Image: H2OffIt is often said that Papua New Guinea (PNG) is a country with an abundance of natural resource wealth. The development of these resources contributes immensely to the country’s growth in terms of revenue. Resource projects like PNG LNG have already increased PNG’s revenue through its first full year of exporting liquefied natural gas from its $US19 billion plant.More so, these projects have had a positive impact on areas like employment, construction, transport and communication which ultimately signal economic growth. PNG’s economic growth is good news as it means a more tangible focus on infrastructural developments is seen by the people. The development of both existing and new infrastructures means better service delivery for the bulk of Papua New Guineans who live in remote areas. For a country that is home to rugged terrain, there is a dire need for efficient road network systems, wharves and airstrips in order for Papua New Guineans to have access to services.Perhaps a sure sign of PNG heading towards greener pastures in infrastructural developments is the proposed establishment of the Infrastructure Development Authority (IDA). The notion behind IDA is to use profits from the LNG project to both “rehabilitate and maintain” infrastructure, as supported by Sir Mekere Morauta. The proposed establishment of the IDA would prove vital to solving PNG’s infrastructure woes.This effect could be greater if the IDA’s funding comes from sources other than only the Government’s annual budget allocations which might be inadequate to support infrastructural developments. Moreover, the uncertainty as to whether IDA will be involved in the maintenance of existing infrastructure is a hindrance to PNG’s infrastructural development. This grey area needs to be clarified as it would be more logical for IDA to rehabilitate current infrastructure as opposed to investing in new infrastructure that will not incur greater returns. 2015 Pacific Games Pushing Development ForwardAlthough the establishment of the IDA is still underway, it does not mean infrastructural developments are at the bottom of PNG’s priority list. One can already see the facelift PNG is getting in the upkeep of its infrastructure in the nation’s capital of Port Moresby. Huge events like the 2015 Pacific Games have pushed for the development of sporting facilities and stadia namely: Taurama Aquatic Centre, Sir John Guise Stadium, Games Village, Rita Flynn Netball Courts and the Sir Hubert Murray Stadium.Then there is the refurbishment of the Gordon Market, the iconic Pineapple building, Port Moresby General Hospital (POMGEN) and Jackson Domestic and International airports; as well as the development of new infrastructure like the Kookaburra Flyover at Erima and the Convention Centre which is in preparation for the 2018 APEC Summit. Other projects in the pipeline are the Highlands Highway, the expansion of Lae port and the establishment of a four-lane highway which will link the trading heart of Lae to its airport at Nadzab.Furthermore, demand for construction is also on the rise with buildings popping up everywhere. New Developments and Fast Growing Suburbs Leading PNG’s GrowthFor instance, Avenell Engineering Systems’ (AES) construction of the tuberculosis ward at Daru General Hospital, residential dormitories at Port Moresby Technical College and new buildings for the Pacific Adventist College, as reported by Business Advantage. Similarly, the housing sector is progressing with the establishment of projects like Duran Farm, Gobuta Estate and Edai Town  which are all hoped to counteract the high cost of real estate. Other provinces like Milne Bay and East New Britain (ENB) have put great emphasis on maintaining key infrastructures that will ultimately ensure their advancement in terms of business and service delivery to its people.Whilst several development are improving PNG’s growth,  the Government needs to take into consideration infrastructural developments in not just Port Moresby but all other provinces to advance as a nation.Above all, revenues from resource projects like the LNG should be used extensively to fund infrastructural projects and upcoming establishments like the IDA which could prove useful towards aiding development. Infrastructural developments in PNG is key to linking the whole country and achieving growth.To receive news and updates about New Developments, Free Land Titles News, Real Estate Trends and other programmes to help PNG home buyers, CLICK HERE to receive the Hausples.com.pg Newsletter!

At the launch of several large projects in the Southern Highlands Province, PNG’s Prime Minister Peter O’Neill said that the “winds of change are coming” to some of the Nation’s most remote districts. In a speech to people in both Kagua and Nipa, he emphasised the dramatic growth rate of PNG’s economy which is driven by new projects and housing developments not only in Port of Moresby, the main capital, but also in distant suburbs which are recently experiencing incredible growth such as East New Britain, the fastest growing province in PNG.He also talked about the billions of Kina in various trust accounts and the projects they are funding, though the funds need to be managed better. East New Britain was previously devastated by volcanic activity in 1994, destroying 80% of the buildings in Rabaul, which was the local capital at the time. Currently, there are plans to focus on reviving the old business district in Rabaul, starting with the old market area. Ekonia Walom, the new town manager, talked about plans currently in place to rapidly bring much-needed development. He spoke of plans to establish a new cheque account and a new accounting system. The expectation is that this will strengthen the administration and improve accountability. From Volcanic Destruction to Fastest Growing Province in PNGGiven how devastating the volcanic activity in 1994 was for East New Britain, impressive development has already occurred. A high number of development applications are being reviewed by the East New Britain Physical Planning Board. ENB’s new capital of Kokopo  is now the fastest growing town in the country and the trend seems to be constant as about 95% of the applications were for projects in Kokopo. These projects include The Gazelle International Hotel, a service station, the Gazelle Restoration Authority, the Kokopo Sports Stadium, and a new headquarters for Kokopo/Vunamami LLG. Housing Projects and Touristic DestinationThomas ToBunbun, chairman of the East New Britain Chapter of the Communal Land Development Ltd., talked about the mix of urban and rural businesses in Kokopo and how it has become a tourist destination. Tourism has gone a long way towards supporting development. Connecting Kokopo to the provincial Tokua airport has helped support business and tourism.The additional development has helped to increase local demand in the construction industry, which has also been good for the local economy and fot the growing province in PNG. This demand is in the form of both commercial and residential developments.New residential estates include, but are not limited to Tibur, Kenabot, and Takubar. The New Guinea Islands Historical Society (NGIHS) founder Gideon Kakabin talked about the Warangoi area as another highly desirable location. It has a rural character, yet also has easy access to the local capital of Kokopo via well-developed roads.If you prefer cooler weather, Toma is a potentially desirable destination. People seeking affordable housing and willing to commute can check areas on the outskirts of town or beyond. Those areas tend to have lower prices, yet are still within reach of the in town amenities. Mr. Kakabin indicated that the predominant housing stock in the growing province consists of three-bedroom stilt houses. They are typically made of timbers, but have an iron roof and wood floors. More recently, brick is becoming more popular.Because of the low crime rates and incomparable natural beauty of this province of small islands, many people consider it to be an ideal place to live. It has a great climate and incredible views in unique terrain. The limited number of tribal groups in the area helps keep friction at a minimum. For many people, it is a quiet and peaceable area.To receive news and updates about Free Land Titles initiative and other programmes to help PNG home buyers, CLICK HERE to receive the Hausples.com.pg Newsletter.

