Housing cost unaffordable

By PATRICK PANUA

THE cost for purchasing a property including house and land in the country by a simple public or private worker from the private Real Estate firms is unaffordable.

Duran Farm Housing Project General Manager, John Kume pointed out that real estate firms in Papua New Guinea are selling their complete set of house with land title worth more than K650, 000 which is very expensive to afford by the middle class workers.

Mr Kume said the good news for the people is that National Housing Project (NHP) is building affordable housing across the country for public and private workers at the cost of K350, 000 only for standard houses with three bedroom and land title.

“We are looking at affordability and are selling the houses to our nationals at cheap price with the help of Bank South Pacific’s K200million national housing loan scheme established by the Government through the bank,” he said.

He said the government through the NHP is rolling out 40,000 houses with the first project to be Duran farm project.

He added that the successful completion of the Duran project will be the stepping stone for the other projects to take place around the country.

The other projects to be followed after Duran will be one at the back of National Research Institute, Gerehu stage 3b, 4b, 7a than the Humi in Lae, Madang, Jiwaka and Keveing.

“To set precedence in the project, we do not want to see Duran fail,” he said.

He said Duran as one of the leading multimillion government funded project under National Housing Corporation is progressing very well with all the civil works are up to standard and the road alignments were done properly.

He said the water system is half way about 250 meters from Mcgregger Barracks to the project site and the sewerage is also next to the Eda Ranu sewerage ponds.

“We are only waiting for the next trench of K3.5million from the government to connect the services.”

 

 

 

 

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