The residential real estate sector has soared in recent years, as the government wrapped up construction on the $19bn PNG liquefied natural gas (LNG) project in Port Moresby. With rents and home prices showing a sharp increase, there is a growing concern that home ownership remains out of reach for the average citizen. If the strong GDP growth projections for 2015 are...
Although Papua New Guinea’s construction sector contracted in 2014 after a four-year boom from the massive PNG liquefied natural gas (LNG) project, industry growth is expected to pick up again in 2015. New petroleum revenues are set to support the government’s sizeable infrastructure investment programme, which will see major improvements to roads, ports and airports,...
First-time and low-income homebuyers in Papua New Guinea face significant obstacles to property market entrance. A five-year construction boom due to the recently completed PNG liquefied natural gas (LNG) project placed upward pressure on inflation, rents and property prices, while the nation remains one of the poorest in the Pacific, putting homeownership out of reach...
Divided by ridges of high mountains and dense with tropical rainforests, Papua New Guinea has some of the world’s most difficult terrain to traverse. The country also possesses around 800 islands, with much of its 6500 km of coastline only accessible by sea. Thus, transport and logistics in the country has long been a major challenge. Still, much of the country’s overall...
Some 15 of PNG’s 22 provinces are coastal or island provinces, with these regions also home to around 60% of the country’s inhabitants. Thus, road links outside the main cities are sparse, and commercial and passenger traffic from the periphery to the country’s urban centres is often done by sea. Furthermore, PNG occupies a strategic position on north-south routes...
According to the International Telecommunication Union, only 6.5% of Papua New Guinea’s population uses the internet, with those accessing internet services via a fixed-line connection standing at just 1%. One of the factors behind low penetration has been a lack of network availability outside of the main cities, where around 80% of the...
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