault), domestic violence, robbery and border security. Unfortunately, the main concern for expat visitors and locals alike is urban-based violent crime, which occurs at very high rates nationally. Such crime has made Port Moresby and Lae somewhat hazardous places to live.Given the high crime rates, those moving to PNG should prioritise security measures when considering accommodation. Gated and guarded compounds are a norm, and vehicle tracking and secure taxi services are standard. Ensure that you fully understand the level of security of any potential rental property, and be prepared to pay a premium to secure a property with 24/7 guards and surveillance.Top Housing Security Tips For PNGPhysical barriers (fences and bars)Most homes have a surrounding fence and security bars covering the windows. While these are deterrents, they are not a guarantee of safety. Keep the ground floor windows closed at night and ensure that all doors are locked.Security GuardsThe most common form of security are static guards, a physical human presence looking after your home, generally on a 24-hour shift basis. There are many reputable security firms in PNG, and most companies supply two-way radios in the unlikely event that backup is required.DogsFor those planning on staying in PNG for the longer term, dogs are excellent security guards. Most apartments and compounds are not pet-friendly, but stand-alone houses usually are. There are dog breeders in the country, or you may adopt a dog from the RSPCA.AlarmsSome properties will have an alarm system pre-installed. Alarms usually include panic buttons and sensors which alert a security firm in case of a break-in whilst simultaneously activating audio and visual warnings to alert onsite security. Speak to your landlord or a reputable security company.General Awareness in PNGEven in built-up areas during the day, you should be aware of your surroundings at all times. Know where you need to walk from and to, and ensure you are vigilant of the people around you. Generally, it is best to avoid large crowds. Also, be aware of your personal belongings and display expensive items.PNG Backup Electricity and WaterMost of Port Moresby’s electricity comes from a hydroelectric power station outside the city, with several backup gas and diesel turbines. However, the distribution system is questionable, and power outages are, unfortunately, a fairly frequent occurrence.Most compounds and apartments have a communal generator that will start automatically in a power cut. The upkeep of the generator is typically the responsibility of the landlord, agent or body corporate. Standalone houses may include a backup generator, but the tenant normally bears the cost of refuelling.For people who own sensitive electronic equipment, it might be worth considering the use of an uninterrupted power source (UPS).Similarly, most properties have large water tanks in case of water cuts or low pressure. While water should be used sparingly during a cut; shortages are usually short such that backup tanks remain filled.Lease Agreements in PNGA lease agreement is a legally binding agreement between the agent or property manager and the tenant. A reputable agency will have the agreement ratified by a lawyer, and the tenant bears the cost. The price for this can be between K800 to K2,000.PNG Rental Payments It is common for employers to cover the rental costs for their overseas workers and often have a budget for their employees. Employers will generally pay for the bond fees and legal fees.Rental paid on an employee’s behalf is deemed income received by the employee and is therefore taxable.Tips For Moving InElectricityPNG Power is responsible for the transmission of electricity in PNG. Most homes have an Esi-Pay meter for which you can buy credits at most major supermarkets. The minimum purchase is K15 which will last a few days for a typical household. Top-ups can also be purchased online or via mobile phones. A receipt is issued after you purchase credits with a unique number then typed directly into the meter to increase the units available.InternetThere are several internet providers in Papua New Guinea, including point to point and ADSL connections. However, the most common is to use a 4G wireless router using Digicel, Telikom PNG, or Bmobile. Data can be pre-purchased directly to the sim card, and a monthly package will cost ~K150 for 30GB.WaterWater costs are usually borne by the landlord, at least up to a certain amount. The water is generally considered drinkable; however, many incoming visitors prefer to boil tap water before drinking it. Several bottled water suppliers can deliver water and cooling dispensers for around K22 for a 19-litre bottle.GasGas is commonly used for cooking and is widely available in canisters from hardware stores, garages, and supermarkets. Customers must bring the empty canisters and exchange them for full ones.Smaller sized bottles are between 4.5kg - 9kg and suit barbeques.13kg bottles are sometimes used in residential kitchens and can be installed directly by the tenant or owner. Some houses required 45kg bottles, and these are installed professionally due to the weight.A 13kg gas refill will typically