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