Whether you’re in the market to buy or sell a property, timing is everything. And with timing comes knowing exactly if it’s a buyer’s market or a seller’s market. These terms also signify the present condition of the market.For instance, a buyer’s market means it’s a good time to buy property, while a seller’s market justifies a good time to sell a property. With this understanding, a buyer in search of a property will know when to start looking for properties on sale and, likewise, a seller will know when to put his or her property on the market.Let’s consider a few factors that can help us determine a buyer’s market from a seller’s market, or vice versa. Buyer’s MarketAs the name implies, a buyer’s market is when market conditions are in favor of buyers, and that can mean a number of things:  1. Buyer has the advantageA buyer’s market is the wading pool of a buyer, and the buyer is king. The buyer sets the standard, dictates the terms and conditions of a transaction, and decides on the best deal among a host of other viable deals. The seller, often competing for buyers, is less likely to reject a below-par offering from the buyer.  2. More homes to look atThe regular trend in a buyer’s market is supply usually transcends demand. More homes means more options for buyers to consider before negotiating a deal/offer. Most often than not, a property may sit on the market longer than originally intended. 3. No competitionBecause supply exceeds demand in a buyer’s market, competing for ownership is quite rare. Buyers are not in a hurry to secure a home since they have a variety to choose from, even vague is the threat of missing out on the best deal. Again, competition is infrequent. 4. Few offersWith few buyers to go around, offers align with the number of active buyers in the market. And in a buyer’s market, few offers equate to a decline in both sales and prices, and sometimes way less than desirable for the seller. Remember, the buyer is king in a buyer’s market. 5. Amplifying properties to sellBecause the availability of houses for sale is greater than the demand, the dogma to be different than the rest is high among sellers. Touch ups here or there are apparent across each and every property impression, in order to evoke a successful sale. Sellers understand that standing out from the crowd can work wonders. 6. Fear The fear that a deal may not be brokered as expected, or that one’s spouse may not approve of a property purchase, and what have you, is customary. In a buyer’s market, fear of this sort is usually high. But what we should understand is that, depending on how it is used, fear can be an effective tool in decision making, come time to broker a deal for a real estate transaction. In contrast, if you allow fear to overwhelm you, you will miss a lot of excellent deals. 7. Property construction slows downReal estate builders know very well that once the market is flooded with properties, prices will drop as well as sales. This means little to no profit on behalf of the seller; thus, leading to a standstill. Seller’s MarketIn a seller’s market, expect everything to be completely opposite to a buyer’s market. The emergence of this market cycle means conditions are favorable for sellers.  This means: 1. Seller has the advantageJust like a buyer in a buyer’s market, here, the seller holds the trident. Sellers do the talking, not the buyers. Sellers have a greater leverage in negotiations and buyers have very little to show for. 2. Limited inventoryThe signature expression of a seller’s market is “demand exceeding supply”. What’s more, during this market cycle, buyers make-do with whatever the seller proposes. Limited supply, higher prices. That’s the bottom line. 3. Bidding warsUpon listing, sellers are prone to multiple offers and may have to choose an offer above what was actually listed. And this is how bidding wars erupt among buyers; hence, bidding prices up and up. 4. Upward shift in pricesThe less supply, the more demand, and an upward shift in prices. This is the accompanying trend in a seller’s market. Again, since there is a limited supply of properties on the market, buyers will be out in full to secure ownership, making it an ideal time for sellers to increase prices.Moreover, buyers don’t have much leverage in negotiations in a seller’s market, therefore, will have to deal with increasing housing prices. 5. Cash flow declineEveryone thinks that selling equals more money. In a sense, it is. But where time is of the essence, the ability to sell quickly can make or break a seller’s money-making potential. In real estate, the longer a house sits on the market, the more costly it becomes for the seller; hence, unnecessary stress on cash flow. 6. Higher pricesIronically, a price is to a demand what a remora is to a shark. When demands are up, prices go up. When demands drop, prices decline.Understandably, a seller’s market will have more buyers and few sellers. And since prices move hand-in-hand with demands, a seller’s market associates high sale prices with more demands. 7. Properties in poor conditionsProperties in dire conditions can be sold for a higher price in a seller’s market. Because of a limited supply, buyers competing for ownership tend to think their way round this variable, irrespective of the price and end up paying more for the home, anyway.  8. Builders are back in businessBuilders and developers in the business of real estate are at their prime when a seller’s market rolls around. They see the signs, they know what to expect, they know that profit is on the horizon when demands are high, so they begin constructing new homes as much as they possibly can. ConclusionUnderstanding the difference between both market conditions can help you come out on top of your situation, and this can be strongly attributed to what compelled you to the market in the first place. But above all, always remember that a buyer’s market affirms a good time to purchase property, while a seller’s market justifies the ideal time to sell property. In essence, keeping an eye out for market trends is key to determining which condition is eminent.

Most people find that their journey towards homeownership is often overwhelming and stressful. It’s the biggest financial decision they will ever make, as first home buyers. With more and more homes costing hundreds of thousands of kina, most of these first home buyers experience a lapse in their ability to pay cash upfront - for the entire property. As a result, they turn to banks for loans. BSP First Home Ownership SchemeBSP’s First Home Ownership Scheme is not an ordinary loan. It’s a specialized loan facility designed to suit borrowers who have the outright potential to repay the loan. And like any other loan, FHOS is a convenient contract between BSP and a first home buyer, when it comes to buying a home.With a strong tailwind, the FHOS significantly applies to newly built homes, or brand new homes soon to be completed. These properties must prove to be on a state leased land with a genuine title. The home buying experience can be intimidating in a way, but with a teaspoon full of motivation, you can calm your nerves to put that journey into perspective, with BSP’s First Home Ownership Scheme. There are three types of loans currently available at BSP:BSP Standard Home LoanBSP Personal Property Investment LoanBSP First Home Ownership Scheme And each loan is typically influenced by four main characteristics:PrincipalThe principal describes the original amount being borrowed. It is the amount a borrower gets from a lender upon application, excluding closing costs and other related fees.The TermThe term of a loan explains how long it will take for it to be paid off. For instance, FHOS can take up to 40 years to complete.Interest RateRefers to a portion of a loan typically expressed as an annual percentage of the loan outstanding.Repayment FrequencyRefers to how often you should make your payments until the loan is paid off. Let’s consider an example that illustrates the four main factors in perspective:Picture this, you decide to buy a house so you begin your search and you came across one that matches your definition of the ideal house. It’s worth K400,000.According to your financial situation, you will need a loan to help secure the house, so you turn to BSP. But in order to get that loan, BSP requires that you purchase 10% of the house, to begin with, as a down payment. So, you chip in K40,000 (10% of K400,000), and BSP covered the remaining amount of K360,000 (the principal) with a fixed term of 40 years (the term) at a rate of 4% (the interest rate), which is to be repaid in monthly installments (the repayment frequency). By putting these numbers into BSP’s Loan Repayment Calculator, your monthly repayment would be K1, 688.(Note: Your monthly repayment amount does not include property taxes, personal insurance or other additional fees) Components Of The First Home Ownership Scheme (FHOS) BSP’s First Home Ownership Scheme is characterized by:A minimum loan of K200,000 and a maximum of K400,00040 years maximum repayment term4% fixed-interest rate annually1% additional bank feeLoan amount exceeding K400,000 will be assessed under BSP Standard Home Loan Fixed-Rate LoanBSP’s First Home Ownership Scheme is a fixed-rate loan. Meaning, the interest rate on this type of loan remains consistent throughout the term; it doesn’t go up, it doesn’t go down and it doesn’t go sideways (pun intended). Case in point, in the previous example, say your annual loan repayment amount is K20, 256 (K1,688 x 12 months), and comprises the 4% interest rate on the principal. This 4% will not change throughout the term of the loan - it is unchangeable, and that is what is meant by a ‘fixed-rate loan’. As one of the most common types of home loans, a fixed-rate loan such as FHOS requires a borrower to repay the principal over a ‘fixed term’ (an unchanging length of time) with a ‘fixed rate’ (an interest rate that never fluctuates over that length of time).This type of loan is ideal for borrowers strongly interested in a steady and predictable loan repayment term. Borrowers are usually allowed 30, 15, or 10 year fixed-rate loans. Traditionally, the shorter the term of the fixed-rate loan, the lower the interest rate.The magic of home loans is that they make home ownership a truth for everyone. But not without a substantial investment (closing costs, down payment, time to apply, etc.). How to qualifyIn order to qualify for a loan, a borrower typically needs to submit some forms of identification and basic personal financial information, such as employment history, projected down payment amount, authorization to pull credit rating and so forth. For BSP’s First Home Ownership Scheme, a borrower is required to provide the following proof:Be a PNG Citizen and a first home buyerProvide proof & evidence of 10% equityBe an employee of either public service or the private sector and earning a regular incomeProvide Bank StatementStatement of outstanding debts with other banks or financial institutions for the last three months if any.Provide three (3) months statement if account is held with another bankProvide three (3) latest payslipsConfirmation of employment or copy of contract of employmentHow to ApplyComplete a BSP Loan Application.Submit copy of Title Deed confirming ownership of land/Lease is State owned.Statutory declaration confirming acquisition is your first and will be owner occupied Understanding ‘pre-qualification’ and ‘pre-approval’ Once you’ve met all the lender’s requirements, you’re given a pre-qualification letter saying you’re eligible to purchase a home up to a specified kina amount, although the pre-qualification does not guarantee the final approval of the loan.At this stage, the lender is truly satisfied with your basic personal information, along with your deeper financial information - which may translate as your annual income history, recent bank account activity, and the likes. In fact, between pre-qualification and pre-approval, the latter is more strenuous than the former, where it involves a more in-depth look at the costs and interest rates that the borrower will be meeting as part of the loan. ApprovedWith BSP, a borrower qualifies for a home loan once a down payment has been made - immediately - after every qualification requirement has been satisfied. The down payment assures BSP that the borrower is serious about owning the home.The BottomlineOwning your own home is everyone’s dream. For some, it gives a sense of security. For others, it symbolizes accomplishment and prosperity. For a few, well, a shelter over their heads, a cozy corner to sleep in, a private space, will just about do it. With BSP’s First Home Ownership Scheme, you can turn these dreams into a truth. For more information, you can speak with BSP’s Relationship Manager or call BSP Corporate Banking toll free on 180 1100 or +675 305 7900.