The recent figures for the Consumer Price Index in Papua New Guinea show a vertical shift for housing and health industries in the last four months. Since October the health sector has experienced a dramatic growth of 24.1percent in CPI conquering the first position in the Consumer Price Index.Also the Real Estate sector shows a similar and interesting trend with CPI scaling by 14.9 percent. While CPI graph for the health sector literally shows a skyrocket trend from October to December and a gradual increase afterwards, the real estate market CPI shows a steady increase over time.It is interesting to notice that the rise for the health group in its Consumer Price Index was due to the increase in health consultation fees in private hospitals, probably in response to the introduction of new facilities and the need to cover the costs. However, the increase in consultation fees was not the only responsible factor for the general rise of the CPI; as a matter of fact, individual prices of medical products, such as pain killers and antibiotics, have increased substantially leveraging health’s CPI. The Real Estate Market CPI increase reflects with major improvements and new developmentsSimilarly, the real estate market has experienced a strong growth due to Government and private initiatives to restore old buildings and run general maintenance activities. Some of these initiatives include the First Home Ownership Scheme introduced by the Bank of South Pacific, which provides clear guidelines and privileges to first home buyers in order to buy a house. Recently, the O’Neill Government is also working toward giving 40,000 free land titles to public servants and then to working class individuals to push the country toward faster development. One of the most acclaimed and ambitious projects is the Duran farm, which is a major master plan worth K7 million being built just outside of Port Moresby and is expected to provide 2500 houses yearly per contractor. In addition to the housing project, several amenities will be built around Duran Farm, such as schools, hospitals and banks. Papua New Guinea is heading toward exponential growthAll these initiatives have made homes for sale and rent more expensive with owners hoping to close advantageous deals with potential tenants or buyers. As discouraging as it may sound, the increase in rentals and sales might not entirely be a bad news as this means also facility improvements, regular maintenance activities and repair operations along with upcoming new developments in city areas.From these statistics it is reasonable to think that an increase in health and real Estate CPI, respectively by 24.1 and 14.9 percent, is proportionally linked to the introduction of better health care, improved facilities, and a general increase in the standard of lifestyle and security across major cities of Papua New Guinea. To receive news and updates about Free Land Titles initiative and other programmes to help PNG home buyers, CLICK HERE to receive the Hausples.com.pg Newsletter.

Hausples.com.pg  is very excited to announce the launch of a new “International Section” featuring Fijiand Australian properties.Whilst Hausples.com.pg is very proud to be advocating for better access for housing for the average Papua New Guinean, our new international section recognises that some lucky citizens and residents are considering property purchases overseas. As such, our new International Section features Australian and Fijian properties; the most common countries for PNG nationals and expatriates to purchase real estate.In this newsletter we consider the lifestyle and financial benefits for Papua New Guineans to invest in Australian properties.  An upcoming newsletter will focus on Fiji and a further exciting strategic partnership for Hausples, our real estate agents and our sellers and landlords. Stay tuned! Why consider purchasing in Australia?One of the most valued benefits for Papua New Guineans when purchasing Australian properties is the availability of high quality education. When you couple this with the strong investment returns available on Australian properties, it’s not surprising that Australia is an investment hotspot for PNG nationals.Cayman Properties’ Queensland international marketing specialist Angela Vinnicombe says “An increasing number of PNG families are realising the dual benefit of investing in Australia now with a view to achieving significant capital returns once their children complete their education and return to PNG. The families then have the option of renting the property out to further their investment or selling it.” Which cities to consider?Strategically, the most popular locations for education and  investment in Australian properties are Cairns and Brisbane in Queensland.Angela says that for senior schooling and university education, Queensland and Papua New Guinea have a natural affinity with a similar climate and short travel distances from Port Moresby to Cairns of 1 hour and 40 minutes, whilst to Brisbane the trip takes just 3 hours.“80% of my Papua New Guinean client base is investing to support their families educational aspirations and Queensland is seen as the ideal market” explains Angela. Where to invest and buy Australian properties?“The best locations to invest in are those with easy access to a mix of both Government and private schools, universities and other tertiary institutions such as TAFE. These locations are sought ofter by both local Australians and foreign citizens, this ensures strong demand and the  potential for rapid capital growth” says Angela.Cairns is one of the most sought after cities by Papua New Guineans. According to Angela “The beach suburbs of Trinity Beach, Trinity Park and Kewarra Beach are particularly popular due to their close proximity to the beach and natural parkland areas. In addition, these suburbs are a short walk or bus trip to the commercial hub of Smithfield which is home to restaurants, shopping centres and the popular James Cook University. James Cook University is well renowned and offers a wide range of courses in business, law and science.’Outside of Cairns, Angela cites Brisbane as the second most in-demand city for investments. “The capital of Queensland, Brisbane has all of the conveniences one would expect from an international city. Suburbs likely to achieve strong capital growth include Brighton and Narangba in the north, while in the south Crestmead, Logan and Beenleigh are seeing strong investment returns.Finally, the Gold Coast is experiencing a renaissance, with the subsurbs of Pimpama, Coomera and Helensvale proving very popular given their proximity to the GriffithUniversity Parkwood campus.Of course there aren’t just investors looking to purchase residential properties in Queensland. More and more Papua New Guineans and foreign expatriates are diversifying their portfolio with strategic investments into blue-chip commercial, industrial and retail properties. Are you interested in finding out more about purchasing property in Australia? Click Here.

