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Hausples launches the long awaited 2022 Hausples Expo
Hausples launches the long awaited 2022 Hausples Expo
September 12, 2022, 5:26 a.m.
News
Events & Announcements
After three long years since the last property Expo, Hausples.com.pg, PNG’s leading real estate portal, has announced the 2022 Hausples Expo will be back on Friday & Saturday 11th & 12th November at the renowned Sir John Guise Stadium.REGISTER HERE FOR FREEAs the country recovers from the Pandemic, Papua New Guineans will finally have the opportunity to attend the biggest real estate show in PNG held by household name property portal Hausples.com.pg.Attendees are invited to participate in the 2 day event where they will be able to engage with real estate agencies, discover new properties for sale and rent available in the country, discuss financing, insurance and valuation services; meet builders, developers, suppliers and much more.Held since 2017, the Hausples Expo has made a name for attracting a large crowd of qualified buyers and renters who can quickly resolve their property needs in the space of only 2 days as they’re able to meet with all parties involved in the purchasing or rental process of a property; that is from finding the right property to obtaining finance, from renovating a property to requesting a professional valuation and so forth.Several industry leaders have already confirmed their attendance, including BSP, Kina Bank, Westpac, Nambawan Super Ltd, Rhodes and Mobil.This year the Hausples Expo has seen substantial changes with the introduction of the highly requested “Affordable Housing” section which will replace the “seminar” area for this event; the introduction of the “PNG Made” section with the support of BSP which will cater to local MSMEs; the introduction of the “Outdoor Arena” designed for companies with larger items to display and will help alleviate the numbers of attendees in the arena.General Manager for Hausples, Tom Snelling, says:“During the pandemic, the demand for affordable housing increased in PNG. In a post-COVID environment, we are proud to help link new projects with the market as well as introducing services such as home loans, insurance and valuations to buyers.”“The last event, held in 2019, had over 10,000 attendees over two days and it’s our priority to provide a COVID safe environment as much as possible by providing masks, sanitizers as well as dedicating a booth to COVID-19 awareness.”With economic growth recovering ground from its lowest point in 2020, the Hausples Expo 2022 represents a unique opportunity for serious property seekers to lock in a deal and for aspiring property owners to have a better sense and feel of the market; but it also represents an immense business and networking opportunity for established and emerging companies to engage with a quality audience.Visit Hausples/expo if you’d like to participate as a visitor or if you would like to exhibit.Registrations to attend are completely free!REGISTER HERE FOR FREE
Hausples reveals the results of the Commercial Real Estate Survey 2022
Hausples reveals the results of the Commercial Real Estate Survey 2022
July 14, 2022, 2:07 a.m.
News
Events & Announcements
Following the positive response to the sixth edition of the yearly PNG Residential Real Estate Survey, Hausples is delighted to share with you the results of the 2022 PNG Commercial Real Estate Survey, the first of its kind.The survey provides valuable insights into PNG's commercial property market, focusing on both commercial property owners (who are usually also business owners) and on commercial property seekers. The objective is to define the current business landscape in PNG along with the demand and preferences for commercial properties.The first part of the survey includes responses from individuals that own or rent a commercial space to run their business, focusing specifically on commercial offices, retail, industrial, and hospitality spaces. This provides invaluable information about COVID-19’s impact on businesses, the introduction of work from home (WFH) policies, past and projected sales, staffing, and the digitisation of operations.The second part of the survey addresses the current sentiment of commercial property seekers, showcasing demand and supply distribution by property type and suburb in PNG. It also provides time frames for buying or renting and general preferences in the market.The 2022 Commercial Real Estate Survey is the first of its kind and will be followed by the 2023 Commercial Real Estate Survey which will provide a comparative analysis from this year. Any interested company or advertiser is encouraged to contact Hausples as soon as possible to secure advertising space.Hausples thanks everyone who took the time to complete the survey, and the sponsors who have made this publication possible. We hope that the findings will greatly benefit both the private and public sectors. CLICK HERE TO DOWNLOAD SURVEY REPORT
Quality Construction Materials By Monier Limited
Quality Construction Materials By Monier Limited
June 23, 2022, 6:28 a.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
Sunway Mall - Port Moresby's Newest and Most Affordable Commercial Complex
Sunway Mall - Port Moresby's Newest and Most Affordable Commercial Complex
June 23, 2022, 6:28 a.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
Location Overview: Central Business District in Port Moresby
Location Overview: Central Business District in Port Moresby
June 23, 2022, 6:30 a.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
Turning Customary Land into an Industrial Powerhouse
Turning Customary Land into an Industrial Powerhouse
June 6, 2022, 5:07 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: Ela Beach in Port Moresby
Location Overview: Ela Beach in Port Moresby
June 6, 2022, 5:07 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
The Hausples Online Flash Sale generated over 1,000 registrations!