Imagine coming across a property in the newspapers or on Hausples website that features everything you’ve always desired in a property. You’re instantly hooked the minute you caught sight of it. A deja-vu? You wonder. How could this be? Is it possible that your answers in a recent survey were taken into much consideration? Possibly! This is why surveys are mission-critical. And this is why we do surveys.  You see, stories hurt and stories heal. Stories make us who we are - they are our voice. And our voice represents the unseen within. It is your voice that influences property construction, design and the real estate market. It is your voice that brings about change. Even shape the future of the country. That’s how powerful your voice can be. But your voice can go unheard among the hundreds of individual opinions thrown around daily, and this is where a survey becomes effective. Voicing your needs and preferences via a survey has a causal effect. Once viral, it can easily dictate the success or failure of a business. Therefore, knowing what makes you happy and what makes you sad puts a business in a better position to think up ways to solve your problems. In this article, we’ll cover 10 reasons why surveys are important and how they benefit both a company and its consumers. 1. Acquire Valuable InsightA positive, working relationship between a business and its consumers is a fine art. No business has ever existed without customers. Consumers are the lifeline of a business; their preferences, concerns and needs make up the crucial element of survival for businesses. Therefore, a consistent barrage of consumer feedback acquired, analyzed and put into perspective can make or break a business’s development. Acquiring valuable insights from consumers help to determine the level of satisfaction gained from using products and services on offer. These valuable insights also help to recognize which areas of business operations need improvements, and which areas need consistent capitalization.   2. Understanding Customers’ Thoughts And FeelingsBy understanding what customers are thinking and feeling, a business is able to respond correctly to the consumer’s needs and wants. Empathy, either in a business-to-business or business-to-customer setting, leads to stronger social connections. In itself, empathy is the signature expression of a quality consumer experience, and it doesn’t breed contempt, rather procreates loyalty.Once a business begins empathizing with its consumers, it tends to regulate its emotions and ends up with an optimized market offering centered around consumers’ thoughts and feelings. Conducting a survey only solidifies this reality. 3. Knowing How Customers View BusinessesHow a business is perceived by consumers has a lot to do with areas that the business needs improvement in. It also sheds light on aspects of the business that has been overlooked previously by the consumer, or which the consumer may not have thought about.  4. Determine Business PrioritiesAt this point, a survey will outline the strengths and weaknesses of a business, average out the responses to see where each aspect of a consumer’s experience stands in the greater scheme, and modify certain processes that appear the best avenue to plough. Businesses may also want to find out the performance of their agents and to conclude if further upskilling is required.  5. Impressing CustomersEvery business thrives on consumer satisfaction. But only satisfying consumers is becoming a thing of the past. In a contemporary property market, a business only has the competitive advantage when it’s able to impress its customers, rather than just satisfying them. Knowing all about the aspect of a product or service that propagates a positive impression on consumers always leads to a positive brand image. And a positive image means growth and survivability in the market.  6. Tracking Changes In Customer PreferencesSurvey feedback is one way businesses find out how a consumer reacts to changes made by the business. Tracking changes in consumer preferences has the capacity to inspire new business practices. This is an opportunity in which businesses use customer feedback from a survey to devise a product or service that fits a consumer’s personality. 7. Preserving PrestigeA survey is an exciting medium in enabling a flexible communication between a business and its consumers. It is the brainchild of consumer feedback, because without feedback, how can a business know if it is offering the right product and service to its customers? Anticipating consumer feedback via a survey shows just how much a business cares about its consumers. 8. Word-Of-MouthSo much has been said and done to improve communication channels in this contemporary age and lifestyle. Despite immense benefits brought about by social media platforms and new technology, nothing beats good old worth-of-mouth recommendations from a reliable source. All things considered, word-of-mouth is the tip of the spear in the business world. And for a good measure, it can bring about doom or gloom upon a business. 9. LoyaltyLoyalty is not a given. Like trust and respect, it is earned. Loyalty is the by-product of offering a product or service that mirrors a consumer’s personality. Whether positive or negative, what the consumer experiences with a particular product or service reflects on the kind of loyalty that is to be earned. 10. Identifying behavioral cluesSurveys are rarely a one-time thing. As consistent as they should be, surveys assist companies in pinpointing similarities in behavioral clues in the form of trends within consumer feedback. Realizing these trends as actionable items lead companies down the avenue of improving their overall consumer experience and, therefore, delighting their consumers in the long run. Listing well over 3,000 properties for sale and rent throughout Papua New Guinea, the PNG Real Estate Survey 2020 is executed with one goal in mind...YOUR SAY. So let your voice echo across the real estate market. Let it embed itself in the hearts and minds of property developers, builders, and agents and bring forth a property that embodies your story.With one week left before the conclusion, don’t forget to take part in the PNG Real Estate Survey 2020. Your answers will go into a draw to win a Galaxy A50 smartphone worth over a thousand kina...Kudos!

The PNG Real Estate Survey 2020, currently hosted by Hausples Limited, seeks to address demands for affordable housing, purchasing power, property prices and desired reforms that mirror customer expectations. So far, more than 1,500 completed surveys have been submitted, and the number continues to rise daily. The survey is conducted annually among a supply of subscribers who receive regular updates from Hausples. Because of these surveys, Hausples is able to gain greater insights into new real estate trends, which is then made available to interested parties who have a special take on the property market.“Surveys of this nature give an opportunity for the general public to state their preferences in the real estate market,” says Tom Snelling, General Manager for Hausples. “It’s important to understand what homebuyers are looking for - the price range, acreage, etc., so that developers and planners can build accordingly.”Voicing your concerns and preferences or feedback is paramount to any survey, likewise the PNG Real Estate Survey 2020. From a customer standpoint, your voice becomes the instrument for companies to measure your level of satisfaction with their products or service, and is suggestive of what’s working, what’s not, what should be done, and what is expected.  The 2020 survey tallied responses from property agents, developers, investors and basically everyone else. Just under half represent the government, banking and finance, oil and mining, and real estate and construction sectors, while retail, education, hospitality, medical, self-employed and others comprised fair portions. Among the notable results:The average age of respondents is between 31-40. Compared to last year, the progressive number of respondents in this bracket has gone up by 3%.The survey also shows a dip in percentage of low income earners, but not so true for middle-income earners who are experiencing a gain;The general perception of the real estate market, however, falls within the confines of “unaffordability”, especially for rentals and sales; Still consistent, compared to previous years, Waigani is the most sought after location for residing. But an overwhelming interest points to out of town locations such as 8 Mile, 9 Mile, Edai Town and so forth;Over half of the respondents said they are likely to spend between K200,000 and K400,000 on a property; and,Contrastingly, financial literacy has greatly improved and most likely will continue to improve in the years to come “As far as the current survey goes, we are seeing growth in the mid to upper income earners, which is inspiring for PNG’s economy and individual purchasing power,” Mr. Snelling added. “And despite the general feeling that property prices are high, with limited appraisal for affordable housing, the survey indicates significant changes in attitudes and that suggests maturity in the real estate market in PNG.”The 2020 survey has been refined in order to obtain as accurate and unbiased information as possible. Location preferences include the whole of PNG as well as suburbs of the capital. There also appears to be a trend towards the purchase of land-only, for which Hausples is trying to gain a deep understanding of this reality. The general purpose of these surveys is to assess how satisfied the general public is with different aspects of the real estate landscape. Identifying unhappy customers is as important as identifying extremely happy ones (potential advocates).To wrap things up, the overall goal of any survey is obtaining actionable customer feedback that can be used for improving overall customer experience; hence, your satisfaction in the product/service offering. Nevertheless, measuring and tracking overall customer satisfaction is the first and most important step towards creating amazing experiences.You only have a week left to fill in the survey if you haven’t done so yet. Your answers will go into a draw to win a Galaxy A50 smartphone.