2014 saw continued prices increase in PNG real estate, causing concern among Papua New Guineans who feel that affordability is at an all-time low.Moving into 2015, there are range of government initiatives aimed at delivering affordable housing to Papua New Guineans combined with a number of public and private sector projects which will continue to bolster PNG’s economic growth. What result will these factors have on the property market? Will 2015 be the year of the affordable home for the average Papua New Guinean?To answer these questions, Hausples.com.pg interviewed several major PNG real estate agents to garner their views on the market forecast for 2015. Read on to find out more. Hypothesis One: Drop in PricesAccording to Century 21 Siule Real Estate’s Christian Arek, this year will see a drop in the real estate market.“I would say the real estate market would be dropping this year… [It] will continue to drop a bit initially and then eventually level off” predicted Arek.This is great news for the bulk of Papua New Guineans who are renting as this means a wider range of rentals that will fall within their budgets. From recent trends and surveys, it appears that high quality houses will still be able to be leased at a reasonably steady rental price while ordinary properties will be the most affected by price fluctuation.“[The market drop] presents a lot of options for tenants in the rental market because they have more to choose from in terms of budgets. Moreover, landlords are more willing to negotiate renting costs.” added Arek.As for those who are planning to sell their property this year, Arek stated that it’s uncertain as to what sellers should anticipate. Definitely buyers will be more motivated to purchase a house relying on the First Home Ownership Loan Scheme which increases the possibilities of making a big and important investment. Moreover, it seems that the Government is making steps toward a new project to give away Free Land Titles to ordinary PNG citizens which will give them a security to take a loan. However, ultimately sellers make the decision about whether to sell at a particular price so the market will once again be largely in their hands.DAC Real Estate’s property manager, James Beangke also anticipates that the real estate market will decline in 2015.“Generally speaking, the Government has settled [real estate] regulations and taxes but considering the ongoing PNG LNG Project, there will be a lot of people who will be able to spend in the market. Hopefully, this drop will pick up after March,” stated Beangke.In particular new affordable housing projects such as Duran Farm and Edai Town will slowly release large amounts of quality affordable housing onto the market at reasonable prices. This increased supply should mean price declines and relative bargains for purchasers. Hypothesis Two: Increase in PricesOn the other hand, LJ Hooker’s Gemma Mavo forecasted that real estate market prices will increase this year. Mavo, however, stated that this will only happen if there’s increased competition.“My view is that real estate prices will at best remain flat over 2015. However, I believe that it’s more likely that due to the various government initiatives and continued strength of the economy, competition will increase and this will have a tendency to increase both rental and sale prices”Mavo points out increased prices may particularly apply to properties for sale as strong rental demand will mean better returns for investors and therefore higher rental yields and prices.——————- With more real estate companies springing up, as well as the introduction of the First Home Ownership Loan Scheme and Free PNG Land Title Giveaway Trial, 2015 will certainly be an interesting for Papua New Guineans and might represent the best opportunity yet for ordinary citizens to secure a home. Stay informed about the latest news and the first home ownership loan scheme! To receive news and updates about Free Land Titles initiative and other programmes to help PNG home buyers, CLICK HERE to receive the Hausples.com.pg Newsletter.

As part of its promise to ease Papua New Guinea’s chronic land shortage the O’Neill government has announced a stunning plan to give away 2,000 free PNG land titles in every province of the country. 2014 was a positive year for potential PNG homeowners with the establishment of the First Home Ownership Loan Scheme (FHOS) to assist people to obtain a home loan at an attractive rate. Whilst the FHOS was a welcome initiative, the requirement that a borrower supply a land title as security for the loan has meant that many ordinary citizens have been unable to secure funding. Thus, as good as the FHOS is, it’s clear it was excluding a major portion of the population, in particular those families who did not own any land and, as a consequence, could not apply for a loan without being able to provide a security asset. Free PNG Land Titles will be given to ordinary citizens In 2015 the Government has identified the problem and has come up with a stunning solution that may change many lives and probably improve the economy and wealth of the country. According to the Planning Minister Charles Abel the Papua New Guinea Government will provide 2,000 free PNG land titles to citizens to build affordable houses in each of PNG’s provinces. The programme is aimed at working class people and not the wealthy. The pilot for this ambitious project will start in Port Moresby where Mr Abel says the government has identified land close to Jackson International Airport which the National Airport Corporation has committed to being made available. Following the Port Moresby pilot allocation, the city of Lae will have 2000 titles made available near the Nadzab airport. Free PNG Land Titles will lead to Housing The free land title allocation forms one part of a broader scheme where every single one of the 89 districts in the country would receive approximately K1 million to construct 10 houses for the local public servants. Mr. Able said, “We are giving every district K1 million to build public service housing.” The idea is to start the project first by providing housing for public servants. Once this has been completed, the next step will be to extend the project into the private sector. Mr. Abel, who serves as the chairman of the Ministerial Committee on Affordable Land and Housing, emphasized that the purpose of this initiative was to help average working class citizens and Papua New Guinea build homes. Its focus was not to give additional land to well-off individuals who are already homeowners and who can easily apply for a loan. PNG Land Titles will secure citizens to access the First Home Ownership Scheme Prime Minister Peter O’Neill has taken the first steps in getting this program up and running by depositing K200 million into the Bank of South Pacific to support the FHOS. The next step is to distribute the free PNG land titles to the population so that they can provide a security for receiving a loan and eventually build a house. Prime Minister O’Neill realizes that several steps must be followed to get the free PNG land titles into the hands of ordinary people. Once this has happened, ordinary citizens can go to the banks and secure a loan because they have their title as security. The project is expected to provide the citizens of Papua New Guinea the ability to purchase a home for K150,000 and repay the loan over 40 years with a very low rate of interest. Stay informed about this programme and the first home ownership loan scheme!To receive news and updates about Free Land Titles initiative and other programmes to help PNG home buyers, CLICK HERE to receive the Hausples.com.pg Newsletter.