The Hausples Online Flash Sale generated over 1,000 registrations!
June 6, 2022, 5:07 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]
BSP assisting first homeowners, a place to call their own
BSP assisting first homeowners, a place to call their own
June 7, 2022, 2:59 a.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/
Customizable Office Spaces That Are More Affordable Than You Might Think
Customizable Office Spaces That Are More Affordable Than You Might Think
June 6, 2022, 5:07 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.
Hausples Brings Discounted Property to Renters and Buyers for a Limited Time!
Hausples Brings Discounted Property to Renters and Buyers for a Limited Time!
June 6, 2022, 5:07 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]
A New Era of Living In Bramell Street Downtown Port Moresby
A New Era of Living In Bramell Street Downtown Port Moresby
June 6, 2022, 5:07 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.
Why Invest In Commercial Real Estate In 2021?
Why Invest In Commercial Real Estate In 2021?
June 6, 2022, 5:07 p.m.
Home Loans & Insurance
Advice
Despite last year's pandemic riddled situations throughout, residential real estate maintained an upward trend in terms of everything from price to development, than its commercial counterpart which very much acknowledged a stagnant progress.Both sectors breathe a world of difference between them, and the pandemic, without remorse, made things even worse by widening the gap further.But in spite of all that, the start of 2021 witnessed a gradual resurgence of commercial real estate. Principally, between residential and commercial real estate, the latter has a reputation for being one of the most reliable ways of growing wealth down the line, even though some investors who were more into commercial real estate investing were challenged by COVID-19.That said, our focus should be more on what we've learnt from the pandemic in order to cement our investments in the future, than earning immediate profits.Still unsure about why you should invest in commercial real estate? Don't worry. Read on to get inspired.Why should you invest in commercial real estate in 2021?A figure of speech, yes, and worthy of a place in real estate investing. You see, there are several ways to invest in real estate.There's house flipping, buying real estate-related stocks (more common overseas), renting out properties, and then there's the BRRRR strategy - unique in itself yet not far from the steps that govern house flipping.Is there more? Most significantly, yes, one among many, and that's commercial real estate (CRE) investing.A speculative option but a promising asset class that reaps high rewards if done correctly. Commercial real estate encompasses a resume of property types which haven't been under the investment radar all this time. If this piques your interests, then read on for what you need to know about this asset class. To begin with, you need to understand what exactly qualifies as commercial real estate. Commercial real estate, in essence, is the embodiment of any property designed to be profitable.This may cover every major real estate category one might expect - office buildings, retail stores, warehouses, factories, etc., and not to mention the well-intentioned and specialized properties that ticks off hotels, club houses, cafes, even healthcare facilities and anything else along these lines. Why invest in commercial real estate?Investing in commercial real estate, if you don't know yet, is a smart move and it doesn't really matter if you have years of experience in residential properties or you've never invested a toea in real estate at all.Then comes the question 'why commercial real estate?' Well, here are eight reasons why investing in this property sector can add fuel to your real estate portfolio - if this the path you’ve chosen.1. High income potentialThe key reason why you might want to consider commercial real estate investing is its potential - meaning, for what it's worth, its potential to earn you handsome returns. Now, most often than not, in Port Moresby and PNG as a whole, many commercial buildings are synonymous with huge rents and price tags, yet these indicate a huge potential for nourishing returns on investments, too.Rather than earning just a few kina monthly on a one bedroom apartment or single-family home for that matter, why not opt for a few thousand kinas or more with a genuine commercial real estate commitment?The expanding margins could inspire a growth to your portfolio in a sprightly fashion - that's if you strategically invest all your earnings in new properties as they come in leaps and bounds.2. Less competitionAs evident as ever in PNG's current real estate climate, residential real estate is a highly competitive market with respect to housing prices, although it nearly took on a snail's pace last year. While, commercial real estate, on the other