cost K126 and lasts 3 to 4 months.PhoneThere are three major telecom providers in the country; Telikom PNG, Bmobile and Digicel. All providers have good coverage of the main cities; however, the range in rural areas is often limited. For those travelling off the beaten path, it is well worth considering satellite services.Telikom PNG can provide landlines, but these are rarely used in residential homes nowadays. BMobile and Telikom PNG are part of the same group, and their prices are identical. Both networks offer phone and data credit that may be purchased via scratch cards, direct top-up or online. Several “bundle” packs are available, such as:Data plans (K150 for 30GB for 30 days).Moa Packs (K32 for 100 mins talk time, 100 SMS and 1GB for 30 days).International call passes (K19 for 60 mins over 3 days) plus a variety of night passes.Digicel is PNG’s alternate phone and data network and has similar pricing and coverage, such as: Data Plans (K200 for 20GB)Bundle Packs (K110 for 160 mins, 120 SMS and 1.5GB for 30 days)
COVID-19 And The PNG Real Estate Market
COVID-19 And The PNG Real Estate Market
May 28, 2022, 5:06 p.m.
The first case of COVID-19 reached the shores of PNG on March 22nd, 2020 and the number of positive cases reached over 23,000 by October 2021. Although Papua New Guinea has adapted to the pandemic, the economy and real estate sector has of course been impacted.The routine process of buying, renting, or selling a property - as well as home viewings, interested buyers, motivated sellers, and rent enquiries - were forced to adapt to the "new normal" and the mechanics of the property market have changed.It’s been challenging, and the vaccine hesitancy has slowed the rollout of the vaccinations in PNG, which got underway in early May 2021 with the support of UNICEF.How long will the pandemic last? The answer is uncertain. Deja vu?Fortunately, the Real Estate Market has seen it all; from outbreaks, economic recessions, employment redundancies, shifts from a seller’s market to a buyer’s market, lower interest rates, the list goes on. How long the virus outbreak will last, no one really knows for sure. Globally there is a recovery but variants of COVID-19 remain a concern. Real estate is also moving - albeit slowly, while the rental market was impacted by the exodus of expats due to the pandemic. The strict travel restrictions in Australia and New Zealand were contributing factors, although these appear to be showing signs of relaxing by Q4 2021.It is not true to assume it’s business as usual in PNG. Business is continuing, and under the implemented changes to practice social distancing and guidelines from the government and the Commissioner of Police and Controller of the Papua New Guinea COVID-19 National Pandemic Response.Specific to the real estate sector, this means instead of meeting an agent in person for buying or selling a house, clients have the privilege of video chatting, skyping, or simply chatting via Google hangouts or Zoom. A virtual tour might soon become a real estate ritual in PNG. COVID-19 is currently rewriting the book on human interactions and conducting business remotely, so perhaps “virtual real estate tours” might qualify as a new permanent chapter. Listing Property in PNGAs a seller, a lot of buyers are looking to earn the homeowner status. It's essential to anticipate your target buyer (and keep an eye on the profile of buyers in PNG).As long as you understand that if you have a solid reason to sell and you’re enthusiastic about it, then don’t sit on the sidelines. You might end up like the fisherman who let the big fish slip away. Remember, a house that’s been on the market for quite some time loses value and appeal. Buying Property in PNGImagine, with discipline, you had saved up enough to match your down payment for your ideal property. If your home buying plan was to take place before 2020, the future looked promising...until the coronavirus appeared and changed things as we know it.Should you still wait, or should you go ahead with the purchasing property during the pandemic?Undeniably, the economic impact of COVID-19 is extensive, affecting everything, from stock market shares to motivated sellers, to the willingness of both a buyer and an agent to attend a home viewing - enough reasons to raise doubts about purchasing a house.But, like sellers, if buying a house during this period of time is your goal and you’re willing to go the extra mile to achieve it, no matter what, go for it! Devise a plan, consider the options that persist with the restrictions, and work towards your goal. Even though viewing a home in person might not be your best option right now, you can always fall back on other viable online media applications to elicit communication and information.  