Well it’s come to that time of the year again where we’re all called to care and share more. As exciting as the festive season may be, it doesn’t come quite cheaply. But before you get all worked up into a frenzy about digging deeper into your pockets, Bank South Pacific (BSP) is here to save the day with its products focus of the month. That is, the Personal Loan and the Savings Secured Loan (SSL). BSP’s two products are beneficial during this time of merriments as they offer Papua New Guineans a chance to save while at the same time splurge. Be it giving your loved one a thoughtful gift or organising a memorable trip for your family this Christmas, the Savings Secured Loan and Personal Loan have got you covered. These two products have different features but what sets them apart from other loans is that they have been developed to assist Papua New Guineans in saving. BSP Savings Secured LoanThe notion behind the Savings Secured Loan is to secure one’s nest egg by borrowing against it. For example, let’s say you have been putting aside money into your savings account but then an urgent family emergency arises. You don’t have any cash on hand except the kina in your savings account. Instead of going straight to the bank and withdrawing all that money, you can acquire a loan that is twice the amount of your savings. Your savings will then be used as collateral during the period of the loan. As an example, if have saved K 600 and would like to obtain a loan under the Savings Secured Loan, you would then be eligible for a loan of K 1,200.The beauty about the loan is that you can earn a higher interest while paying off the loan at a sound rate. Other benefits of it include a quick turnaround time, fast disbursement, a competitive interest rate and same day approval of 24 hours. As for the requirements to apply for the a Savings Secured Loan, it is quite simple really. You would need to be a BSP customer with a regular income who’s displayed a savings pattern over a period of time in either a BSP Kundu or Plus Savers accounts.Now that we have established the gist of the savings secured loan, you’re probably thinking that it does not get any better than this. Well, you would be wrong because the Personal Loan is also a cause for celebration! BSP Personal LoanBSP’s Personal Loan is pretty much self-explanatory. Basically, you can get a loan for whatever personal reasons you may have. Whether you need to purchase a headstone for a relative who’s passed away or you need to lend financial assistance to a bride price, the Personal Loan will be of great aid to you. Apart from its flexibility of purpose, the Personal Loan requires minimal documentation and no security whatsoever.The plus side of the Personal Loan is that it does not call for security. Therefore, you do not need to provide any collateral. Like the Savings Secured Loan, the Personal Loan’s eligibility criteria are verified by BSP depending on an applicant’s income, credit history (in terms of any other loans acquired by the applicant) and repayment history. As far as any other loans offered out there, BSP’s Personal Loan and Savings Secure Loans are trump cards. So if you’re concerned about saving a lot of Kina but do not want to touch your savings this festive season then head on out to your nearest BSP branch!Copyright Hausples.com.pg, article by Pauline Mago-King

The spread of settlements continue to be an issue for those who dwell within major cities like Port Moresby. To many, they are treated with caution and labelled as an eyesore. However, what many of us continue to overlook is the fact that settlements accommodate countless Papua New Guineans who cannot afford to rent or buy properties of their own.One such group of people who are to this day still being compelled to live in settlements is the public servants of Papua New Guinea (PNG). It may come as a surprise as to how numerous public servants have resorted to living in such illegal “establishments”.Yet this is the blatant reality of PNG’s recurring affordable housing challenge where almost if not all Papua New Guineans are not able to meet the PNG Real Estate Industry’s accommodation rates. The rates at which properties are put up for lease or sale are ludicrous to the extent where the fortnightly salary of an ordinary Papua New Guinean cannot cater for half the cost of renting. Hence, a myriad of Papua New Guineans are left with no other alternative but to live in settlements. PNG Public Servants and National Housing Estates Limited affordable housing initiativesAccording to Wera Dirua, the Estates Manager of the National Housing Estates Limited (NHEL), the high rental prices are forcing many public servants live in settlements. “It’s very difficult now to find affordable accommodation because the ICCC cannot control the real estate market…”  explained Dirua.The NHEL, a subsidiary of the National Housing Corporation (NHC), is starting to tackle PNG’s chronic housing problem via its plans of upgrading and building living quarters for the multitude of public servants struggling to find accommodation.“Most of them [public servants] are going back to the squatter settlements and we are trying to address this. We believe that public servants are a government entity who drives the economy of our country. They must have a good place to sleep, eat and find comfort so that they are more productive. That is why our company [NHEL] is focused on making housing more affordable for Papua New Guineans in the next 20 to 30 years,” said Dirua. Dirua, however, mentioned that PNG’s dilemma of lack of housing will not be solved overnight. Rather, it will take time and the availability of resources and funding to alleviate the issue. Dirua stated that it’s the NHEL’s main aim to build 10, 000 houses in the next 5 years so that people in need will be able to move out from squatter settlements and he remains adamant that the NHEL will achieve its primary objective of creating more housing. Duran Farm, Edai Town and the First Home Ownership SchemeIn a sign that both the public and private sectors are starting to tackle PNG’s affordable housing shortage head-on, a number of significant initiatives have been launched this year including the Duran Farm Housing Development near Lae, the Edai Town Development in Port Moresby and the PNG First Home Ownership Scheme Loans.For NHEL’s part, the launching of the Duran Farm Housing Development, a major housing master plan that’s worth K7 million, is step toward alleviating some of the settlements near Lae. In addition, the housing development at Edai Town approximately 20 kilometres form Port Moresby offers moderately prices homes starting at K168,000.Still Diru warns that should nothing be done to combat PNG’s housing settlement issue, this could lead to even more squatters settlements. “People are struggling to live especially in a city like Port Moresby that is becoming the centre of PNG. It’s developing at a fast rate due to the LNG and other projects. If we don’t do anything now, squatters settlements will pop up like mushrooms all over the place.” In all though, Dirua is optimistic that the NHEL will be able to turn things around for PNG’s housing industry so that Papua New Guineans can enjoy their right to a decent yet affordable home. Register your interest in affordable housing now!If you want to be kept informed of new affordable housing initiatives in PNG Click Here and submit your details. If you want to register your interest in the PNG First Home Ownership Loan Scheme Click Here.  Copyright Hausples.com.pg, article by Pauline Mago-King