hand, took on a stagnant role.One way of determining whether it’s a good time to invest in commercial real estate or not is to observe the kina volume for commercial real estate in Papua New Guinea. If a lower percentage is evident year over year, this means commercial properties might just be easier to find - especially compared to other assets in the market.3. Endless investment opportunitiesCommercial real estate investments are irrepressible in that they entail investing in a huge shopping mall such as Range View Precinct, or a high-rise office building such as the Noble Center. But if that's too much to handle, you can still settle for small, which would entail investing in warehouses, or apartments and what have you. Flexibility is rife in terms of what you can afford to invest, and where you can invest.4. Minimal turnoverIf you're well versed in every aspect of residential real estate, you'd probably agree with this one. It's not like every apartment and single-family home operate much the same way as commercial real estate, when it comes to investing. But are worlds apart, especially when considering lease agreements. At this point, commercial real estate is susceptible to three year agreements at a minimum, than the typical one year agreement common among apartments and single-family homes.A long-term lease agreement, for the most part, results in a mild turnover (including unnecessary hassles and associated costs) and ensures the property owner receives a steady cash flow.5. More help maintaining (and improving) your propertyThe maintenance, general upkeep and general updates to commercial properties is not something that you, as the owner, will have to do on your own, due to the fact that there's more than one net lease at work here. What this means is that the majority of the property's expenses such as tax, insurance, maintenance costs and even utilities, will be shouldered by your tenants. Normally, the landlord is responsible for these expenses, but who helps make it possible? Yes, the tenant.On that note, you will be privileged to have tenants who are vested in giving the best of their ability to keep the property in shape, than what's commonly standard in residential real estate.This means regular upkeep and leads to an increase in your property's value, overall. It's like a series of positives where one thing leads to another… 6. Less problematic tenantsThis reason calls to mind a residential property's tenants’ behaviour towards paying rents and leaving day: 'are they paying on time?', or 'will they be moving out soon leaving the place in total disarray?' and a host of others like regular tenant disputes and renter complaints.If this sounds familiar, then investing in commercial real estate is the best way forward, because here things are a bit more professional and ordered.Since you're hosting business tenants- those who have a reputation to protect and money on the line - rest assured that maintaining a good rapport with the landlord and following codes of conduct in ensuring the property is in good shape at all times will be at the top of their minds. In turn unnecessary hassles are kept to a minimum.7. Multiple portfolios If you're knee deep in residential real estate, then know this: commercial real estate can be the next best thing in diversifying your real estate portfolio.Since 2020 has taught us that the future is always uncertain, and anything can happen to us in the next minute, hour or day, we should learn from the lessons it brought and strategize towards strengthening our investment goals, and what better way to begin then to spread your investments beyond different assets. 8. Complete proofEventually, commercial real estate, in effect, is a worthwhile investment as we've seen so far.And if that's not enough, a multi-billionaire like Warren Buffet, for instance, has made heaps of fortune in commercial real estate alone, and he’s still doing so.Now that you know what to expect when it comes to investing in commercial real estate, let it not exist as an idle dream, but a work in progress.Final thoughtsRome wasn't built in a day, likewise wealth isn't built overnight. If you want to reach the top, there are endless possibilities as well as failures you have to pass through before you see the light at the end of the tunnel.In real estate, investing in residential properties is half the story. With commercial real estate investing to dip your fingers in is entirely a different story - better yet, the most reliable, efficient and effective way of building wealth.DisclaimerThis article is meant for informational purposes only. Hausples digs into the details of a specific topic and teaches its readers all about how the real estate industry operates. Therefore, not all articles are intended to be construed as financial, or investment advice. Hausples encourages you to reach out for professional help regarding your own real estate situation.