There is also the possible mid to long term shift in the rental and homeownership situation in PNG. The clear impact of the pandemic on having fewer expat workers could mean that possibly more Papua New Guineans, especially those who may have been promoted into positions previously filled by expats, could be looking for properties it was reported by Business Advantage PNG.AgentsThe real estate market doesn't just collapse in a extreme situation like this. People will still be looking at properties via the internet, and this is where, as a property agent - you want to be prominent. From the comfort of a dinner table, lounge room or coffee table, agents can still conduct business with clients online via Skype, a WhatsApp call, Zoom, or a Google Hangout. COVID-19 has accelerated adaption and technologies.While in-person interactions have been restricted, take advantage of the situation by adapting for your buyers and sellers and also be ready for when restrictions ease in PNG. The fact of the matter is, you need to consider all of the health aspects of conducting your work and act responsibly to prevent the pandemic from spreading.Of note in the business of real estate, if your clients still insist on viewing a home you’ve recently listed, consider the following advice from the WHO:              Practical considerationsWhat do you get when you cross a search engine, an email and a website? - Digital interaction - business-wise, at least. There is a raft of paid-for and free digital tools at your disposal which can help you conduct your business remotely and safely, and of course online.The property market wrestles with both stagnation and slowing demand (just like stock markets). Real estate investors and stakeholders have to keep in mind that a property is both desired, and a long-term investment. Imagine not owning a home to quarantine in during these difficult times; what are the risks of you contracting or spreading the Coronavirus? From a social, work, and mental aspect, people have adapted to the situation from the comfort of a home.The Hausples website search volumes maintain a consistent growth on a daily basis. What that means is that people are still looking for houses to buy and rent, and what better way to do your bidding than interacting with property buyers, investors, renters, sellers or agents - online.Yes, COVID-19 may be responsible for changing the way the world and PNG operate and interacts, and for introducing social distancing to our vocabulary. Travel restrictions and restrictions of movement in your locality in PNG, may prompt real estate buyers, sellers, renters and investors to avoid engaging in substantial transactions is a real-world challenge.But digital interaction and engagement will prevail, as far as the continuity of the property market goes.Here are several practical options you can consider if you wish for your real estate business to endure this pandemic:Virtual toursWhatsAppSnapchat Video chatsGoogle HangoutsSkype Video conferencing, etc Safety Precautions in PNGWhile there's a lot of great information on the essentials you need to know about the coronavirus online, there are some sources that are unreliable. Be careful not to fall for fake news. For well-informed, factual updates, visit official sites or your genuine local media platforms.Common sense should be the key compass for agents, buyers and sellers in these times, in order to make things work, and even thrive. Here’s a few common-sense approaches to staying safe in PNG:Wash your hands with soap and water for at least 20 seconds.Washing your hands is an easy yet effective way to prevent the spread of germs. A trick is to hum a favourite song twice to make sure you wash your hands an ample amount of time.If you don’t have immediate access to soap and water, apply an alcohol-based hand sanitiser with at least 60% alcohol.Wear a facemask to help prevent the spread of disease in the community.Cough or sneeze into the inside of your elbow, not your hands, if you don’t have a tissue.Avoid close contact with people who are sick. Always ask your client before any interaction about their travel history.Constantly disinfect surfaces in your workplace and home.Commonly touched surfaces like doorknobs, handles, computers, tables, switches, toilets, bathroom sinks, counters, and stationeries are potential breeding grounds for germs. Make sure to regularly disinfect these areas, either in your office or before a home viewing takes placeRemember: Cleaning is different from disinfecting. Cleaning merely removes germs, while disinfecting kills germs. For good measure, first, clean a surface with soap (or detergent) and water. Afterwards, you’ll have to use chemicals to kill the germs and lower the risk of infection.Stay healthy -  Get plenty of sleep, physical activity, fluids, and nutritious food to strengthen your immune system.Helpful COVID-19 Resources for PNGBe wise and keep yourself updated on the latest safety tips from reputable sources - organisations that can offer health advice on how to protect yourself and your family and loved ones during these times.Coronavirus Disease - World Health OrganizationPost-courierNational newspaperFM 100EM TV Online NewsBBC WorldThere’s no room for panic during these challenging times. In our quest to navigate such outbreaks, like the current coronavirus. Choosing to panic means choosing illogical and negative thinking, follow the official advise and keep safe and healthy.Here's what the World Health Organization says about overcoming stress:Don’t forget to subscribe to our newsletters for the latest PNG real estate news and updates.