As 2019 comes to a close, Hausples avails this moment to appreciate the year. Since January, Hausples has remained consistent in maintaining its reputation as PNG’s number one real estate portal. From property developers, to property builders, to real estate agents, and investors, we have had so many amazing conversations and relationship building behind the scenes, and we hope to continue this trend in 2020 with greater significance.  However, our successes in achieving our goals would not have been possible without you - our beloved real estate community - and all that you’ve given as inspirational tools for our growth.  Here’s a roundup of our favorites for this phenomenal year, as far as our successes go. Home & Car Expo 2019As never before experienced in PNG’s real estate scene, Hausples and Market Meri fair-and-squarely pulled off PNG’s first-ever Home & Car Expo in June of this year. The Home & Car Expo 2019 fulfilled many a home and automotive needs in unexpected ways. Participants and visitors alike were treated to an array of housing and motor vehicle narratives under one roof. The two-day event was filled with entertainment, educational incentives, and informative cues. Many elated attendees went home with a piece of mind.Major players representing the real estate market and other related markets took advantage of this opportunity, thus making it one of the biggest events of 2019.For Hausples, this was nothing short of brilliant.  The Noble CenterNothing was nobler in 2019 than China Railway Engineering Group’s Noble Center in downtown, Port moresby. Unprecedented in size and sophistication, the Noble Center was completed in August of this year. Standing tall at a height of 95.6 meters, constituting a 23-storey nirvana of living, working and recreation, the Noble Center was one of the most featured topics of 2019.Being a major client of Hausples with several listings on our website, we are proud to consider China Railway Engineering Group (PNG) Noble Real Estate Co. Limited as part of our real estate community. Hats off to their successes in 2020 and beyond!   Lae Real Estate Show 2019Due to popular demand, Hausples decided on a second Lae Real Estate Show. Rather than allowing routine to dictate everyday scenarios, visitors assimilated to their curiosity of the event’s undertaking.Major players such as BSP Lae Branch, Nambawan Super, Hornibrook NGI, PNG Institute of Architects, Guard Dog Security Systems, Laga Industries and Niugini Electrical Limited, just to name a few, had much to brag about at the end of the show. New interests, new leads and qualified prospects were the highlight of the Lae real estate event. Attendees who were on the scene to get the pulse of the event shared the same sentiments and, like their counterparts at the Home & Car Expo in Port Moresby, went away with a piece of mind.  OPH Commercial Towers 1 & 2It’s a well known fact that a first impression will always be the last impression. Where personality counts, the newly built OPH Commercial Towers 1 & 2 by Lamana Development Limited in partnership with Nambawan Super, strikes a chord between presentable, confident and professional. The OPH Commercial Towers only add to 2019’s plethora of PNG’s built environment, serving the country’s major industries and providing the general public a number of probable causes to work, shop, socialize and relax.  All in all, this year was another challenging year for everyone here at Hausples and Market Meri. A new terrain comes with a new approach, likewise a new year breeds new challenges with new mindsets, and so was the case this year. But, we wouldn’t have reached that level of success without your support.Thanks to you, we have built a system of conformity with specific insights and unlimited comforts. The results of 2019 for Hausples sheds much light on our continuous ability to see new trends quickly, complete tasks with minimal oversight, and conclude several projects on time. Your support has also given us the ability to exceed expectations and to maintain our strong presence as PNG’s number one real estate portal, so far. We would also like to thank the following major clients and sponsors for this phenomenal year. A happy new year to:Pacific Palms PropertyBank South PacificNambawan Super LimitedEla MotorsTrans Pacific Assurance LimitedKina BankCentury 21REIAAirways ResidencesRhodes PNGHornibrook NGICRCECPNG Forest ProductsPost CourierFM100 As well as those who have made our progress in 2019 a success.That’s a wrap for 2019. But we can’t wait to share what next year has in store for property developers, agents, and investors like Y-O-U. Until then, keep smiling, keep living and subscribe to our monthly newsletters for the latest real estate happenings and insight.Don’t forget to take part in our survey and win yourself a smartphone worth a thousand kina.

This is a continuation from the previous article, Understanding Equity, covering yet another branch in the tree of Equity. As presumed earlier, each conforming subsidiaries of the tree of ‘Equity’ may become articles of their own. Nonetheless, here, we’ll explore the terrains of ‘negative equity’ in terms of residential property ownership. What is Negative Equity?Although negative equity is seemingly unheard of in PNG, it’s pretty much straightforward to perceive. Negative equity is a situation where the remaining on a loan is more than the “current” market value of a property that’s up for sale.Meaning, if the amount remaining on a loan you took out earlier to purchase your house turns out to be greater than the current market value of the property when you decide to sell it, you have come under negative equity.. Here’s an illustration... Say, Noel originally bought his house at K350,000 and took out a mortgage of K300,000 to pay for it, and his equity is K50,000. However, due to a crash in the property market, his house value now drops to K250,000, meaning his equity is now a negative K50,000 (250,000-300,000)For example, you decide to sell your house and you discover that the market value has dropped to a mere K250,000. But the current balance outstanding on the loan you took out to purchase the house is K300,000. Now, because the current value of your house appears less in amount than the present balance outstanding on your loan (K250,000 - K300,000 = -K50,000), you are in negative equity. Here, you can see that the difference between the value of your property and your current balance outstanding on your loan is a negative K50,000; hence, your negative equity worth. Who is vulnerable?For starters, the property market is often in line with the state of the economy. If a country is in recession, it will often experience an increase in unemployment and a decrease in property prices. This means that citizens are at risk of losing their jobs, therefore unable to repay their mortgage. The house is repossessed but the value of the home won't cover the loan so they are still liable for a debt to the bank.Worthy of note, housing has an indirect impact on the economy. Property investment is affected by prices, therefore affects the growth of the economy. How? Rising home prices can encourage homeowners and developers to spend more on renovations or construction to increase property value. Whereas, a decline in property prices have the opposite effect which lead to a weakening of economic growth.Simply put, investors, developers, builders, financial institutions, banks and the end user are all vulnerable to negative equity when a loan/mortgage is involved. Who Is Not Affected By Negative Equity?Negative equity only exists where homeowners and mortgages have a special connection. Even homeowners without a mortgage obligation need not concern themselves with this.In other words, a homeowner who had purchased the property with his personal savings should not be concerned with negative equity. Case in point, only a homeowner who had purchased a home with a mortgage should be concerned with negative equity. Because if the homeowner decides to sell the property and finds that the current market value of the property is much less than what he/she owes on the mortgage, they will be in negative equity. How Do You Know If You’re In Negative Equity?Just like every other aspect of “equity”, knowing whether or not you’re in negative equity will surface the moment you decide to sell your house. If you’ve taken out a mortgage/loan to purchase a property, you will - on the other hand - be better placed to calculate whether on not you’re in negative equity. The options that follow include asking property valuers to value your property, comparing prices of similar properties that are currently on sale in your area, or simply checking your most recent mortgage statement. Choose what is most convenient to you. Should you be worried?Unless you only have 12 hours to live on this planet, no!For starters, many property owners are under the impression that the minute they default on their loan repayments, their property is readily repossessed by banks. This is a misconception. In actual fact, banks are rarely hell-bent on repossessing properties. Surprised?...You should be. For instance, say you lost your job and you’re unable to make repayments on your loan, overtime. Instead of repossessing your property immediately, banks would rather prefer you find another job or some other way to help with your repayments. It is only when these options are exhausted, the banks then move in for the repossession.So, if you don’t plan on selling your house anytime soon, or if you’re in negative equity but you have a number of options to pull yourself out of it, then there’s no need for panic.Moreover, banks don’t anticipate loss of property leading to repossession as a last resort.  Dealing With Negative EquityYour ability to handle negative equity depends on the strength of your finances and your circumstances. For instance, you’re in negative equity and you decide to sell your property. You can only manage to remove the negative equity tag if you’re able to make up the difference. Meaning,  you have sufficient financial backing to eliminate the negative difference between what you owe on your mortgage and what you’ll make from the sale. A point to remember here is that just like “all good things must come to an end”, all bad things also have an end, and negative equity has a lifespan. That in mind, there are factors that can cultivate a positive equity position, such as investing in sweat equity, refinancing the loan, paying extra to offset the mortgage quickly, or sensibly enduring the term of the loan until the ideal climate to sell on the market comes along.Nonetheless, the process has to go by the lender before the property goes on sale.  The BottomlineDespite the fact that negative equity is unavoidable, there are a few considerations one can look in to in keeping negative equity at a minimum - where one doesn’t have to stress over a huge chunk of loan outstanding, with less being earned on a sold property.All things considered, you can still sell your house whilst in a negative, by simply using common sense with real estate mechanisms that are cleverly designed to handle negative equity scenarios.Speak to a professional today to learn more about the concept of negative equity and how you can be able to handle it.

In 2014, Papua New Guinea’s real estate market was on the brink of an ambitious result. The year witnessed the initiation of the LNG Project to which the property industry was at the forefront of a bright future. However, from 2015 onwards, homeowners who had bought at the height of a bloated real estate market found themselves underwater with their loans riding high. Owing more than what their homes were worth on the market, during the turn of events, these risky loans partnered with negative equity to cause an upset between investors and banks in every manner possible. Today, it’s a completely different story altogether. The gradual move towards a healthy property market, far outweigh the events that immediately followed the LNG projects.With the current boom in high-rise buildings, luxury apartments and commercial suites, the scene in Port Moresby has transformed beyond recognition. However the nagging question. However the nagging question that has a habit of popping up from time to time is: how has this change in the property market helped the average Papua New Guinean? This question and more like, do we really know what needs to be built? With a land tenure system that limits land availability, demand surefire answers that bring about “real change”, as well as asking, should developers focus on apartment blocks or should we review our leasing system, in order to spread our wings across PNG’s ample landmass?This is where having an in-depth understanding of the real estate market is critical. Because of the fact that real estate markets are usually unpredictable, you can only project as much. Factors such as home prices, interest rates, and market trends evolve on a daily basis, so a good grasp of these drawbacks and cascades can help you become a better investor in the long run. For three years now, Hausples has been running sentiment surveys to get a better understanding of the wants and needs of home buyers across the country. We know, for example, that only 4% of respondents would actually want to buy an apartment.High-set (stilted) properties are in great demand, however, with 44% stating this as a first preference. Interestingly, demand for land sales are also increasing, suggesting a trend towards erecting prefabricated and kit-homes as a way of keeping costs down.And in terms of location,with respect to the outer suburbs of Port Moresby such as 8-Mile, 9-Mile, and what have you, are becoming highly popular areas of interest, perhaps due to more affordable, land prices and improved road conditions.Less surprisingly, the desire for property prices below K400,000 made up nearly 60% of all respondents; a slight decrease on previous years, yet again, proving that affordable housing remains high on the agenda.Also worthy of note, trends in property prices, new housing statistics, interest rates, plus other economic indicators pose external influences as well on real estate markets. Conversely, being tuned-in to the real estate market - not just what’s happening nationwide - is important when you’re planning to invest in, buy, sell, or rent real estate. This is why the moods and sentiments of prospective buyers and sellers cannot be ignored, because real estate does not exist in a vacuum.The 2020 Real Estate Survey is YOUR opportunity to have your say in PNG’s property market. Whilst we can’t promise that changes are on the horizon, we can, however, convey the information to government departments, real estate professionals, investors and developers. From how much you are willing to pay for your next home, to what type of materials you would like your home to be made of, to your dream land size, are just some of the survey questions that produce concrete insights on the type of background and mindset participating in the survey.Better yet, your answers will help the next generation of home builders and planners in ensuring that housing developments in the future are built around your requirements. In other words, building properties with you in mind. You will also come across questions regarding finance, commercial properties and changes within the industry, which can help to determine what actually influences your preferred choices. All answers will be held in the strictest of confidence.  REASONS TO TAKE PART IN THE SURVEYReceive the latest information on PNG’s real estate marketHave your say in the property marketWin a phone