Papua New Guinea’s economy has been growing consecutively for ten years providing the entire country with new housing projects, roads development and better access to critical infrastructure such as power. As of today this positive trend seems likely to continue with the development of a new and much bigger international Airport at Nadzab near Lae.  The new Nadzab international airport will dramatically increase PNG’s international exposure and will effectively become the new ‘Airport City’ of Papua New Guinea. The announcement of the new airport came directly from the Minister for Public Enterprises and State Investments Ben Micah whose goal is to make Nadzab an international airport by the end of 2016. The first flight connections will directly link Nadzab to Australia and Japan by the second quarter of 2016 making Nazdab an important departure point for Papua New Guineans travelling abroad. The Minister also announced that the project also aims to capture even more international traffic and as such is negotiating with the Chinese Government to have direct flights from Nadzab and Port Moresby airports to Beijing, China. In addition, Mr. Micah announced the construction of a highway to link Lae with Nadzab. Considering Nadzab is only 42 Km from Lae, the project will provide a four lane highway to be completed by China Railway International by the end of 2017. This will definitely ease the connection between the two cities who will mutually benefit from the highway and will also allow the transportation of materials from Lae to the airport. Mr. Micah added that with the construction of the railway from Lae to Ramu Valley for the transportation of containers and additional shipments, the plan is to transform Lae into a port city and industrial hub for moving materials to nearby Nadzab. It seems that major changes will continue to occur over the next few years changing the perception of Papua New Guinea and giving to the country an international presence thanks to this fantastic new initiative. Not only will this project allow for increased access to Asia for Papua New Guineans (and vice versa for Asians travelling to PNG), it will also spur new housing projects, jobs and infrastructure all of which is needed to continue Papua New Guinea’s economic and social growth. Keep reading the Hausples.com.pg New Blog to stay up to date with PNG real estate and housing markets.

Threats that can end our dreams are all around us – but they can and should be planned for and avoided. On the night of the 24th October this year, fire ravaged the Mt Hagen trade center causing millions of Kina of damage. Lae has also seen many homes, businesses and lives destroyed by intense heat and flames – only to be reduced to ashes. These losses are occurring countrywide and right throughout the year. Every year. And this is damage caused only by fire – one of many risks here in PNG. Accidents, theft, extreme weather events, loss of income or business, the cost of medical problems – these are all risks that can impose deep hardship and financial ruin. You can and should take control. These risks can and all too often do destroy the greatest investments we make in our lives. It is up to each of us to take advice from experts and manage these risks. They will help to identify where risk exists, quantify and analyse its aspects and components and help to develop risk response strategies providing the best insurance plan. Also, monitoring these risks continuously to determine how they change over time is greatly important.  These are all concrete steps you can take to protect your greatest investments. Lives, homes, businesses and vehicles – invested and protected.  Papua New Guineans are increasingly active in business as the country’s formal economy continues to expand and it is up to each and every one of us to take steps to protect what belongs to our families for the future. Like a breath of fresh air, Trans Pacific Assurance Limited are reviving the insurance industry in PNG since their opening on the 29th April 2014.  And now it is the public of Papua New Guinea who can reap the benefits by relying on the efficient and effective insurance expertise on offer. After all, the tremendous personal benefit gained through understanding and using insurance products is still not understood by too many – all this is set to change with the arrival of TPAL – experts at managing risk. Trans Pacific Assurance Limited is located on the 3rd floor of Defens Haus, Downtown Port Moresby. They provide general insurance products such as motor, business, medical and home insurance products.  Professional risk management services are delivered by a team of highly skilled professionals who continually showcase their dedication to the all-important customer providing that “extra mile” service across the whole of PNG. Call TPAL today to make sure you protect your part of PNG’s economic prosperity. The wealth of the nation is improved when each of us does well – we all benefit because there are more jobs and more money and more customers and more sales. To fail to protect our investments in businesses and homes and vehicles is to risk the wealth of us all. Copyright Hausples.com.pg

Landlords will be subject to tighter controls and scrutiny as part of the Papua New Guinea Government’s 2015 Budget. Due to concerns about landlords not declaring rental income to the PNG Internal Revenue Commission, PNG landlords will be required to register with a Taxation Identification Number (TIN) so that their leases will be validly recognised.Given the relative lack of regulation of PNG’s real estate market, the move by the Government to require landlords to supply a TIN is significant. The new legislation will mandate that landlords provide a valid TIN on lease documentation in order for the IRC to properly identify potential tax payable when stamp duty processing occurs.The IRC intends to cross reference stamp duty lease data against the IRC’s records of TIN lease data to better identify landlords that do not declare rental income. This strategy is forecast to generate K15 million in additional tax revenue for the forthcoming financial year alone. Landlords not presently registered with the IRC should register with a TIN prior to July 2015 in order to ensure existing and new property leases are deemed as valid. Click Here to view / download the IRC Taxation Identification Number (TIN) Application Form What do you think of this initiative? Do PNG landlords currently pay enough tax?

