New survey provides invaluable insight into Papua New Guinea’s commercial market

Welcome,

Hausples has published the results of the 2022 Papua New Guinea Commercial Real Estate Survey, the first of its kind in the country.

The PNG Commercial Real Estate Survey 2022 is free to download.

Following the positive response to the sixth edition of the yearly PNG Residential Real Estate Survey, Hausples is delighted to share the results of the 2022 PNG Commercial Real Estate Survey, the first of its kind.

The survey provides valuable insights into PNG’s commercial property market, focusing on both commercial property owners (who are usually also business owners) and on commercial property seekers.

The first part of the survey includes responses from individuals that own or rent a commercial space to run their business, focusing specifically on commercial offices, retail, industrial and hospitality spaces. This provides invaluable information about the impact of COVID-19 on businesses, the introduction of work from home (WFH) policies, past and projected sales, staffing and the digitisation of operations.

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The second part of the survey addresses the current sentiment of commercial property seekers, showcasing demand and supply distribution by property type and suburb in PNG. It also provides time frames for buying or renting and general preferences in the market.

Some interesting sentiments have emerged from the survey such as:

  • Seventy-two per cent of businesses have less than 10 staff and that 33 per cent of all businesses expect to increase their workforce by more than five employees over the next few months.
  • Data also indicated that most property seekers are looking for ‘retail’ spaces versus ‘office’ spaces, which could be an unexpected outcome for some people in the industry.

It’s also interesting to see that Waigani is the preferred location for both those looking at office and retail spaces. But things look different if you’re searching for a ‘hospitality’ space.


Advertiser:  Hausples

Website: https://www.hausples.com.pg
Email: 
Phone: +675 74700243