Trees are perennial in nature, and commonly grow into very broad stems or trunks that support a system of branches and leaves. Metaphorically, the overall composition of trees have been used to describe the origins, structures and functions of various ideas and establishments.And Equity can be understood better in this way. A virtuous system of intricate subsidiaries, each having a slightly different reference and application.  Although this article only looks at the general makeup of equity, its conforming subsidiaries may become articles of their own such as owner’s equity, negative equity, stock equity and so forth, in due course. What is equity?The following example illustrates the relevance of equity in a real estate setting:Imagine you purchased a house for K500,000, made a 10% down payment (10% of K500,000 = K50,000) and got a loan to cover the remaining K450,000. In this illustration, your equity is 10% of the property’s value, which is K50,000 (10% of K500,000). The property is valued at K500,000 and you contributed K50,000 (or 10% of the purchase price). Technically, in spite of you being the rightful owner of the property, at this stage, you own only K50,000 worth of it, hence, your equityIn retrospect, the reality in this case is that equity represents your down payment (i.e., investment). Once you establish this understanding, calculating equity becomes easier, just like knowing the back of your hands. To calculate your equity, you simply subtract the principal loan amount (K450,000) from the original price of the property (K500,000). In other words, the resulting amount will always equate to your down payment or investment, which is also known as your equity.  Building equityReal estate investors, sometimes, set forth additional renovations to the property, apart from the loan and down payment. This increases the worth of the equity which, like a ripple effect, increases the value of the property. For example, if you were to invest K10,000 of your own money into renovations, this may well increase the value of your property by, say, K20,000. Therefore, your property is now worth K520,000, your loan remains consistent at K450,000 and the equity is now K70,000 (an additional K20,000)It is sometimes possible to borrow from your equity, or a re-mortgage, but the drawback is your equity will decrease, while your loan increases.On the whole, there are other factors as well, besides renovations and home improvements that affect the nature of equity, for better or for worse. Factors exacting an increase on equityEquity is not a fixed amount that you can easily settle for. Instead, it is fluid in nature, so it’s easily affected by financial situations. To increase the value of your equity, you can do either of the following. But then again, it all comes down to your financial situation: (i) Loan repaymentEvery time you offset a mortgage installment, your equity in the house accumulates. This will also encapsulate any tax or insurance payments you offset on behalf of the property. Better yet, the more committed you’re in paying off your loan and parallel liabilities, the more your equity grows.  (ii) Pay more than you need toSay your loan repayment is at a rate of K700 a month. But due to a favorable financial situation on your part, you are able to pay K850 per month, instead. So, paying extra in offsetting your loan is an effective way of quickly reducing your loan principal and, in turn, building your equity. (iii) Cash injectionsBusiness wise, cash injection literally means pumping money, stock or debt into a business, in return for a share in the business. In real estate, this will entirely concern your equity and its growth.Capital injections, as contributions from your family, friends or colleagues into increasing the value of your property also improves the status of your equity. (iv) DIY home improvement projectsJust like being up-to-date with your mortgage repayments, every time you perform a DIY improvement on your home, your equity increases.The reason being, improvements or renovations usually lead to forced appreciation in the fair market value of the property. (v) Property appreciationOne of the economical aspects of a property is that it appreciates in value. Thus, once your investment property appreciates, it plays to your tunes. This means that as the value of your property appreciates, so does your equity. Here’s an illustration:Noel buys a house at a fair market value of K500,000. His down payment was K50,000. The rest was paid for by the loan at a cost of K450,000. 8 years down, Noel decides to sell his property. He finds that his property is currently worth K650,000. Because of this appreciation, his equity is now worth K200,000 (down payment + appreciation value), including additional costs you’ve paid for the loan during the 8 years. Supposedly, say Noel has paid back K30,000 during the past 8 years. His equity would equate to: His initial down payment (K50,000) + the appreciation value (K150,000) + the amount of the loan already paid (K30,000). Furthermore, regardless of the factors that feed the growth of your equity, it is difficult to determine how much your equity is really worth, until you decide to sell your property, and also having a realtor appraise it.  Factors effecting a decrease in equityA coin has two sides. A story has two sides. Life is all about good and bad, and as there are factors that help equity increase, there are also factors that lessen its growth.Consequently, here are four major factors that cause equity to decline: (i) Loan refinancingAlthough taking out a new loan to pay off an outstanding loan may seem clever at some point, the process has negative implications on your equity written all over, because you’ll be putting up your equity as guarantee for the new loan. (ii) A crash in real estate market valueThe value of your property is vulnerable to changes in the real estate market. If the market experiences a crash at any point in time, it automatically becomes hazardous to your equity as well as your property’s value.Let’s use the previous example to demonstrate this scenario (where Noel bought the property for K500,000 with a down payment of K50,000). Picture this, the market crashed, so the value of Noel’s property is now worth a mere K390,000 (K500,000 - K110,000). Despite his K50,000 in equity, the property’s value decreased by K110,000. Nonetheless, Noel still wants to sell the property, because of his loan outstanding. Instead, of being patient, he goes ahead with the sale. In the end, he’s found himself in a ‘negative equity’ position, because of the fact that his property’s value has fallen way below the outstanding balance on the mortgage, which is -K40,000 (K390,000 - K450,000).A perfect illustration of negative equity at work was the height of the LNG project, back in 2014, where Port Moresby witnessed a huge influx of overseas workers who needed to be accommodated. During that time, the demand for housing was at an all time high than the supply. The immediate impact was a mounting pressure on both the rental and sales markets, causing a significant increase in property values. Unfortunately, this boom was short lived and anyone who had bought a house during that period succumbed to the wrath of negative equity in the years that followed, when they decided to sell their property, as demonstrated by Noel’s example. However, It’s not all doom and gloom. Whilst property value can go up  and down over a short period of time, the general consensus is that a property’s value will generally increase in the long term; hence the phrase, “safe as houses”. (iii) Damages to the propertyDamages to your property, including by natural disasters and pests, can directly affect your equity, because of the costs you will encumber in fixing them. Unless your property’s insured, you’re bound to spend money on the damages.  (iv) Neglecting maintenanceIgnoring the need for maintenance on your property will play against you. Neglected maintenance is costly and negatively affects your equity. However, the opposite is true in that it helps build your equity. ConclusionAt the end of the day, the privilege of equity rising is that you have a number of options to use the surplus cash that’s generated. Additionally, once the loan is settled in full, you will  be entrusted with the deeds, and the property becomes truly yours. And of particular importance, note that the only way you can know how much your equity is truly worth is when you decide to sell the house.

Sweat equity is a term used to describe an individual’s or a group’s contribution to a project through the means of physical labor. Sweat equity is all about individual effort and initiative, and has a respectful place in the business world, too. Take, for instance, a new air conditioning repair and installation company. The owners will pitch in their own effort and toil to build the business from the ground up. In similar circumstances, a property under DIY improvements to increase its value by the owners themselves, make up the definition of sweat equity.So, the sweat that drips down your forehead. A sore arm. The prickling of sun rays on your skin, are all part of kick-starting the operations of a business or increasing the value of a property through DIY improvements, collectively summing up what a ‘sweat equity’ is. But before we stretch this concept, let’s consider first its origin, present-day application, and what “equity”, on its own, means: OriginSweat equity was first conceptualized in the United States in 1937, by a housing project called American Friends Service Committee. But it was not until the 1950s when the same organization (AFSC) popularized the term during their quest to help migrant farmers of California build their own homes. From here on, the concept has reached worldwide status, creeping into every business startup and real estate jargons. Present-Day ApplicationSweat equity, however, is perhaps most synonymous with a successful model used by Habitat For Humanity, a global non-profit housing organization - which helps families who would otherwise be unable to purchase a home - contribute sweat equity hours to the construction of their own home.Once these families are settled in their new homes, they resort to making interest-free mortgage payments into a revolving fund, which in turn generates capital for building new homes for other families.As its history suggests, sweat equity was all about physical labor, zero hours, and property development. Financial contribution was either optional or out of the question.Still and all, many business startups of today have adopted the concept of sweat equity to define similar scenarios, such as a partner contributing to a project in the form of effort and toil, as opposed to capital equity. The Meaning Of EquityEquity, from a housing point of view, is how much of the property that one actually owns.  Imagine you own a house worth K200,000 and you owe K120,000 on the loan you took out to buy the house. The difference between the value of the house and what you currently owe on the loan is the equity, in this case it would be K80,000. So, equity is the difference between how much your property is worth and how much you still owe on the loan you took to buy the property in the beginning.That is equity for you. Now, let's move on to the crux of this article...Sweat Equity And Property DevelopmentNewton’s third law of motion states that “For every action, there’s an equal and opposite reaction”, and as dignified as it sounds, the statement can be generally felt throughout every aspect of life. An increase in equity in homes due to the impact of increasing property prices and a consistently strong real estate market, is no exception.As a habit, many people usually want their homes to increase in value, and in turn passionately generate a handsome return on investment (ROI), when the home goes up for sale or rent. This draws a number of conclusions relative to return on investments.For example, a well manicured lawn will take a fair amount of time and effort to perfect, and it will increase both the value of your home and the equity, without any financial input.Thus far, there are supplementary options available to homeowners when looking to increase the equity in their homes. Options such as completing your mortgage repayments on time and DIY home projects are equity boosters. This is where it gets interesting with the latter mostly possessing the crux of this article. Note: Not only does sweat equity resonate with homeowners engaged in home improvement projects. But also any business that sets out to improve the value of its entirety and location, which tends to  generate sweat equity as well. Nonetheless, the term is commonly applied in residential real estate, where DIY home projects thrive. Naturally, DIY home projects can actually add value to your property in the long run. As far as a rise in the value of the property and ROI are concerned, home improvement projects are virtues to live by.By choosing to put your handyman skills to work on simple DIY home projects, instead of external input, the chances of an increased equity in your home is inevitable. The Value Of Sweat EquityExpanding on the calculation of equity earlier, let’s determine how you can get the value of sweat equity, amongst all that, if you were to find yourself in such a situation. For example, say you decide to do some improvements to your house. A paint job here. A verandah extension there. You mow your lawn. You redo the gardens, and after a day or two, the house and the immediate landscape looks impressive and almost brand new. You did it all by yourself. Thanks to your sweat, you’ve improved the look of your property. But where does sweat equity fit in, you ask? Ok, let’s say the value of the improvements you did to the property is at K10,000. The property, on the other hand, is worth K200,000. After the improvements, the property is now worth K210,000 (value of the property before the improvements + value of the improvements), because you’ve just increased its value with the improvements. This increased value is your sweat equity. In other words, the value of sweat equity in all these is K10,000 (the value of the property after the improvements less the value of the property before the improvements).So the value of sweat equity is determined by the difference between the value of the property before the DIY improvements, and after the DIY improvements. However, your sweat equity is susceptible to changes that may result from an unsteady real estate market or the kind of DIY improvements to your home, or even the lack of it, which can influence the worth of the property, thus, a different value every time.Conversely, your sweat equity value (K10,000) in the given example, on the other hand, is also affected by the balance of the mortgage as you offset each installment. All in all, the value of a property can be improved by positive changes in the real estate market, and simple DIY home improvements - this is where sweat equity enters the equation.  Needless to say, home improvement projects are an ideal way to give your property a promising growth in value. So, the effort - or sweat - as your input into adding value to your property, is the very definition of sweat equity.