Airways Residences Pom City
The ultimate guide for expat rentals: Pom city's hot picks
May 28, 2022, 5:06 p.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.
An explanation of the residential property types in PNG
An explanation of the residential property types in PNG
May 28, 2022, 5:06 p.m.
Advice
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]
Why Invest In Commercial Real Estate In 2021?
Why Invest In Commercial Real Estate In 2021?
May 28, 2022, 5:06 p.m.
Despite last year's pandemic riddled situations throughout, residential real estate maintained an upward trend in terms of everything from price to development, than its commercial counterpart which very much acknowledged a stagnant progress. Both sectors breathe a world of difference between them, and the pandemic, without remorse, made things even worse by widening the gap further. But in spite of all that, the start of 2021 witnessed a gradual resurgence of commercial real estate. Principally, between residential and commercial real estate, the latter has a reputation for being one of the most reliable ways of growing wealth down the line, even though some investors who were more into commercial real estate investing were challenged by COVID-19. That said, our focus should be more on what we've learnt from the pandemic in order to cement our investments in the future, than earning immediate profits. Still unsure about why you should invest in commercial real estate? Don't worry. Read on to get inspired. Why should you invest in commercial real estate in 2021? A figure of speech, yes, and worthy of a place in real estate investing. You see, there are several ways to invest in real estate. There's house flipping, buying real estate-related stocks (more common overseas), renting out properties, and then there's the BRRRR strategy - unique in itself yet not far from the steps that govern house flipping. Is there more? Most significantly, yes, one among many, and that's commercial real estate (CRE) investing. A speculative option but a promising asset class that reaps high rewards if done correctly. Commercial real estate encompasses a resume of property types which haven't been under the investment radar all this time. If this piques your interests, then read on for what you need to know about this asset class.  To begin with, you need to understand what exactly qualifies as commercial real estate. Commercial real estate, in essence, is the embodiment of any property designed to be profitable. This may cover every major real estate category one might expect - office buildings, retail stores, warehouses, factories, etc., and not to mention the well-intentioned and specialized properties that ticks off hotels, club houses, cafes, even healthcare facilities and anything else along these lines. Why invest in commercial real estate? Investing in commercial real estate, if you don't know yet, is a smart move and it doesn't really matter if you have years of experience in residential properties or you've never invested a toea in real estate at all. Then comes the question 'why commercial real estate?' Well, here are eight reasons why investing in this property sector can add fuel to your real estate portfolio - if this the path you’ve chosen. 1. High income potential The key reason why you might want to consider commercial real estate investing is its potential - meaning, for what it's worth, its potential to earn you handsome returns. Now, most often than not, in Port Moresby and PNG as a whole, many commercial buildings are synonymous with huge rents and price tags, yet these indicate a huge potential for nourishing returns on investments, too. Rather than earning just a few kina monthly on a one bedroom apartment or single-family home for that matter, why not opt for a few thousand kinas or more with a genuine commercial real estate commitment? The expanding margins could inspire a growth to your portfolio in a sprightly fashion - that's if you strategically invest all your earnings in new properties as they come in leaps and bounds. 2. Less competition As evident as ever in PNG's current real estate climate, residential real estate is a highly competitive market with respect to housing prices, although it nearly took on a snail's pace last year. While, commercial real estate, on the other hand, took on a stagnant role.   One way of determining whether it’s a good time to invest in commercial real estate or not is to observe the kina volume for commercial real estate in Papua New Guinea.  If a lower percentage is evident year over year, this means commercial properties might just be easier to find - especially compared to other assets in the market. 