Papua New Guinea Real Estate Sector Research Highlights

Interview

Brian Hull, Executive Chairman, Century 21 Siule: Interview
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Interview:Brian Hull What has been the impact of government policies on the local real estate sector? BRIAN HULL: The first homeowner scheme, which has been handed over to Bank South Pacific, has had a significant effect on the real estate market. Under this scheme, people can apply for a loan of up to PGK400,000 ($118,000) at 4% interest for 40 years, with the borrower putting up 10% equity.…

Overview

What is driving construction activity in Papua New Guinea?
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Papua New Guinea’s construction sector is closely tied to its extractive industries. This is in part due to the substantial contribution of extractives to the country’s economy, accounting for around 28% of GDP in 2019. The performance of extractives also dictates access to foreign exchange (forex), with the segment representing roughly 94% of exports that same year. PNG’s construction…

Overview

How Papua New Guinea is working to bridge the housing gap
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Boosting the supply of affordable housing is central to efforts aimed at improving the lives of citizens in Papua New Guinea. Housing availability has become an increasingly pressing issue in recent years, especially as real estate prices for both renters and buyers have been driven up by the limited availability of land for development and the high cost of construction. The government of Prime…

Analysis

What is Papua New Guinea doing to reform land ownership?
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Accelerating land reform has been a key priority in enabling socio-economic progress in Papua New Guinea, and several development programmes have been put in place to this end. Since being elected in 2019, Prime Minister James Marape and his administration have placed a particular focus on mobilising large areas of customary land for development, while also emphasising the empowerment of customary…

Chapter

The Report: Papua New Guinea 2020: Construction & Real Estate
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The government has demonstrated notable early enthusiasm to boost the ease and transparency of land ownership processes, which should stimulate activity in the construction sector. Recent years have seen the industry hindered by vulnerability to foreign currency shortages, limited availability of land for development, a lack of transparency and insufficient human capital. Ongoing efforts to improve…

Country Report

The Report: Papua New Guinea 2020
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The government of Papua New Guinea faces some challenges in 2020, with the electorate calling for improvements to social and economic infrastructure, and greater efforts to combat both real and perceived corruption. Despite these difficulties, PNG’s resource wealth and strategic location between the industrial centres of north-east Asia, the rising economies of the Association of South-east Asia

Country Report

The Report: Papua New Guinea 2019
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Papua New Guinea has seen a mixed performance over the last 12 months, with the extractive industries recovering from the impact of the 2018 earthquake, while political uncertainty contributed to fluctuating investor confidence. It remains to be seen to what extent Prime Minister James Marape and his recently reshuffled government will enact far-reaching reforms to laws and regulations governing t

Overview

City planners strive to create efficient spaces as urban populations swell around the world
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In 2008, for the first time in history, more than half of humanity was living in urban areas. Perhaps the most remarkable observation about this trend is the speed at which it has happened: as recently as 1900 urban areas accounted for 13% of the global population. Towns and cities are seen as the crucibles of opportunity for many rural dwellers. The UN estimates that by 2030 urban areas will…

Overview

Planners strive to create efficient spaces amid rapid urban population growth worldwide
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Interview

Matthew Lewis, Managing Director, Hornibrook NGI: Interview
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Interview: Matthew Lewis, Managing Director, Hornibrook NGI How would you characterise the outlook for Papua New Guinea’s construction sector in 2018? MATTHEW LEWIS: The year of 2017 was somewhat below average; the main challenge came from the shortage of foreign currency, which limited many companies from importing their materials from abroad. Events like the South Pacific Games drove growth for…

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Papua New Guinea Real Estate Sector Research Highlights

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