Conventionally, housing had a different shade of meaning and perspective. It was all about living spaces and roofs over heads. Nowadays, it’s a completely new ideology when it comes to housing. What was once perceived as a decent dwelling is now an item that shares similar characteristics to Lego toys - build according to instructions in the pamphlet or let your imagination take over.Where once you did not worry about zoning rights, now you are confronted with different personas with papers and ID cards in hand, breathing down your neck to ensure proper processes have been adhered to.Then there’s the issue of high property prices. (Image by Studio Workshop, Port Moresby) A recent article by post-courier titled “Port Moresby Becoming Too Expensive” (November 15, 2019), represents the plight of many whose concerns are laser-focused on affordable accommodation and the property law system in PNG.The article further explained that developers and homeowners shared similar sentiments, to which purchasing real estate qualified as a tricky business. Moreover, the view that property prices are quite high in Port Moresby than other major centers such as Lae and Madang, is common knowledge.Post Courier also cited the Hausples 2019 Real Estate Sentiment Survey to affirm this notion. In the survey, the newspaper gave particular emphasis to: Rent or own?“Comparing the proportion between renters and buyers indicate that the market in PNG is maturing. Seventy-one percent of those taking the survey said they are renting their property. While this is the majority, it is down from 74% last year and 76% in 2017.Ownership, on the other hand, rose hugely. Almost 16% said they owned a property in full. Nearly 13% said they owned with a mortgage, which is up from 10% last year.” Property type, location and budget“When asked what kind of property they wanted to rent, the majority, surprisingly,  said they would prefer an apartment, a significant increase compared to previous years.However, hi-set houses are by far the most desired properties to purchase, with nearly half of all respondents preferring this style of living.What is more, the desire for house rentals has dropped to just 40% against last two years' figures of 58%  From a location perspective, there was a big increase in demand for land outside of suburban Port Moresby. 8-Mile and 9-Mile saw the largest increase in location preferences, possibly due to cheaper land pricing and improved roads.” Affordability“Around 60% of respondents claimed that property is “very unaffordable” in PNG. A further 27% said property here is “moderately unaffordable”. These numbers are nearly identical to where they stood last year.” (Image by Century21 Siule Real Estate) In an attempt to address the issue, Post Courier noted that the PNG government rolled out affordable housing programs, including the First Home Ownership Scheme; with the aim of improving household’s access to housing, as well as sustaining their wellbeing.While this is currently true, Hausples went ahead with its own fact-finding in order to clearly explain a few factors that impact property prices. Let’s take a look at 9 of these factors: 1. Supply And DemandSupply and demand simply go hand-in-hand in influencing property prices. Prices go up when demands are high but the supply is low. The opposite is true. Ironically, in the real estate market, there’s rarely an equilibrium between supply and demand. So as far as affordable housing is concerned, not once has supply exceeded demand, which is why the prices tend to increase. 2. Economic GrowthWhen it comes to economic growth and the housing market, demand for housing is centered around income. A continuous growth of the economy results in a rise in income. This constitutes people’s ability to spend more on housing, in tend giving rise to demand and property prices. In England, for instance, demand for housing is often noted as income elastic (or a luxury good). In other words, an increase in income often leads to a substantial percentage of the income used on housing.  3. Consumer ConfidenceA determining factor in considering a mortgage to purchase a property is consumer confidence, in terms of whether or not people are able to take the risk of buying the property with a loan.Found under Finances in the 2019 Real Estate Survey, “over 80% of respondents in our survey said they would require a mortgage to finance their property purchase.”In reality, the overriding element here is the expectations toward the housing market - if consumers fear a drop in house prices, they will defer the buying process. 4. Location, Location, LocationA house located near a beach front, within a CBD or few minutes from major public transport tend to be priced higher.With the vastness of PNG as a whole, you will find that a majority of the well developed areas are in close proximity or within major CBDs.This is another contributing factor towards a price increase for a property. Naturally, people want to be close to shops, public transport, entertainment hubs and their places of work, and that’s when things start to get interesting. As the demand for more houses in these areas increase, so does the property prices. 5. SecurityAgain, in the 2019 Real Estate Show Survey, under 4.1 Affordability, you will see that security has a significant impact on property prices. It goes without saying that people who are in the market to buy new homes often spend much of their time immersed in the physical configuration and overall outlook of the property, that they give little to no attention to how safe the neighborhood is. In actual fact, the security element of a property shares equal importance with every aspect of the property that increases value, than just how good it looks on the outset. 6. Interest RatesAn increase in interest rates signals banks and financial institutions to increase the cost of loan repayment variables. High interest rates turn a home buying experience into a lost cause. A slight change in interest rates often has a drastic impact on whether or not buying a house is economical. Homeowners who bought the property on loan are familiar with this trend.  7. Cost Of Building MaterialsIn a recent study conducted by Associate Professor Eugene Ezebilo on the Dynamics of Housing Price In Port Moresby, cost of building materials was noted as one of the influential factors in increasing a property’s value. This may be due to costs associated with transportation and importation of these materials, consequently impacting the value of a property. That said, two points come to mind:Low Kina value - means higher costs associated with imported goodsLack of foreign exchange - means a company’s ability to make payments overseas is limited.  8. Additional ExpansionsThe extent to which a property is able to be expanded to allow for new inclusions is a key element in determining the value of a property. This is where the options of turning the property into a storeyed accommodation, or building additional bedrooms, or transforming the spacious front yard into a tucker shop. In other words, increasing a property’s floor area adds weight to the cost of a property. 9. Unique to Papua New GuineaAnother factor that drives up the pricing of housing in PNG is the additional resources required for a developing country. Power and water are often inconsistent and requires backup generators, water tanks and pumps; all expensive investments which require ongoing maintenance. Once more, security enters the scene here. A typical PNG home is surrounded by fencing, often decorated with razor wire, plus the provision of security guards which can push up rental prices by a factor of 3. The Bottomline“If someone is going down the wrong road, he doesn't need motivation to speed him up. What he needs is education to turn him around.”Jim Rohn Armed with the knowledge and understanding of how properties are priced and the reasons for it, gives investors a better position to make a sound and informed decision in their preparation to secure a new property on the market.For latest Real Estate news and updates, simply subscribe to our newsletter to receive regular subscriptions.

Every year, thousands of tons of garbage makes its way to landfill in Papua New Guinea. What’s more, much of the waste is compostable; meaning it can be recycled and used as a source of nutrition for your garden.Organics like food scraps and garden waste release methane into the atmosphere when thrown out as rubbish. Methane is a major greenhouse gas with a global warming potential of over 100 times greater than that of carbon dioxide. Composting is the process of converting organic materials into a soil-enriching substance known as compost. Through continuous awareness and education on the benefits of composting, methane emissions can be minimized to a greater extent. Like knowledge, an investment in composting pays the best interest.  Composting is not a complicated or mysterious process. Keeping a few basic rules in mind, even new gardeners can begin the process without much hassle. Fundamentally, composting can be carried out in a number of ways in any indoor or outdoor conditions.  To begin composting, you need four basic ingredients:Brown materials - these are organic materials such as dry leaves, shredded cardboard, egg shells, and corn cobs, etc., which are rich in carbon or carbohydratesGreen materials - includes materials such as vegetable scraps or peelings, fresh lawn grass, coffee grounds, etc., and are rich in nitrogen.Water - having the right amount of water improves compost development. Too much water is just as bad as lack of water.Air - most of the biology in the soil that helps to decompose the organic materials are aerobic; they need air to survive.A complete mixture of the four ingredients sets the stage for microorganisms to break down natural matter into much simpler materials. This activity achieves what is known as composting.The process of composting is only successful based on the present state of the environment within the composting system, i.e., oxygen, temperature, moisture, material disturbance, the size and activity of the microbial population, etc. Composting (or natural recycling) is a continuous process in the natural environment, with or without human interaction. The effectiveness of composting can be attributed to the microorganisms and invertebrates within the present condition of the soil. They digest and consume organic matter and in this way the activity helps the soil become very fertile. The high fertility of the soil is the result of the nutrients put back into the matter by the microorganisms. The process of composting is somewhat easy to conduct, and can be followed through in any outdoor or indoor setting, and in any relative location. Composting has the inherent ability to control most of the organic material in the waste stream including paper products, animal carcasses, leaves and yard wastes, animal manure, and is easily adaptable to a waste management plan. However, for domestic usage, cooked food and meat may attract rodents so it’s best to stick with kitchen and garden waste.Moreover, the benefits of composting are many such as enriching soil, drastically reducing methane emissions, and encouraging the production of beneficial microorganisms that balances the biology within a compost system. Composting is all about recycling. It is nature’s way of turning waste into reusable material. Bare in mind that what you consider as garbage is actually compostable, so make composting a habit - keep garbage from reaching landfills or dump sites, and help reduce methane emission.