3. Endless investment opportunities Commercial real estate investments are irrepressible in that they entail investing in a huge shopping mall such as Range View Precinct, or a high-rise office building such as the Noble Center.  But if that's too much to handle, you can still settle for small, which would entail investing in warehouses, or apartments and what have you.  Flexibility is rife in terms of what you can afford to invest, and where you can invest. 4. Minimal turnover If you're well versed in every aspect of residential real estate, you'd probably agree with this one.  It's not like every apartment and single-family home operate much the same way as commercial real estate, when it comes to investing. But are worlds apart, especially when considering lease agreements.  At this point, commercial real estate is susceptible to three year agreements at a minimum, than the typical one year agreement common among apartments and single-family homes. A long-term lease agreement, for the most part, results in a mild turnover (including unnecessary hassles and associated costs) and ensures the property owner receives a steady cash flow. 5. More help maintaining (and improving) your property The maintenance, general upkeep and general updates to commercial properties is not something that you, as the owner, will have to do on your own, due to the fact that there's more than one net lease at work here.  What this means is that the majority of the property's expenses such as tax, insurance, maintenance costs and even utilities, will be shouldered by your tenants. Normally, the landlord is responsible for these expenses, but who helps make it possible? Yes, the tenant. On that note, you will be privileged to have tenants who are vested in giving the best of their ability to keep the property in shape, than what's commonly standard in residential real estate. This means regular upkeep and leads to an increase in your property's value, overall. It's like a series of positives where one thing leads to another…  6. Less problematic tenants This reason calls to mind a residential property's tenants’ behaviour towards paying rents and leaving day: 'are they paying on time?', or 'will they be moving out soon leaving the place in total disarray?' and a host of others like regular tenant disputes and renter complaints. If this sounds familiar, then investing in commercial real estate is the best way forward, because here things are a bit more professional and ordered. Since you're hosting business tenants- those who have a reputation to protect and money on the line - rest assured that maintaining a good rapport with the landlord and following codes of conduct in ensuring the property is in good shape at all times will be at the top of their minds. In turn unnecessary hassles are kept to a minimum. 7. Multiple portfolios  If you're knee deep in residential real estate, then know this: commercial real estate can be the next best thing in diversifying your real estate portfolio. Since 2020 has taught us that the future is always uncertain, and anything can happen to us in the next minute, hour or day, we should learn from the lessons it brought and strategize towards strengthening our investment goals, and what better way to begin then to spread your investments beyond different assets.  8. Complete proof Eventually, commercial real estate, in effect, is a worthwhile investment as we've seen so far. And if that's not enough, a multi-billionaire like Warren Buffet, for instance, has made heaps of fortune in commercial real estate alone, and he’s still doing so. Now that you know what to expect when it comes to investing in commercial real estate, let it not exist as an idle dream, but a work in progress. Final thoughts Rome wasn't built in a day, likewise wealth isn't built overnight. If you want to reach the top, there are endless possibilities as well as failures you have to pass through before you see the light at the end of the tunnel. In real estate, investing in residential properties is half the story. With commercial real estate investing to dip your fingers in is entirely a different story - better yet, the most reliable, efficient and effective way of building wealth. Disclaimer This article is meant for informational purposes only. Hausples digs into the details of a specific topic and teaches its readers all about how the real estate industry operates. Therefore, not all articles are intended to be construed as financial, or investment advice. Hausples encourages you to reach out for professional help regarding your own real estate situation.
Opportunity To Buy A Home & Land Package For Just K480,000
Opportunity To Buy A Home & Land Package For Just K480,000
May 28, 2022, 5:06 p.m.
