Property market needs to be understood


THE property market needs to be understood better through more detailed surveys, according to Niugini Lands and Properties managing director Dr Lindsay Kutan.
“This survey is aimed at understanding property buyer preferences in Papua New Guinea,” Dr Kutan said
“It is limited to an online survey hence only those with access to internet could participate.
“The main purpose of the survey is to understand the home buyers perception and preferences in investing in a property.”
Information on the property market is vital and should be accessible to allow for conducive development of the market and to mitigate unfavorable conditions within it, Kutan said.
“Information gathered from this survey should be useful for those in the property industry such as property developers and commercial banks,” Kutan said.
While the survey results from this survey are instructive, it raises many issues that can only be addressed through a repeat of the survey.
“Hence, NLP plans to repeat the survey towards the end of this year.
“Going forward, the survey will be conducted on an annual basis. Finally, focused surveys targeting specific questions of interest to different stakeholders will also be administered using the established survey methods,” he said.
NLP plans to carry out annual surveys on the property market for the mutual benefit of home buyers and property developers according to Dr Kutan.

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