When it comes to company culture, there are many positive attributes that help define it. Most telling of all is the working space a company conducts its operations in. Ultimately, an office space goes as far as aiding company vision, driving success and effectively triggering brand awareness and positive image.At a minimum, a ‘one size fits all’ approach to office space design and layout is as old as the prehistoric age. These days, office spaces are tailored to a company’s specific requirements and goals. For companies having offices that seemed not to be ticking the right boxes with size, location, design, car parking, features and facilities, or layout, it’s a red flag. It’s time to either refurbish or relocate.From premium office space offerings with unconventional touches to flexible open floor plans, Hausples explores some of these properties, placing emphasis on what makes them different and how they can be employed to speak your personal or professional language. That being said, we begin with our favorite picks for the month of October: 1. 475sqm Of Blue Chip Company Office Spaces With Unconventional Designs Bringing Nature Into The WorkplaceA sturdy and enduring office trend currently reshaping the global workspace is the concept of reconnecting employees with nature. This is called biophilic design. It stems from the assertion that humans have an intuitive need to connect with nature, and the outcome of that connection points to better health, concentration, creativity, and workplace performance, further helping to improve both physical and psychological health, while revitalizing moods and reducing stress.The concept of bringing nature into the workplace or the equivalent of it, is synonymous throughout the multi-level blue chip office spaces at the highly acclaimed Noble Center. A demonstrable retail space on the ground floor incites the excitement the minute you walk in, while the mid-storey carpark visible outside will hold your attention to ransom. In a shifting location heavy with amenities within walking distances, your office days will never be the same.  Each workspace gives you an experiential touchstone that ticks off the seven concepts for a healthier building: Air, Water, Nourishment, Fitness, Comfort and Mind. Comprising open floor plans, picturesque ocean views and polished modern touches, the 475 square meters of individual blue chips with unconventional designs are not just about the space and quirky finishes. Employee health and well being are the name of the game here.  Things you’ll want to know:Generous and flexible office sizesExpanse ground floor retail areaFloor to ceiling windowsProfessional and collaborative environmentMulti-functional areas - dedicated or sharedSpotlessly clean kitchenSelf-serve amenitiesAs far as modern office space trends go, you’ll appreciate the minds behind this manifestation, that has a vocabulary dominated by executive class for every second word.Live the Experience. 2. Get A Whole Lot More Than Just Awesome Waterfront Views  Let Your Imagination Do The TalkingEvery office space at Koki Bay Commercial Center comes with the versatility to deliver the ultimate workspace. Whether it’s a cafe, a gym, a law firm, a fast-food outlet, or even a second-hand clothing shop, your imagination will have a big say in this space.Snuggled inside the Koki Bay Commercial Center, this lengthy 300m2 expanse of dual level workspaces are cleverly characterized by separate bathrooms, smooth tiled-floors and crisp floor to ceiling windows. As part of the property, it is further enhanced by an adaptable parking space and an impenetrable yard. The Koki Bay Commercial Center was completed by Kitogara Limited in 2018, and borders the new Koki Fish Market, the old Koki Market, main Koki bus stop and a Supermarket. Surrounded by a vibrant community that’s seasoned with magnificent waterfront views, you simply can’t pass by without at least being appreciative of this property’s position and business potential. If you’re thinking foot traffic because, alone, it accounts for most of your earnings, well how does a few thousands daily sounds to you? For retailers, it can account for most of their sales. For restaurants, salons, and other services, the visibility they get from a high-traffic location can easily become their number one advertising source - owing to the upgraded sidewalk servicing Healy Road that connects Koki, Ela Beach and downtown Port Moresby, plus the pot shots of age-old shops within walking distance. You’ll find a whole lot more than just waterfront views with this open, collaborative foundation conducive to your private or professional needs. If you’re after value for your money, this is your best bet. Details to note:300m2of versatilitySecurity windowsSecurity alarm systemFully air conditionedServiced propertyFlexible office plan  This quiet and roomy office accommodation has been designed to code and given the flexible floor plan, you can playfully leverage the space to your preferred office or business design.It’s all up for the knowing here. 3. K800 - K850 / sqm, Classic Office Spaces For Rent In A Location Packed With Potential Sky Above, Amenities Surround, Prosperity WithinGordons Business Center has many strengths, but the key aspect here is the ability to offer run-of-the-mill and fully serviced flexible workspaces. The property’s efforts to appreciate the significance of added benefits for employees and initiating the right impression for respective clients are evident in communal break out spaces such as an on-site fast food outlet, extensive secured parking space, and the presence of high profile tenants such as Air Niugini, Daltron, PNG Customs and PNG FM, that are driving strong demand from prospective investors.From K800 - K850 per square meter of high performing individual workspaces, your business is set to have a profound and exciting impact on the property market in Port Moresby, much less stimulate joint efforts and acumen among a talented workforce. The business center’s proximity to the Poreporena Freeway that feeds several roadways renders easy accessibility. Notwithstanding the imminent business opportunities all around, it’s no wonder this area is currently a sought after investment destination in Gordons - a place where routine is a foreign language; where the old is made new again; and where shaking the landscape is the only option to forging new paths. It’s an affordable way to enter the market. In any case, if you are after an unparalleled space to see your business grow or to add value to your investment portfolio, these bread and butter workspaces tick all the boxes, and will be on special offer until December 31st, 2019.Sounds like you? Let us know HERE.  4. K450 - K650 / sqm, Impressive Commercial & Industrial Opportunity In A Growing Landscape Stake Your Claim Newly developing landscapes have the tendency to roll out the red carpet for businesses operating in the area. In terms of providing extremely individualized and personalized services, you only get better at it than what you may experience in a CBD, with your competitors vying for the top spot. So if you’re thinking business in a countryside setting, this may well be your best deal.Along Baruni drive intercepting Boe Vagi is an unassuming enclosure of nine individual warehouses with a total footprint of 2430sqm. A typical scene but this is no ordinary enclosure and these are no ordinary warehouses.Reasonably priced and designed to meet a range of lifestyle, business and investment needs, this exciting launch presents 9 variably sized and impressive high clearance warehouses for sale or lease. Each prides itself with typical modern features for their ages, and are ready to work, play and reward. Dream up an accommodating business or imagine storage slots to rework into the warehouse, whatever the idea, invest in an emerging location. As the numbers add up, this is an opportune time to stake your claim in a growing landscape network for your business, lifestyle or investment needs before the property cycle rolls.The location offers immediate access to Baruni drive, intercepting Boe Vagi and linking up with the wharf and major arterial roads connecting Gerehu, Waigani, and downtown Port Moresby.  What you should know:Individual kitchenette and bathroom fittingsEasy access loading bay and substantial mezzanine levelEase of industrial and commercial cargo movement to and from the wharfEasily accessible to the CBDs and all other business hubs of Port Moresby3 dedicated parking spacesLarge-scale storage/workshop space to enhance a busy lifeEasy loading and delivery maneuverability Click HERE for more insights. 5.  Special: K6585 / Month - Textbook Open Floor Plans At Sumsuma Commercial Center, Cameron Road, Waigani Spacious Entertainer Ready To SubmitEvery so often an office space becomes available surpassing its peers to rewrite a new path filled with suspense. Introducing Sumsuma Commercial Center’s newly renovated office suites for rent. With immediate access to major shopping lots, business houses, public transport and Kina Bank’s Waigani branch along Cameron RD, Waigani, these quality office suites can meet both your personal and professional needs. Set apart by two separate office spaces and evenly tiled flooring that adds prominence to the fantastic views of the surrounding landscape, the layouts are uniquely planned to optimize comfort and efficiency throughout. Decent car parks and an unyielding 24/7 security service ensures a liveable experience.Whether it’s a storage system you imagine, or a 3 to 6 men office team, no matter how you employ them, these spacious entertainers are ready to submit to your specific requests.  Attributes:Common male/female bathroomClose proximity to major CBD - TE PNG, MRO, Daltron, KK Kingston, etcOpposite Boroko Motors, WaiganiFlexible floor plan - encourages collaboration and relaxationBackup water, power and secured car park Special pricing  For only K6585 per month, contact Strickland Real Estate for appointments.

There’s something smooth about visiting real estate shows - and watching experts piece together their equipment for the inquisitive mind, or discuss with prying interests what it is that makes them unique. Even more clever are the moments of reckoning conjured by the quick-draw mcgraws of the event: Crossroads Hotel offered a taste test of their very own avocado chicken sushi, parallel to their lucky draw promotion which included an accommodation for two with free breakfast, a pizza voucher and a cooler bag.Day two of the 2019 Lae Real Estate Show was as exciting as the day before but with a twist. Nothing spelt “twist” better than day two. Post courier had an array of caps, backpacks, water bottles with pouches and cooler bags on display. Their mascot gave everyone a smile through random photo taking and simply having fun.For budding ice cream lovers, Laga Industries kept them busy. Central Mamina, in close proximity, gave visitors a good run for their money with a tasty coffee experience for K5 a cup and a choice of donut or egg sandwich to complete the experience.  PNG Institute of Architects, in affiliation with Lae Biscuit Company, gave away biscuit-filled plastic bags to unsuspecting visitors to their booth, aside from their purposeful exhibitioning. In front, the PNGIA team displayed a model impression of Lae Biscuit Company’s Transient Employee Accommodation among a series of latest visions planned for Lae.    Niugini Electrical was another show-stopper with their unique range of solar powered equipment such as freezers and fridges. Those in remote villages were enthusiastic to know more about how these products function, as they imagined the odd connection between a solar powered equipment, family gathered around a warm fire, and a coleman lamp.  Security Systems even attracted the curious to their home and business security booth, displaying the gallagher monitoring perimeter fencing and a new generation of starlight cameras with improved light sensitivity, and other essential home security tools. Individual exhibitors, on the day, had much to discuss and elaborate on, in order to be fair to their visitors in knowledge and in understanding. While the show was on target with attendees getting a piece of the pie, other participants such as BSP, Eco Housing, PNG Forest Products, Nambawan Super, Atlas Steel, Hausples and MarketMeri had a piece of the recipe, instead. From home loans, to Trimdek for use on roof and external cladding, and all things property relevant, the exhibitors (named) had it all on sight and on paper.The 2019 Lae Real Estate Show happened in a manner that exceeded everyone’s expectations, with aroused interests, more sign ups, and sufficient brand exposure. Every attendee went home with a piece of mind, and that was the bottom line. It was a day of reckoning with a final hurdle to conquer in the coming weeks: exhibitors to convert genuine, potential leads into sales.