In light of Papua New Guinea’s dilemma of housing shortage, the National Housing Corporation (NHC) recently launched a social housing program called the Duran Farm. The Duran Farm project is the NHC’s pragmatic step towards curbing the lingering lack in housing for public servants and residents. NHC’s great initiative would mean that the bulk of Papua New Guineans forced to live in settlements and second-rate housings will not have to settle for less any longer. A major housing master plan that is worth K7 million, Duran Farm is located on Portion 528 near 8 Mile which is just outside of Port Moresby. It is expected to deliver 2500 houses yearly per contractor. Apart from the construction of these houses, there will also be the creation of various amenities like schools, clinics, hotels, shops, banks and a fire station. Duran Farm is the first urban development lease where underdeveloped land will be completely obtained by the NHC and the Housing Department. Furthermore, what makes it even more unique is that the total cost of development will not be incurred by the end user. Not only is Duran Farm a beacon for countless Papua New Guineans struggling to find affordable accommodation but it is also an indicator of housing development finally reaching Papua New Guinea’s shores.  Construction of Duran Farm is set to commence once a tender notice is posted by the Central Supplies and Tender Board. So far there are 106 successful applicants who have been submitted to the National Development Bank (NDB). Although Duran Farm will bring about housing development for Papua New Guinea, it will not ultimately alleviate the NHC’s current predicament of finding means to accommodate public servants. Since most of Papua New Guinean land is customarily owned, this poses a problem for any form of housing development like Duran Farm. Being located on land that is customarily owned, Duran Farm project is already facing threats from the landowner. Landowner, Ogoni Dabunari Land Group of Baruni Village has already warned that the multimillion project will not progress if it is not sufficiently compensated. As a result of this, it is important that the Government insure that housing development is carried out on land without any customary ties, preferably State land. Yet this is not the case for Duran Farm and so it is up to the Government to ensure that it proceeds without any hiccups as the project has drawn a lot of interests from both the private and public sectors. Copyright Hausples.com.pg, article by Pauline Mago-KingFollow Hausples.com.pg to read more news!

Is Madang your next home?For anyone who isn’t a huge fan of the bright city lights or its concrete jungles, then Madang Province is most definitely the ideal place for you to consider settling. From its lush green vegetation right down to its friendly people, Madang Province’s relaxing tropical atmosphere provides a great option for potential home buyers to consider. If you are shopping for a home, Madang real estate should be on your to consider – the following is the Hausples.com.pg guide to the province of Madang. Madang province comprises of six districts namely Bogia, Upper Ramu, Middle Ramu, Lower Rai Coast and Sumkar with the provincial capital being Madang. It is most renowned for its impressive coast where stunning reef-fringed lowlands and coral gardens dwell.Madang Province is also steeped in history with 34 sunken ship sites at Hansa Bay as a result of its coast being the heart of intense fighting during World War II. These sites along with the reef-fringed lowlands are a hit among divers the world over. Moreover, islands like Kranket and Siar are perfect for swimming while Madang’s bottomless cerulean water harbor provides ships with an excellent area to berth.Other attractions of the province include its quite harsh mountains, waterways as well volcanic islands like Manam and Karkar. Put quite simply, Madang has the makings of a holiday destination for anyone planning to reside in the province.Its township has been described as the “paradise of the South Pacific” and its intriguing panorama of flora and fauna proves that it most certainly is. Although the province’s districts may be scattered, Madang’s township is more concentrated. The quaint little town offers convenience for those residing along the borders of the town as amenities are either located close by to one another or in a plaza.Such amenities cover department stores, banks, post office, vegetable markets and supermarkets and because they are all within walking distance of one another, one can never get lost. Urban facilities like Andersons Supermarket and BSP Bank ensure that expatriates are within reach of products and services like those in their country of citizenship. Surrounding the town are hotels that not only lodge for the generous numbers of tourists visiting Madang annually, but also present fine culinary meals for those wishing to wine and dine.In terms of housing, real estate in Madang real estate is mostly owned by private businesses, churches and individuals who lease out property to tenants or clients. These leases are made under private arrangements rather than through real estate agents. Otherwise, there are three major real estate companies that lead the real estate market in Madang Province. They are namely Ela Real Estate, Rookes Marine Real Estate and Professionals Real Estate.The town is home to many antiquated pre-colonial houses that are located in the suburb of Kalibobo as well as at Kina Beach and New Town. At the same time, the town is bursting with the development of new properties and amenities.As for education, there are a range of both government-run and private schools that are located within the proximity of the town itself. Such private schools include Madang International and Madang Christian Academy. For health check-ups or medical attention, Natu Private Clinic and Modilon General Hospital are Madang’s only hospitals. Should one wish to travel to other provinces in PNG, the airport is situated just 20 minutes outside of Madang town.Security-wise, Madang is a rather safe province to live in. Like other provinces in PNG, safety all goes back to one’s knowledge of which places are safe to venture.In all, the province of Madang and in particular its township, is an idyllic area to reside in. With conveniently located amenities and a range of leisure activities to do and places to see, Madang screams hospitality. All potential property buyers should include Madang as part of their search for real estate in PNG. Guide to Madang amenities: SupermarketsAndersons SupermarketJ & Z SupermarketPapindo SupermarketMartin Tsen Madang Real Estate AgentsEla Real EstateRookes MarineProfessionals Real Estate BanksWestpacANZBank South PacificPNG Microfinance Department StoresBrian BellCourtsBeckslea PlazaSteamships Hardware StoreEla Group of Companies Hotels/LodgesMadang LodgeMadang Star HotelMadang Resort HotelCoastwatchers HotelJais Aben ResortSmugglers Inn SchoolsMadang Christian AcademyMadang InternationalKalibobo InternationalNatu Playschool HospitalsNatu Private ClinicModilon General HospitalYagaum Hospital (run by Lutheran Church) OthersDHLGlobal Travel AgencyDiwai Pacific ConsultancyBudget Hire Cars Article by By Pauline Mago-King copyright Hausples Ltd