  Hausples brings to you PNG’s first-of-its-kind home and land package at the new Valkyrie Estate in 8 Mile Suburb, outside Port Moresby.  The custom-homes designed Valkyrie Estate, which has recently generated huge interest in just a few weeks, comprises 24 plots of three and two bedroom single-family homes with land from K480,000.  For what it’s worth, the estate seemingly is a stepping stone towards addressing the demand for affordable housing in the nation’s capital, making it a truly monumental project ever to be idealized into certainty by some of the big names in real estate and property development projects such as the likes of Century 21 and Rhodes PNG, in partnership with Hausples Limited. The partnership marks a significant turning point in Papua New Guinea’s real estate sector, as it ignites a truly world class affordable living from start to finish. Mainly situated in the fast-becoming popular 8 Mile suburb, Valkyrie Estate sits adjacent to Kennedy Estate, and is in close proximity to shopping centers, schools and medical facilities whilst easily accessible from the city.   Unlike traditional housing developments that acknowledge turnkey house and land packages on the market for a full market value, Valkyrie Estate comprise plots of serviced land sold through Century 21. There are two stages of this project development, where stage one began as two plot sizes, 380 sqm and 450sqm, available among twenty-four plots in total. Each plot is connected to a sealed road with power, water and sewage works ready to be linked. Rhodes PNG, the country’s leading prefabricated house manufacturer, who can provide a range of affordable homes to suit the buyers needs will supply and oversee the construction of these unique quality custom-build homes. Built on light steel frames with modern materials, Rhodes houses are synonymous with international standards, well-insulated and termite-proof and are impervious to harsh weather conditions.   Century 21, one of PNG's most revered property management service providers within the bounds of PNG's commercial and residential real estate, on the other hand, will monitor land sales.  To register your interest, this is how it works: Visit the Valkyrie Estate website Choose the plot of land that best suits your needs. Phase One of the project offers two sizes: 396 m² and 450 m². Choose the house that best suits your family. It can be high-set or low-set, and there are 2-bed, 3-bed and 3-bed with ensuite available. If you need something larger or bespoke then this can be catered for as well. The friendly team at Hausples will contact you to discuss your options and confirm the price. If the price falls out of your budget then alternate options can be considered. The Hausples team can also direct you towards financial assistance, insurance options and add-ons such as gas installations and back-up power and water. Once all of your requirements have been established, your details will be passed onto experts in each area: land purchase, house purchase, building, finance etc. Hausples will work closely with you to ensure that the process is smooth and answer any questions that you may have. For more information and to arrange a viewing of this unique estate, visit www.valkyrie.estate
How To Determine A Potential Investment Property (Part. 2)
How To Determine A Potential Investment Property (Part. 2)
May 28, 2022, 5:06 p.m.
Part one of this two part post covered one of three essential calculations when you’re set on a BRRRR strategy, as a would-be landlord or a newbie investor. The article also introduce briefly what these calculations involve in their truest of sense. Continuing from part one, here, we’ll go into detail as to what this analysis is all about, and what the other two calculations are. Let's head straight into it...  2. Calculating the Cap Rate The cap rate helps to determine if the purchase price of the investment property in question is a good deal or not. Traditionally, however, cap rate will normally vary between properties, in terms of location and market.  Net annual income, on the other hand, represents your total income (or total rent collected) for the year, after expenses have been deducted. This now becomes your total cash flow as discussed in Part. 1. 3. Cash on Cash Return Cash on cash return refers to the amount of money you earn on an investment. Translated in Tok Pisin: hamas moni yu kisim antap long moni yu putim e go insait long wanpela investment. Buying a property with hard cash (i.e., a cash purchase), is no different to a cap rate. Nonetheless, once you finance the investment property of your choice with a loan, the amount will factor into the monetary leverage. As a matter of fact, financial analysts suggest that when utilizing a loan, you increase your purchasing potential by more than 50%. In this case, the cash on cash return will tell you exactly what your financial return is. This idea will become translucent as you read further.   