I have been out of blog-action in the last couple of months. I had to leave my old job and have since relocated back to POM City and am now with a new firm.
Since moving to Port Moresby, it has been a daily struggle to find decent accomodation at a reasonable rate. The prices of rental properties in Port Moresby have increased by 100 - 300% at the most! It is next to impossible to find a decent 2-3 bedroom flat/house with a price range of K1000 - K1500 per month.
Real Estate agents here are making a big killing from the commission's that they get from sales and rentals... most have rental listings for properties starting at K500 per week which equates to K2000 per month. And that is for a single bed-sitter or a 1 bedroom flat in Gerehu stage 3 or Tokara or someplace like that. When the location is Boroko, Gordons, Town or Hohola, the prices are inflated to K1000 - K2000 per week for the same type of dwelling.
The property market here is unregulated and is at the mercy of the property owner's as well as the real estate agents...
I am seriously thinking about starting a blog site for home owner's in Port Moresby to advertise their properties if they are thinking of renting/selling. It would all be free and would be listed until it is taken. At the same time, other's who are looking for properties to rent/buy can also put up notices to that effect. This whole process would eliminate the middle-man, cuts down on commission and reduces the rental/sale price so it is affordable to both parties. Any thoughts in support of or against this idea would be most welcome.
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