First Home Ownership Scheme Loans Formally Announced by BSPThe Bank of South Pacific in conjunction with the Government of Papua New Guinea (the “State”) have formally signed an agreement to make First Home Ownership Scheme Loans (FHOS) available.Following an initial announcement in May this year, the scheme is a direct response by the State to PNG’s chronic shortage of “quality and affordable housing”. In particular, the State has recognised the fundamental impact this crisis is having on the lives of many Papua New Guineans, particularly in the larger cities of Port Moresby and Lae. Whilst benefits will also flow regional areas which are  experiencing significant rises in the cost of houses and other accommodation.BSP Group CEO Robin Fleming said of the scheme “BSP believes that home ownership is a means for ordinary Papua New Guineans to establish an asset base that can be passed onto their children.  So it is with pleasure that we here today with the Prime Minister to announce this joint initiative, the First Home Ownership Scheme,”. Key details of the FHOSEligible borrowers will have access to heavily discounted interest rate and preferential loan terms. Below are the key terms of the FHOS. Commercial terms of the loan:Maximum loan amount of K400,0004% fixed rate of interestUp to 40 year loan term Analysis – is the First Home Ownership Scheme Loan for you?For home buyers eligible for the Scheme, the loans terms are very favourable when compared with standard home loan terms.The following is a comparison of the commercial terms of the FHOS versus a typical home loan from one of the major commercial banks in PNG such as BSP or ANZ:4% fixed interest VS current interest rates of approx 8.45% – 9%40 years for repayment VS typical repayment terms of a maximum of 30 yearsOn the basis of the above, the First Home Ownership Loans provide a large incentive for people searching for their first home to buy in PNG .However, borrowers should be aware that the First Home Ownership Scheme Loans are still a commercial arrangement between the borrower and BSP, and are not a form of grant, tax break or other concession by the Government. As such, borrowers will still be expected meet their loan obligations. Reaction from the real estate industryThe PNG real estate industry and in particular real estate agents and property developers have welcomed the launch of the First Home Ownership Scheme Loans. The Port Moresby real estate market in particular has experienced somewhat flat growth over the past few months and agents are expecting this initiative to drive increased interest in houses in the K200,000 to K700,000 range.Similarly, the scheme bodes very well for large scale housing developments such as the housing development at Edai Town in the National Capital District. Edai Town has a range of accommodation options starting at K280,000 for townhouses and ranging up to K498,000+ for freestanding houses; this places the project squarely within the reach of those considering the FHOS. The official launch First Home Ownership Loan Scheme is expected to see a flood of interest for this project and others similar to it throughout PNG. Want more information?To be informed about the full details of the FHOS when it becomes available click below. Provide your details to receive more information!And to see properties between K100,000 – K500,000 Click Here and happy house hunting!

DAC Real Estate’s New WebsiteCongratulations DAC Real Estate!The Hausples.com.pg Team offers its warm congratulations to DAC Real Estate on their new website design. For those who do not know, Hausples.com.pg is not just a real estate portal. In fact, we offer comprehensive real estate website design services and we have been working with the Management Team at DAC over a number of months to modernise and improve their website. Led by CEO Brian Byer, Hausples has undertaken a significant modernisation and improvements to the DAC Real Estate website. The following is a list of just some of the work:Improve rental and sale property listings: Listing now feature more photos, Google map intergration, print property feature, social media sharing and much more!Rental Property and Sales Property lists: Rentals and sales lists are now available for download right from the homepage of the DAC Real Estate Website.Instant Property Alert Registration: Port Moresby buyers and renters can now register for instant email property alerts as soon as DAC Real Estate Lists a home or apartment matching their criteria.A state of the art real estate customer relationship management system (CRM): A behind the scenes software programme that allows DAC Real Estate to manage buyers, sellers, landlord and tenants all from one system. Clients of DAC will notice improved email correspondence and new e marketing materials. We are thrilled to report that customer and agent response to the website has been extremely positive. Are you a PNG real estate agent & seeking an edge?Hausples.com.pg offers a full suite of online solutions for real estate agents across Papua New Guinea. Our solutions are used by some of Port Moresby and Lae’s best agents including:DAC Real EstateCentury 21 SiuleStrickland Real EstateBudget Real Estate Our unique real estate agent only technology will not only give you a brilliant website, but also allow you to take advantage of cutting edge technology. Our packages and solutions include:Zero upfront cost packages!Super fast website design and implementation.A dedicated real estate CRM system that allows you to manage your business more efficiently and profitably.Mobile sites.Social Media integration.Full electronic marketing campaigns. Plus we support our offering with comprehensive Port Moresby and Lae based training and support.To find out more visit the dedicated Hausples PNG Real Estate Agent Site or contact our CEO Brian Byer:E: [email protected]: +675 7129 9530

