Affordable houses at Edai Town: Director

First home owners are encouraged to check out houses at Edai Town, outside Port Moresby.

Director for Edai Town development, Kym Yong, extended the invite during their annual Christmas fair on Saturday, December 2.

The First Home Ownership Scheme by the Edai Town Development Ltd and Bank South Pacific offers affordable houses for first time home owners.

The town is located 20 kilometres outside of Port Moresby.

Kym said the Christmas fair was an opportunity for first time home owners to get first-hand information about owning a home through the home ownership scheme.

The house and land packages start at less than K360,000. This covers an affordable entry level, fully outfitted, quality built three-bedroom double-storey townhouse.

She said while they have high end houses, they are promoting affordable houses.

Team leader for sales lending at Port Moresby BSP branch, Jenny Joel Kaniku, said this particular product is for people who want to purchase a house and live in it; it’s not for rental.

“The first home ownership is open to all public and private employees, especially for those who are on a regular income,” Kaniku said.

However, to be eligible for this product, you have to be a natural citizen of PNG, do not own an existing property and you must be a first time home buyer employed by a public or private sector.

Meanwhile, there is a lawyer who helps buyers understand contract documents of the investment process.

 


Author: 
Tracey Parr