Papua New Guineas have been encouraged to look at purchasing investment properties in Cairns, Australia.
A Cairns property investment seminar took place in Port Moresby overthe weekend, where an Australian real estate company, Australian First Realty emphasizedthe ease with whichtheir services allow for Papua New Guineas to purchase property in Cairns.
The team of professionals included a lawyer, builder, banker, an Immigrations Specialist,PNG finance company owner, andthe Managing Director, Robert Smith, a realtor himself.
Mr Smith said that currently in Cairns,the rental property demand is high with a 1-2% vacancy rate. He said this gives Papua New Guineas an ideal opportunity to invest in various types of property ranging from land and house package deals, to commercial properties.
Putting a face to success, Maprik businessman Roy Ningakun and his wife Mien attended Australian First Realty’s first seminar last year in August.Interested in that presentation,they followed Smith back to Cairns wherethey were able to pick up a beatch-side investment property within days.
So far thirty Papua New Guinea investors have purchased property through Australian First Realty.