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What is the best city in PNG to buy

Discussion in 'Buying Overseas Property' started by clayton, Sep 16, 2006.

  1. clayton

    clayton New Member

    Hello all,
    I'm a small time investor
    I broke my neck 8 yrs ago so I can't afford to loss any money

    I?m looking for a mentor who could give me some good advice about investing in the PNG property market

    Which city is best
    What type of property should I buy
    ect

    if you could help me with any info I would be very grateful
    Regards
     
  2. connor

    connor New Member

    Hey Clayton,
    From what I gather, investing in PNG has several differences compared to Australia:

    - High yield / rental income - so it's probably going to be positive cashflow
    - Probably a bit higher maintenance
    - Loan in PNG as far as I know is only for short term, 5 years, maybe 10 max - which negates the positive cashflow here
    - You don't own the land here, just the property. The land is owned by the gov and you are given the title / lease for I think 99 years.... but when you purchase a property this might have less to go, so this is something to look out for.... I don't know how much to renew the title / lease. If someone can explain a bit better, please jump in.
    See you again
     
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