BSP Major Sponsors of Hausples.com.pgHausples is incredibly excited to announce that the Bank of South Pacific (BSP) has become the major website sponsor and partner of Hausples.com.pg.Hausples CEO Brian Byer explains the logic behind the partnership “BSP are a natural fit for the Hausples community. Our buyers and renters already likely utilise BSP services and this partnership will allow them to access important financial literacy information and relevant offers”. Under the arrangement BSP will gain exposure via the Hausples.com.pg website and both parties will work together to provide relevant financial information about buying or renting a home. “Hausples.com.pg allows people to access available housing more easily and quickly, and BSP supports initiatives such as this. Whether you are seeking to buy or rent a home, the financial considerations are significant and BSP can provide advice and services to help people achieve their goals” explains BSP Head of Marketing & Public Relations Julie Fraser. In addition to bolstering the Hausples.com.pg offering to website users, the BSP partnership will allow the site to expand to cover more homes for rent and sale “We are a free website for our users and sponsorships such as this are critical to allow us to engage with more real estate agents. By boosting our engagement with agents throughout PNG, we will be able to list more properties for rent and sale which is exactly what our users want.” said Brian Byer. The partnership has also been welcomed by the real estate agents that utilise the services of Hausples.com.pg “Hausples is helping us achieve excellent outcomes for our customers and we are very happy to see their strategic alliance with one of PNG’s most respected brands – BSP” said Century 21 Suile Executive Chairman Brian Hull. It’s exciting times for both the renting and buying public in PNG and Hausples.com.pg CEO Brian Byer says more important announcements are imminent “Our team is always looking for ways to improve our value proposition to our users. This announcement is part of a range of initiatives that we will announce in the weeks and months to come”.Click Here to read the full media release from BSP.For more information regarding this announcement please Contact Us.

Hausples.com.pg welcomes the Professionals PNG!Hausples.com.pg is extremely excited to announce that the Professionals PNG have joined the list of agencies contributing listings to our website. The Professionals join our ever-growing number of highly reputable real estate agencies.A brief  background of the Professionals PNGThe Professionals Real Estate Group was formed in 1988 by leading figures of the Papua New Guinea real estate market. It is currently run by the individuals offices that have come together to create the Group.Since its founding in 1988, The Professionals has expanded to become one of the largest real estate businesses in Papua New Guinea, office locations include:LaePort MoresbyMaddingMt HagenTogether with individual real estate agents available to clients in the areas of Goroko, Rebaul and Wewak.The group operates under a federated style structure with the master franchisors in the country being controlled by industry veterans Mike Quinn, Karen Quinn and Murray FletcherProfessionals Real Estate Group in Papua New Guinea provides comprehensive services for clients, including but not limited to those that are typically provided by real estate agents.These services include:Property Sales and ManagementProperty AuctionsValuations of PropertyProperty Rentals and ServicesProfessional Property ConsultationProfessionals Real Estate Group has more than just tenure underneath its belt; it is a proud cornerstone member of the Real Estate Industry Association with standards that meet and excel those set forth by the Code of Ethics maintained by the Professionals Real Estate Group and the Real Estate Industry Association.Professionals Offices in Papua New Guinea are currently licenced through the Professionals Group Council located in Australia. Their activities in Papua New Guinea and their continued operations are overseen by the Professionals real estate office in Lae.More information can be found by visiting the Professionals PNG website.  Contact information for the Professionals PNGContact information can be found on the Hausples Real Estate Agent Directory or below: Professionals Lae Real EstatePO Box 4000,Lae, 411, Morobe ProvincePapua New GuineaPhone Number:+675 4725144Fax Number:+675 4725141Professionals NCD Real EstatePO Box 533,Gordons, Port Moresby, NCDPapua New GuineaPhone Number:+675 323 6041Fax Number:+675 323 6042Professionals Goroka Real EstatePO Box 335,Goroka, 441, Eastern Highlands ProvincePapua New GuineaPhone Number:+675 7321765Fax Number:+675 7322601Professionals Western Highlands Real EstatePO Box 570,Mt Hagen, 281, Western Highlands ProvincePapua New GuineaPhone Number:+675 5420017Fax Number:+675 5423007Professionals Madang Real EstatePO Box 538,Madang, 511, Madang ProvincePapua New GuineaPhone Number:+675 8522738Fax Number:+675 8522535

Hausples.com.pg now welcomes Pacific Comfort Real Estate to our websitePacific Comfort is a Port Moresby based agency located conveniently in Waigani Drive, 4-Mile, NCD. Readers of the Post Courier will be familiar with Pacific Comfort’s regular advertising in the real estate section. The business specialises in residential sales and rentals, whilst also carrying a stock of land for sale. As of today Pacific Comfort has a total of 36 properties listed for rent and sale:29 homes and apartments for sale starting from K400,000 and ranging up to high end property for K4,000,0007 homes and apartments for rent from and townhouses for rent K700 per week up to K1,500 per week In geographic terms, this agency features a range of property for sale in locations all over Port Moresby, in particular Gordons, 9 Mile, Waigani and Rainbow Estate.So what is the property for sale at K4,000,000 you ask? Well it’s an entire block of 6 apartments in Korobosea. All with 2 bedrooms, 24 hr security and all fully rented. A stunning investment opportunity – Click Here to see the listing. Click to see all of Pacific Comfort’s rental listings and sales listings. The staff at Pacific Comfort are busy taking photos of all their listings right now and these will be added soon.Call Pacific Comfort now for all of your real estate needs:  +675 7160 3929. Also visit Pacific Comforts PNGYP listing Here.

Hausples.com.pg welcomes PNG Real Estate! PNG Real Estate is run by long time Port Moresby real estate veteran James Maipson. This leading agency offers a full range of services including:Home and apartments sales and rentalsLand sale and rentalsCommercial real estate sales and rentalsPresently the agency has a wide range of 2, 3 and 4 bedroom apartments available for rental in the heart of the Port Moresby CBD. In addition, the company has two nice town houses in Touguba Hill with spectacular views and amenities such as a pool; perfect for executive accommodation.PNG Real Estate is located in Kwila St Hohola, NCD and CEO James Maipson can be contacted on +675 7218 8778 for all of your real estate needs.Click Here to see all rental listingsClick Here to all sales listings