Encouraging to see more local home owners: Director

EDAI Town outside Port Moresby is home to 300 families and around 1,500 people – and it is still developing.
Edai Town Development Ltd director Kym Yong said it was encouraging to see more locals owning homes.
In December 2018, there were about 200 families with 1,000 residents.
“It is interesting to note that increased demand is now in the mid-range market,” Yong said.
“This may be due to the fact that following international travel restrictions arising from the coronavirus (Covid-19) pandemic, many employment positions have been localised and are now occupied by Papua New Guineans.
“Employers are providing attractive employment terms that include housing benefits and, thus, increase in housing demand.”
Yong said they were completing phase 2A-3 of Edai Centro, the first of three gate-guarded community lifestyle housing estates in Edai Town.
“We are preparing to launch in the fourth quarter of this year the 190 units left as phase 3 of Edai Centro, Yong said.
“Our other two housing estates will be Edai East and Edai West.”
Prices for land and building start from K398,000 for an intermediate three-bedroom furnished double-storey townhouse to K938,100 for a modern double-storey four bedroom standalone detached house on large land area (around 600 square metres).
“Our furnished mid-range double-storey three-bedroom duplex homes (with side garden) are just under K500,000,” Yong said.