Formula: Cash on Cash = Net Annual Income / Total Cash Invested   As prophesied by the formula, cash on cash return equates to dividing your net annual income by the total amount of cash you've invested, with respect to turning your property into a rental investment. Worthy of note, numbers are only numbers until your estimates or calculations point towards reality. Notwithstanding, even while crunching the numbers you may find they look promising on paper, but the reality is never the same. So it’s important that the outcome is what it’s going to be in reality. In essence, if you're buying a house in a location composed of Class C properties, which means the properties have a poor tenancy reputation, are of low quality, have a high tenancy turnover, coupled with a huge probability of frequent missed rents, you'd be perplexed to move forward with your investment goals. (a) Calculate monthly cash flow Now, supposedly you purchased the investment/rental property with cold hard cash, the first thing to consider is calculating your monthly cash flow: Cash Flow = Income - Expenses Don't forget that after you determine your monthly cash flow, you must then calculate the cap rate.   (b) Calculate cap rate Cap Rate = Net Annual Income / Purchase Price Cap rate, in any case, doesn't account for a mortgage. Instead, it mirrors an estimate for how good of a deal is when comparing the full purchase price.  (c) Calculate monthly cash flow a mortgage With a mortgage, the same calculation format is repeated. But at any rate you end up with a negative cash flow, that means that's how much you'll be earning every month, below the threshold of earning a profit until you own that investment. This may require intelligence, discipline and sacrificing some of your expenses that aren't equally competent in bringing you good ROIs. The same concept applies to hard cash purchases. With cash flow, it's your responsibility to purchase at a much lower price, or simply evaluate the investment property of your interest if there's a need to raise rents. For instance, if the rental market subsequently reason that rental prices should be greater than or equal to K1,000 per month, the cash flow above will look something like this: Of course, it's not uncommon to purchase an investment property with shallow rents. If existing tenants have been around for quite a while, chances are they will continue to pay below market value - an inconsiderable fact of life. However, if the property in question has not experienced repairs and maintenance for some time and - after the purchase - you immediately ensured about-time updates (installing new flooring, replaced broken fly wires, repaired broken walls and louvers, etc), you're better off with new rental rates based on what is currently reflected by the market. (d) Cash on cash return Cash on Cash Return = Net Annual Income / Total cash invested   [Cash on Cash Return = (Monthly cash flow x 12) / Cash to close (Down payment + closing costs)]  The magic of a cash on cash return is that once it is leveraged with a mortgage, your return on investment (or ROI) will improve greatly. A cash on cash return allows you to make small investments, increases your potential to buy several more properties, and revamps your return on investment in a big way.  The thing to remember is that when you're faced with a shallow cash flow, because you have to cover for your monthly mortgage payments, your tenants will be on top of it by way of paying their dues. Now, if you've saved up enough for a rainy day, you have the ability to purchase another investment/rental property, in order to build your overall cash flow. The bottom line  The only way you can have a fair idea of whether or not a property of interest will make a good investment, is by crunching numbers around the three key calculations noted above. If the numbers are feasible, good work! Contact your real estate agent, as the next step, and qualify your offer. However, bearing in mind that your offer will not resemble the asking price. On that note, the asking price will always be about what the owner hopes to earn. Only on rare occasions will the asking price match what the property is truly worth or what the market perceives.  All in all, you must be confident with your offer, in terms of the numbers you have on hand. Leastwise, if the owner asks for more, then the whole project will not make any sense, meaning you'll have to abandon this all idea all together and move on with your search.  But if the property doesn't sell after a while, you can come back with the original offer and still close on the deal anyway. The calculations to evaluate a property are simple. Cash flow Cap Rate Cash on Cash Return We hope you enjoyed this two part article. Please subscribe to our newsletter and stay up to date with the latest news, lifestyle and guides in PNG real estate.     Disclaimer This article is meant for informational purposes only. Hausples digs into the details of a specific topic and teaches its readers all about how the real estate industry operates. Therefore, not all articles are intended to be construed as financial, or investment advice. Hausples encourages you to reach out for professional help regarding your own real estate situation.