Opportunity To Buy A Home & Land Package For Just K480,000
Opportunity To Buy A Home & Land Package For Just K480,000
June 7, 2022, 6:49 a.m.
Lifestyle
Housing Projects
Hausples brings to you PNG’s first-of-its-kind home and land package at the new Valkyrie Estate in 8 Mile Suburb, outside Port Moresby. The custom-homes designed Valkyrie Estate, which has recently generated huge interest in just a few weeks, comprises 24 plots of three and two bedroom single-family homes with land from K480,000. For what it’s worth, the estate seemingly is a stepping stone towards addressing the demand for affordable housing in the nation’s capital, making it a truly monumental project ever to be idealized into certainty by some of the big names in real estate and property development projects such as the likes of Century 21 and Rhodes PNG, in partnership with Hausples Limited.The partnership marks a significant turning point in Papua New Guinea’s real estate sector, as it ignites a truly world class affordable living from start to finish.Mainly situated in the fast-becoming popular 8 Mile suburb, Valkyrie Estate sits adjacent to Kennedy Estate, and is in close proximity to shopping centers, schools and medical facilities whilst easily accessible from the city. Unlike traditional housing developments that acknowledge turnkey house and land packages on the market for a full market value, Valkyrie Estate comprise plots of serviced land sold through Century 21. There are two stages of this project development, where stage one began as two plot sizes, 380 sqm and 450sqm, available among twenty-four plots in total. Each plot is connected to a sealed road with power, water and sewage works ready to be linked.Rhodes PNG, the country’s leading prefabricated house manufacturer, who can provide a range of affordable homes to suit the buyers needs will supply and oversee the construction of these unique quality custom-build homes. Built on light steel frames with modern materials, Rhodes houses are synonymous with international standards, well-insulated and termite-proof and are impervious to harsh weather conditions. Century 21, one of PNG's most revered property management service providers within the bounds of PNG's commercial and residential real estate, on the other hand, will monitor land sales. To register your interest, this is how it works:Visit the Valkyrie Estate websiteChoose the plot of land that best suits your needs. Phase One of the project offers two sizes: 396 m² and 450 m².Choose the house that best suits your family. It can be high-set or low-set, and there are 2-bed, 3-bed and 3-bed with ensuite available. If you need something larger or bespoke then this can be catered for as well.The friendly team at Hausples will contact you to discuss your options and confirm the price. If the price falls out of your budget then alternate options can be considered. The Hausples team can also direct you towards financial assistance, insurance options and add-ons such as gas installations and back-up power and water.Once all of your requirements have been established, your details will be passed onto experts in each area: land purchase, house purchase, building, finance etc. Hausples will work closely with you to ensure that the process is smooth and answer any questions that you may have.For more information and to arrange a viewing of this unique estate, visit www.valkyrie.estate
How To Determine A Potential Investment Property (Part. 2)
How To Determine A Potential Investment Property (Part. 2)
June 6, 2022, 5:07 p.m.
Advice
Lifestyle
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 RateThe 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 ReturnCash 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 flowNow, 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 - ExpensesDon't forget that after you determine your monthly cash flow, you must then calculate the cap rate. (b) Calculate cap rateCap Rate = Net Annual Income / Purchase PriceCap 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 mortgageWith 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 returnCash 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 flowCap RateCash on Cash ReturnWe 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.  DisclaimerThis article is meant for informational purposes only. Hausples digs into the details of a specific topic and teaches its readers all about how the real estate industry operates. Therefore, not all articles are intended to be construed as financial, or investment advice. Hausples encourages you to reach out for professional help regarding your own real estate situation.
Your Home Not Selling? Here's Probably Why
Your Home Not Selling? Here's Probably Why
June 6, 2022, 5:07 p.m.
