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« How the few dominate the many: Stalin, Mao, Trump & PNG | Main | Obesity & its impact on deaths from lifestyle diseases in PNG »

09 February 2017

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Are you sure the abundance of new residential apartments will not be soaked up by the influx of foreign project personnel?

Obviously it is. There needs to be more expatriates on the demand end to keep the supply in balance. Don't forget that most of PNG's working population lives in settlements.

How about the Korean palace development thing at Gabutu?


No Ben, there won't be any deserted compounds and apartments. Low wage earners will live there.

Currently they are living in the squatter settlements.

Interesting projects indeed...while trucking companies are struggling to negotiate up the Okuk Highway to keep the mine pits and gas and oil fields open.

More and more Americanisation of our culture using credit.
Have any of these developers ever read One Hand Clapping by Anthony Burgess.

It will be very interesting to see what happens to some of the older apartments in a post-APEC POM.

With a few exceptions, these apartments are only accessible to expatriate workers and, unsurprisingly, property managers set the rental prices according to the rental allowances guaranteed under the Aid Adviser Remuneration Framework.

Already there is a huge oversupply of these apartments in Port Moresby, especially at older apartment blocks that are refusing to budge on their prices to readjust to the equilibrium.

Something will have to give as expats flock to the brand new buildings in 2019 leaving deserted compounds and apartments all over the city.

The future is bright and shiny in Port Moresby... obviously.

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