If there was a better theme in today’s Real Estate Show at Sir Ignatius Kilage Stadium in Lae, it would be Hausples’ impressive commitment to the Real Estate Industry in Lae and PNG’s most reliable and trusted online real estate portal. Nothing can compare to such dedicated focus, let alone the ability to pull it off.With the first day complete, the exhibitors are geared up for a busy Saturday. The 2019 Lae Real Estate Show took off smoothly with a healthy, and occasionally overwhelming, crowd. More promising were the number of interests into the stadium and in front of individual booths - a telltale sign of how impressive the collective efforts of Hausples has amounted to.In a more delightful manner, few exhibitors had surprises up their sleeves such as Atlas Steel, who showed up with brand ambassador and former Kumul, Brandy Peter, and Niugini Electrical with their solar powered refrigerator and washing machine. Also joining the fun was Crossroads Hotel, who took advantage of the opportunity to do a lucky draw promotion that centered around free Japanese-inspired breakfast, and affordable living spaces as a whole. “All you have to do is write your name, contact details and drop it into a container which we will draw on the final day,” said Max Meta, senior Chef for Crossroads Hotel, who was also pleased with the turnout of day one, in terms of visitors to their booth. MarketMeri shared the same sentiment, witnessing a fair share of crowd that gave them no room for break.Overall, the general mood was tender, full of smiles and moderate yet fantastic networking, which attracted an estimated  1,000 visitors (a 100% increase on last year). Thus, ending day one of the Lae Real Estate Show 2019 on a promising note.We look forward to Day Two.

One location, one event, two days of interaction between real estate professionals and investorsHausples Limited is a pioneer in real estate shows in Port Moresby and Lae, and is returning to Lae on Friday October 4th and Saturday October 5th, to host an expected 2000 plus visitors and exhibitors under one roof at the Sir Ignatius Kilage Stadium. Hausples delivered the first ever real estate show in Port Moresby back in 2017. In the following year, Hausples brought the inaugural event to Lae. As the only real estate show organizer in PNG, Hausples brings together real estate buyers, sellers, developers and agents under one roof to create a one-stop resource center for real estate investing, in that spirit.  “The 2019 Lae Real Estate Show offers an opportunity for Real Estate related companies to exhibit under one roof and showcase their products to the public in Lae,” said Sharon Tanasu Snelling, events consultant for Hausples Limited, and coordinator for the 2019 Lae Real Estate Show. “This also enables the people of Lae City to have the opportunity to meet with financial institutions, superannuation funds, real estate companies and developers at the venue over the two day period.”  Hausples, together with MarketMeri, recently staged yet another successful show, in conjunction with a car show. The dual event tapped into both the automotive and real estate vibrant markets.The two-day show will serve as a “one-stop” center for serious home buyers, developers, kit home providers, leading banks, insurance and superannuation providers. The event is solely sponsored by Hausples Limited. Since the first-ever real estate show in 2017, at the Sir John Guise Stadium in Port Moresby, Hausples continues to provide an avenue for qualified real estate professionals and investors to meet, learn and plan for real estate purchases. “Property prices have been on the decline since the LNG boom, which affects both rentals and sales, and as such you can say that it is currently a buyers market,” said Tom Snelling, General Manager for Hausples Limited, and also a coordinator for the Lae Real Estate Show 2019. “This is good news for buyers, however it is generally acknowledged that property prices in PNG are still comparatively high. We can’t say if prices will continue to fall, but we can say with certainty that, in the long-term, prices will go up.”   CLICK HERE TO REGISTER FREEAboutHausples Limited is a pioneer in real estate shows in Papua New Guinea, and currently manages Hausples.com.pg website, PNG’s most trusted and highly recommended real estate portal. The site lists well over 2,000 real estate properties for sale and rent throughout PNG.Since its establishment in 2017, Hausples has developed a special bond with its clients and partners, mostly in the realm of real estate, such as developers, sellers, buyers and agents, and investors.Anything from properties for sale, to newest developments, to office spaces for lease in Port Moresby, Lae, or around PNG, Hausples provides a wide variety of information you can rely on for all your real estate needs.  Contact info:Name: Tom Snelling, General Manager of HausplesOrganization: Hausples LimitedAddress: PO Box 32, Port Moresby, NCDPhone: +67574700243 CLICK HERE TO REGISTER FREE

A booming real estate industry in PNG due to a double-digit increase in investment demands - for property, land and building - are the motivation behind the 2nd edition of the Lae Real Estate Show in October.Establishing new leads, promoting products and services, and networking often share the same common goals - increase interest, rejuvenate conversions, and build a general audience of devotees. The 2019 Lae Real Estate Show offers the ideal conditions for Real Estate professionals to exhibit their products and services to discerning visitors. And it works best when it’s all planned and executed in one place.This two-day event scheduled for October 4th and 5th will be held at the Sir Ignatius Kilage Stadium in Lae.First-time home buyers may need a lot of guidance. Investors anticipate a lot more data. Most prefer transactional help, lots of interpretation of documents, and assistance with decision-making. This event is all about these and much, much more.The 2018 event attracted dozens of exhibitors, representing major local property developers in PNG, as well as a 1,000+ visitors comprising different ethnic backgrounds. Participants attended the 2018 Real Estate Show to make valuable contacts, explore new markets, exchange ideas with real estate experts, and keep up-to-date with the latest trends and projects. The 2019 Lae Real Estate Show aims to connect exhibitors from major real estate agencies with as many receptive real estate interests looking for investment opportunities in and around Lae.The real estate event hopes to include local leading real estate developers, service providers and financial institutions to offer a variety to visiting interests. WHY EXHIBIT?With the current demand for property, land and building interests across residential, commercial, hospitality and industrial sectors continuing an upsurge trend, a real estate event such as the 2019 Lae Real Estate Show remains a viable source for potential leads. WHY VISIT?There are many good reasons to visit especially if you’re a real estate enthusiast, be it first-time home buyer or investor. This two-day event promises to be highly informative and educational. Network with industry experts in real estate and financial institutions, or learn more about the role of attracting sustainable real estate investment locally and internationally. Whatever it is that appeals to you, visit and be updated. It’s a once-in-a-blue-moon occasion.

It’s always interesting to see hotels keeping up with the ever-fluid nature of modern life, particularly as they are such highly experiential places. Airways Residences is one such place that has gone beyond the stars in enhancing better living around eco-friendly initiatives, and the privileges that supplement the experience. Encompassing over 200 fully serviced Apartments, the design of Airways Residences is in harmony with a natural surrounding landscape outshining the rush of daily life in to a residential retreat. The Residences are considerably larger than standard hotel accommodations, affording sufficient space for relaxation. Designed for both long-term and short-term stays, the Apartments feature one, two, or three bedrooms, each complete with separate living and sleeping areas, that allows you the privacy of conducting your own business or entertainment as you would at home. It’s a provocation of your imagination.Kitchens are equipped with modern and well-maintained appliances, and cooking accessories needed to put together an appetizing meal, in addition to ample rooms to stock your favourite foods. A few Apartments have their own backyards and balconies where Residents can unwind quietly, or engage with other Residents in a one-of-a-kind exclusive ‘Recreation Park’ in Port Moresby, with full access to the neighboring award-winning Airways Hotel that shares the landscape. The residential Apartments are surrounded by lush, manicured grounds with medium high-rise and single level villas spread throughout the grounds, together with thoughtful conveniences such as a mini supermarket, an ATM, pharmacy and medical clinic.Airways Residences excels with high standards in both housekeeping and maintenance, and with its strong community spirit, it is a must-live experience.In sync with the Airways Residences are two ground-breaking expansion projects that are coming soon. Both have the capacity to shock and awe Port Moresby, and even Papua New Guinea: C Residences 8 and Gas City. See www.airwaysresidences.com.pg/DEVELOPMENT.The C Residences 8 and Gas City are the blue-print of Airways Residences etched in fully-serviced luxury apartments, up-market contemporary designs, and brooding lavish amenities. Airways Residences will further become a personal story of magnificence and fulfillment for every visitor who wishes to experience the finer things in life.Discover The Airways Lifestyle...Click on the link below to view the one bedroom, mid-range villas available at Airways Residences: https://www.hausples.com.pg/airways-residences-mid-range-villas/13498/