Advice
Lifestyle
In every real estate market, there will always be a certain portion of disappointed homeowners whose homes aren't making it past the threshold of selling.  The longevity of their homes sitting as stale inventory on the market is unbearable, and often frustrating for all parties concerned, including listing agents as well as buyers. What you will find in this article is a consideration of five of the most common reasons why a home isn't probably selling as expected, and these factors are highly persistent across every property market. So, in any case, if your home has spent the last six to twelve months, or more, on the market and gradually urging towards expiry, make sure one of the following reasons is not the issue.  Home sellers who are well aware of these common reasons are usually the ones who avail themselves of a huge advantage over their counterparts, because they keep clear of these mistakes. In contrast, if you’re currently frustrated because your home or property isn’t selling, here’s probably why. 1. Overpricing Perhaps, one of the most overlooked crucial factors of why a home isn't selling as expected is the price. If you find yourself in this scenario and you're almost at the point of pulling all your hair out, the first thing you should do as you review your selling strategy is check your pricing. You see, overpricing is no different to the kiss of death when selling a home, and it can cost you a lot at the end of the day. Advisably, you need to understand that there are many mistakes made when pricing a home for sale. So, before you begin your home selling venture, make sure you're well versed with how the market value of a house is resolved. Professional real estate agents don't price a home the same way as a rabbit is pulled out of a hat, no. That's a thing for movies and funny imaginations. What top real estate agents do is that they complete an all-inclusive comparative market analysis (or CMA) on your home, in order to determine its current market value. To these professionals, this is the only way property sellers will know what their homse is comparably worth. In other words, a CMA helps you compare your homse with similar homes that have sold in the past 6 months or so in your area, just like what a home valuer will do for a home buyer. Thus, the process of identifying aspects of two homes that make them both different always allow for positive and negative value adjustments. For instance, if your property has a spacious yard enough to facilitate a gathering, and a similar home was sold recently in the same area with minimal yard space, your home will receive a positive value adjustment. 2. The need for market exposure When a home for sale is injected with a decent - or better - dose of marketing exposure, it can inspire a huge difference, even if it eventually sells and at what price it's been put up for. So, needless to say if your home for sale isn't making any purposeful progress, lack of marketing exposure may be the most possible cause. Of course, there are various types of real estate marketing tactics out there that top-notch property agents employ, especially when it comes to marketing their listings. Knowing that home buyers turn to the internet as a first step towards searching for homes to buy, gives you enough leverage to get in front of them almost everywhere online. Imagine you own a brick and mortar, and you had the option between setting up on the main road that passes through a vibrant city center, or a quiet neighborhood side street. Which one do you think you'd choose? Of course, the main road. The same is with marketing your home. With possibly millions of searches per month, getting your home in front of every potential home buyer online is like planting your home on the busiest road in the city center. The more people see your home, the greater the chances of selling. Not only is this critical, you want to attract the ideal buyer, one that will actually have time for you and in due course buy your home. On that note, the only way to achieve this is being seen by potential home buyers surfing the internet for this reason. The trick is to stand out from the other homes on sale, and that's exactly what you should be aiming for. No magic here. Just making sense of "what ifs" and "why nots". Moreover, whatever the outcome, your success will depend on the type of tools you utilize, be it videos or still images, to give your home for sale the level of exposure it deserves. Collectively, they must be of high quality to the point where your home becomes irresistible. 3. Poor Condition Another reason why your home isn't selling as you'd expect is due to its condition or the state it is in. If it's poorly cleaned, or it shows signs of neglected repair and maintenance, you've just chased your potential buyer. In fact, that's the simplest way of kicking your potential buyer out.Let's consider a few of the more common signs that mirror the poor conditions of a house:Water stains on ceilings;Damaged or missing roof shingles;Dry rot;Uneven flooring, and, Cracks in the home's foundationAnd the like, make up the list of obvious indicators of a home in a desperate state. These are the red flags you need to ensure they are dealt with effectively before your home goes on the market.  The last thing you want is your home ending up as an expired listing because of its lethargy in the market. 4. Foul odors Even an inexperienced first time home buyer does not need an expert to point out what a foul odor smells like. Every home inspection makes a prospective buyer vulnerable to the "smell test" and, for the most part, are the silent killers of quick, successful sales.Odors from cigarettes, pets, or neglected moisture, etc., are the part and parcel of foul odors, altogether concocting yet another reason why your home isn't selling as expected.So, be mindful of this crippling issue when you're set to have potential buyers over for viewing. 5. Spiritless location Location, location, location, yes, a cliche but one that has its merits as well as plays a significant role in making or breaking a home sale. If your house is in an area that's less desirable, then that's probably one of the reasons why your home, of course, isn't selling as expected.Now, your property can be beautiful, cheap yet well maintained and up to standard, but if it's found in a location that has a damning reputation or is nowhere near major conveniences, then that is enough to say why your home has been stagnant ever since its entry onto the market. Bottom line When a particular home takes too long to sell, rather than trying to find out why and become more aware in order to rethink the plan, home sellers concentrate on all things frustrating. The five reasons outlined in this article are some of the most common reasons why a home isn't selling as expected. So if you find yourself in this defeating situation, most likely one of these reasons is the black jack.DisclaimerThis article is meant for informational purposes only. Hausples researches tricky real estate topics, interprets them and teaches its readers all about how the 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.
