Most survey respondents say 2017 was good time to buy houses

MOST of the respondents in the 2017 PNG Real Estate Survey felt that last year was a good time to make a property purchase.
This was highlighted in a statement released by Hausples, a real estate company, yesterday when announcing the start of 2018 PNG Real Estate Survey.
The inaugural survey was made last year by Hausples.com.pg and revealed important information regarding real estate industry trends, areas of demand and future market predictions.
General manager Tom Snelling said the feedback from last year’s survey was encouraging and boded well for the real estate and financial services sectors, as well as the PNG economy more broadly.
“Though prices were perceived as high in 2017, the majority of respondents felt that it was a good time to make a property purchase,” he said.
“Conversely, 13.07 per cent of people believed it was a better time to selling a home.
“We are very curious to understand what people perceive now compared to when they completed survey in 2017.”
The survey also revealed that many working-class Papua New Guineans intend to invest in their own properties.
“Despite the long-time prevalence of customary land ownership stretching back to the pre-colonial era, working-class Papua New Guineans are beginning to understand the value that homeownership brings to their families,” it said.
Property prices, security and close proximity to public transport and services continued to play a big part in influencing the decisions of prospective buyers.