The status of an iconic building can be vastly personal. However, some buildings reach iconic status without dispute, like the incredibly-impressive Noble Center currently under construction in downtown, Port Moresby. Unprecedented in size and sophistication, the Noble Center is a graceful giant in the skyline, opening up views of the silhouettes of surrounding buildings, and the three major intersections; Stanley Esplanade, Champion Parade, and Musgrave Street. Construction is set to conclude in August, 2019. The building itself is a vertical extension of an entrance lobby, parking, and a multi-functional lounge, in addition to the office spaces at a total height of 95.6 meters.Project ForecastConceived by China Railway Engineering Group (PNG) Noble Real Estate Co. Limited, the structure is a 23-storey nirvana of living, working and recreation worth over K550 million, and dominates a significant portion of land overarching Port Moresby’s Fairfax Harbour. The building sits on a 1,808 square meter of area, enclosed by a construction area of 29,125 square meters (also the gross floor area). The Noble Center was designed to allow for the development of approximately 2 basements, a below ground floor, 23 floors above the ground floor, dual reception areas, and 7 commercial areas. This graceful giant sits adjacent to the IRC Building, and between the ANZ Bank, Kina Bank, Bank of PNG, and the Harbourside West and East buildings on the fringes of Fairfax Harbour. The overall design and outlook of The Noble Center from the Fairfax Harbour looking in gives it an organic feel that blends the surrounding environment. Building AttributesSeveral prominent attributes contribute to The Noble Center’s unique structure. Chief among them are the vertical landscaping concept, automatic physical sun-shading, and tenancy access control. Vertical Landscaping ConceptOtherwise known as the Green Concept is the theory, science and style of buildings designed and constructed in accordance with environmentally friendly principles. Concurrently, The Noble Center is utilizing this theory to effect with its vertical gardens visible throughout its structure, and comprises a living tapestry of plants and flowers found locally. This concept has become a worldwide trend and is aimed at addressing IEQ and employee health concerns with a healthier building environment.Automatic Physical Sun-shadingDue to the often dry and humid weather of Papua New Guinea, and the exposure of The Noble Center to direct sunlight, this concept was considered as a measure to control the peak of building heat. The shading device also achieves two objectives in addition to dramatically keeping heat at a minimum.  It improves user visual comfort by controlling glare and reducing contrast ratios, and offers the opportunity of differentiating one building facade from another. This can provide interest and human scale to an otherwise undistinguished design. Tenancy Access ControlThe security of a building and its tenants is of paramount importance. High tech security systems relevant to a building’s design should be considered to ensure a safe and secure location for its occupants. With this in mind, The Noble Center has in place what it terms as a tenancy access control. The system allows tenants to access only their office, the floor on which their office is located, the lift, level 8 and the car park area. It’s the first layer of defense against unwanted visitors. Maintaining the access control system database in line with the tenants wishes is the foundation to the system’s integrity. As a safeguard to only allow the right people to enter the tenants’ offices, the security device is managed through a condensed access control system.AmenitiesThe Noble Center will incorporate a variety of cafeteria concepts and retailing with local and international starters, and modest prices to select.Tenants will enjoy all the amenities that come with occupying this graceful giant in the skyline of downtown, Port Moresby. As well as other additional exclusivities that are iconic, only, to this unique landmark structure - the tallest in Papua New Guinea and the pacific as a whole.For more information, you can visit: https://www.hausples.com.pg/the-noble-center/13448/ or www.hausples.com.pg

More than 10,000 visitors are expected to attend The Home and Car Expo 2019 at the Sir John Guise Stadium this Friday and Saturday, June 21 to 22. The annual event is an opportunity for people to have access to a "one-stop shop" in, especially, the real estate industry. It gives attendees a chance to experience first-hand what’s new and trending, in addition to a safe and friendly environment without the hassle of long lines and busy schedules. This year, however, Hausples and MarketMeri have decided to bring in the automotive industry parallel to its show for 2019, hence the home and car show. This aligns with popular requests by clients in last year’s 2018 Real Estate Show, and has achieved the status of being the First Car Show in PNG, rewriting the aphorism “The More, The Merrier” to “Even Bigger, Even Better.” Here’s why:ExhibitorsThis time around, not only is the show intriguing for the real estate leaders, but also the who’s who of related industries, to which the likes of Pacific Palms Property, Bank South Pacific, China Railway Construction Engineering Real Estate Co. Limited (CRCEG) and Nambawan Super have each secured a spot. The other confirmed exhibitors include:Airways Residences, Century 21, Kupiane Management Services, EDAI Town and the Real Estate Industry Association representing the Real Estate sector. A large portion of the building industry will also serve the purpose of this event, and is spoken for by PNG Forest Products, Rhodes PNG, Red Sea Housing, Monier, Primus, Hardware Haus, Atlas Steel, Global Kit Homes and Stratostream. The Banking & Finance sector encompasses Trans Pacific Assurance Ltd, NSL, Kina Bank, Fincorp, Westpac, and First Investment Finance Limited, who will be joining both BSP and MoniPlus. The outdoors in front of the indoor complex will be dominated by the automotive industry: Ela Motors to take centre stage with the launching of their latest RAV-4s and HiAce buses. Motorist Mart, the sole distributor of the Futon vehicle models in PNG, will unveil their brand new fleet alongside a range of vehicles and services by 2-Fast Motors and Freeway Motors. AutoParts Online, Terrain Tamers for the 4WD enthusiasts, and Color Studios showcasing their vehicle wrapping, will be close at hand. As well as Islands Petroleum with a variation of fuel and lubricant needs. The security and tracking sector will entail a comprehensive list of security-oriented products and services by Corps Security, Rapid Response, and SecurityPlus.  Additional exhibitors constitute Pacific Foam, Post Courier, Pure Water, Aspen Medical and Lightspeed Internet, going side by side with Post PNG, Telikom, Womens Resource Centre, PNG SME Magazine, RSPCA and PNG Institute of Architects. SP Brewery have also registered with a tent to promote their When You Drive, Never Drink campaign, next to an outstanding 4 Wheel Drive display, also outdoors.SeminarsAt the heart of the Home & Car Expo 2019 are the seminars. A definitive business opportunity for clients and exhibitors to interact, in order to better understand each others’ needs and wants, and gain additional insights into factors affecting decision-making on both sides of the spectrum.Industry experts like Tom Snelling (Hausples Limited), Daniel Berry (REIA), and Kili Tambua (BSP) will be joined by John Leahy (LLLS), Linda Garo (TPAL), Kym Yong (EDAI Town Ltd), David MacKenzie (Rhodes PNG), and Yawetau Salem (Kina Bank) in the panel discussions. The expert speakers will cover specific subjects such as stratos titles, house pricing, and home loans. Supplementary topics will take on affordable housing and finance, building techniques, and home security. The panel discussions are interactive and public participation is greatly encouraged.FM 100’s Cullighan Tanda will host and moderate the seminars.The seminars will take place in the foyer and will be live streamed to the exhibition area. Access is available between the Rhodes and PNG Forest Products booths and entry is free. Show and ShineA Motor Show is not complete with a Show and Shine; a display of unique and modified cars in PNG. Porches, BMWs and Mercedes to highlight the show and shine plus heaps more.Amenities Creche or Kids’ CornerGiving parents an extra hand with childcare while they explore the show, was a special consideration for the Home & Car Expo 2019.  An area has been allocated for children to relax and be entertained under the professional supervision of PlayStation.A bouncy castle will also add to the kids’ entertainment. Food StallsHausples and MarketMeri had to ensure the event runs smoothly and safely for attendees when eating. Clean, spacious food stalls will count towards this initiative. Modelling the food stalls are Fab Catering, Food Station, Paradise Foods, Central Mamina Fresh Coffee and Italian Gelato, plus other smaller outdoor cafeterias. SecurityThe safety and security of visitors and exhibitors is a key concern for the planners, and this will be overseen and managed by SecurityPlus. Security personnel to be strategically placed inside and out. Visitors will be checked on entry, and weapons of any kind are strictly prohibited.CCTVs will feature throughout various angles of the indoor and outdoor arenas. It’s a counter measure by the organizers in ensuring a high level of safety and security for both visitors and exhibitors. EmergencyIn the unlikely event of a medical emergency, Aspen Medical will have trained professionals and an ambulance on standby. Registration DesksA vital component to the success of any event are the visitors. This is why the Home & Car Expo 2019 has registration desks at the entrances. Registration is free, and if you haven’t registered yet online, you can still register upon arrival. On the whole, this Friday 21 and Saturday 22, suspense will end, anticipation will conclude, and understanding begins. It’s the “Even Bigger and Even Better” exposition for real estate in 2019. The show starts at 9am and ends at 4pm. Again, entry is free, and everyone is welcome.Hausples Limited wishes to extend its gratitude to the Sponsors, Exhibitors and Media Partners who have made this event possible.

BSP PNG | THE Home & Car Expo is set to be bigger and better this year with the backing of Diamond Sponsors such as Bank South Pacific (BSP) who chipped over K49,000 for this event scheduled for Friday 21st to Saturday 22nd June, 2019, in Port Moresby.Staged by Hausples, it will once again be held at the Sir John Guise Stadium Indoor Complex. With the added feature of the Car Expo, which will be staged outdoor, this event is set to provide potential Home and Car owners all the necessary information on how to go about owning a home or buying a car.In receiving the BSP sponsorship commitment, Hausples General Manager Tom Snelling said, the show will continue to offer agents, developers and those related to the property industry, the chance to exhibit to a large local and international audience of buyers, renters and investors.“As PNG’s leading bank and provider of home loans, BSP’s presence is very important to the show.  The financial side of Real Estate is one of the biggest challenges that face every potential home buyer and it is critical that they understand exactly what options they have,” said Mr Snelling.In presenting the K49, 025 sponsorship cheque, BSP Area Manager – NCD, Natasha Sirimai, said that her team from the NCD branches will be available during the two days to showcase and provide information on BSP’s Home Loan and First Home Ownership Loan products available to the public.“We can also do initial pre-assessment for customers at the expo and provide advice,” said Ms Sirimai. “Visitors to BSP’s Booth and fellow exhibitors will also have the opportunity to open personal accounts and to learn more about BSP and its various products and services through face to face conversations with our team on site who will be happy to assist.”BSP’s Deputy General Manager – Sales & Customer Service, Kili Tambua will also be part of a panel of discussion and will highlight BSP’s Home Loan products during this session on Friday 21st June, 2019, at 11 am.