How To Determine A Potential Investment Property (Part. 1)
How To Determine A Potential Investment Property (Part. 1)
June 6, 2022, 5:07 p.m.
Advice
Lifestyle
In this two part post, we will look at how you can analyze a property to determine its investment potential, if you’re gravitating towards the BRRRR strategy. However, in this first part, we start with:How to analyze a potential investment propertyCalculating cash flowLet’s begin...Investing in real estate, or the other way around, regardless, is a beautiful thing to behold, because of the fact that it offers an immeasurable possibility towards generating an income stream in no time...Of course, it takes time though. Then there's the consideration for property management companies, or real estate agencies who are available to manage your property in a professional manner. Also in line with their existence is their ability to manage every aspect of owning a rental property which you may occasionally feel reluctant to get involved in. Moreover, these property management agencies also specialize in property staging, reeling in clients, collecting rents and everything between.In a different shade of blue, where real estate investing sticks out like a sore thumb, it's all about some math and tons of education to help you through the process by crunching the numbers confidently. Unfortunately, crunching numbers in this case is not for everyone. There are those who play down working with numbers, simply because it can be intimidating just by imagining all the factors involved in evaluating a property's investment potential; hence, to determine its worthiness.In contrast, ask yourself if an ounce of number crunching will result in an early retirement and a clear cut financial independence, would you still hate it?The reality is that not all properties analyzed will turn out to be great investments. Out of 50, or even 100 properties, only three or two will figure as ideal investments down the line.At the end of the day, it all boils down to what good you've gotten out of crunching these numbers. All you need is a little persistence until it all makes sense.After all, the more, the merrier; the more numbers you crunch, the easier the process turns out, and the better your position to accurately spot a great deal.In which case, you will easily distinguish a good investment deal from a bad one, and will make a purchase offer confidently, without hesitance.How to analyze your first rental propertyKnow the AreaJust before you begin analyzing a propety you think is investment worthy, you need solid data about the area in which the property of interest is in, specifically the type of neighborhoods and the market it captures. The following list contain some factors to consider before you begin your analysis:Unemployment ratePopulation growthIndustry – How is the job market?Neighborhoods – Properties in excellent school districts attract long term family tenants, college towns attract student tenants every year, making vacancy lowAppreciation – Is the market continuing to grow and home value increasing over time?Time on market – Are homes selling at, above or below asking price?Typical selling pricesRental market – Are there more rentals available than people looking to rent or vice versa?Gentrification – Are neighborhoods being rehabbed, built-up or repurposed into popular up-and-coming areas? Once you possess all this information, it's time to crunch the numbers till they make sense. On top of that, there are three key calculations you want to do, in order to elicit a good idea of whether or not this property is the investment you're after.1. Calculate cash flowBefore kick starting your business of rental real estate, it's highly critical that you, as an aspiring landlord or property investor, gain a concrete handle on how to calculate cash flow.Besides, cash flow is the lifeline of a rental property business. Better yet, calculating cash flow is not as complicated as brain surgery.In the realm of real estate investment properties, cash flow talks about the difference between the total rent collected (income) - be it weekly or monthly - and the total expenses (including financing costs/debts).In essence, there are two types of cash flow: negative and positive. The former means an investment property has more income than its expenses, while the latter mirrors the process in reverse. How to calculate cash flow(Cash flow = income - expenses)Calculating cash flow is a fairly simple process:Determine the gross income from the property.Deduct all expenses relating to the property.Subtract any debt service relating to the property.The difference is the property's cash flow. Gross rental income refers to an investment property's total income before offsetting expenses and/or mortgage payments. There are some properties, for instance, like a single-family rental, that will only have a single source of income, equating to the rental income itself.Others, especially commercial buildings, will enumerate additional income streams such as on-site laundry, late fees, pet fees, or product sales like key tags, caps, and more. Principally, rental property expenses, including income, will differ by property type.For example, commercial properties that have net leases may have fewer expenses to worry about than a residential rental property that gets by a gross lease.Moreover, some of the common rental property expenses look something like these:Repairs CapExPrincipal and interest paymentVacancyTaxesManagement feesUtilitiesInsuranceClosing costsWe hope you found this article useful. Stay tuned for more to come in part two, where we will expand on the three key calculations involved in analyzing a potential investment property. DisclaimerThis article is meant for informational purposes only. Hausples digs into the details of a specific topic and teaches its readers all about how the real estate industry operates. Therefore, not all articles are intended to be construed as financial, or investment advice. Hausples encourages you to reach out for professional help regarding your own real estate situation.
