Morobe Governor, Kelly Naru, says he will push for new legislation to regulate housing rentals.
This comes as concerns grow over high rentals in Papua New Guinea#39’s industrial hub that is forcing more people into settlement areas. “I will push for a legislation that will put a ceiling on what people can charge,” He said.
Governor Naru was responding tothe outcry from middle-income earners in Lae City who were being forced out of suburbs and into settlements where basic amenities are largely absent.
Small property owner, Mus Palang, who owns several rental homes out inthe Bandi Camp area, also saidthe government’should regulate rental prices.
“The government’should create policies to helpthe middle-income earners,” said Palang.
BetIndustry representatives say supply and demand determinesthe rental rates of houses in Lae City and it cannot be regulated.Land:hortages are a problem with no space to build more affordable homes.
“The industry can’t be regulated since rental rate are determined by supply and demand,” said Mike Quinn ofthe Real Estate Association.
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