Valkyrie Estate: House & Land Package from K480,000
Valkyrie Estate: House & Land Package from K480,000
June 7, 2022, 5:04 a.m.
News
Housing Projects
Buying a house in Port Moresby isn’t always a cheap and cheerful affair - a statistic consistent in previous Hausples real estate surveys.But this is about to change, in light of the new Valkyrie Estate offering home and land packages at a starting price of K480,000. This may well be the answer to the plight of affordable housing.Let’s take a moment to understand what a home-and-land package is all about. The offer Valkyrie Estate's house and land packages offer a choice of land and a selection of suitable home designs for these plots. This means  you have the freedom to choose the block of land that suits you, and a home design that fits your lifestyle and budget.Rather than buying a house and land separately, Valkyrie’s house and land package simplifies this process by offering both properties in one package. The EstateTo begin with, phase one of this development comes with two land size options: 396 square metres and 450 square metres. Ultimately, the land sales are managed by Century 21, who also arrange inspections for prospective buyers. You can easily make a booking online at valkyrie.estate. Valkyrie is a large housing development in 8-Mile, adjacent to Kennedy Estate. It has sealed roads, power and water supply, with sewage connections to individual titled plots of land. 8-Mile is one of Port Moresby’s fastest growing communities, with schools, medical centres and shopping close by, bordering excellent road links into the city.  The Houses The houses are supplied by Rhodes PNG and come with a variety of designs to suit both lifestyle and budget. Made from a light steel frame with durable composite materials, they are insulated, termite-proof and have a 40 year design life. As with land, phase one presents two and three bedroom configurations and they can be either low-set or high-set. You decide, Rhodes builds. The floor area, on the other hand, ranges from 43 square meters to 86 square meters.   An important element of this house and land package is all home constructions must be undertaken by a professional, bank-approved builder, and this is reflected in the pricing of this package deal. You can easily make a booking online at valkyrie.estate. How to book a home and land package The Valkyrie Estate website gives information about the land and the houses, and has an in-built enquiry form which includes the pricing for the various packages, renders of the completed estate, and walkthroughs of the showhomes.Not only that, you also have the privilege of utilizing:360 tourswalkthroughpricing tablecost calculatorfloorplans To help with your decision before registering your interest, also on the website.Your enquiry will be forwarded to the Hausples team who will confirm your interest and then passed onto Century 21 who will arrange an inspection of the land with you. Plus, you also get a call back from Rhodes PNG to discuss the housing options and a quotation sent to you through your email.If the negotiations are successful, you will be required to write a letter of offer to the real estate agency, who will reply with a letter of acceptance. This will follow a 10% deposit, only for the land.The quotations, on the other hand, together with your letter of acceptance will be presented to your bank, in order to obtain a home loan. Once approved, the titles are transferred to you and construction commences. Typically, it would take between 10 to 17 weeks for a single home to be completed, which largely depends on the type of design chosen.Visit www.valkyrie.estate to find your dream home and make a booking whilst stock lasts!