Business News

Yumi Yet Real Estate Director: Reduce Real Estate Prices

by Mickey Kavera – EM TV, Port Moresby

A local businessman has raised concerns over the unregulated real estate sector in Papua New Guinea.

Managing Director for Yumi Yet Real Estate, Eke Lama, says the price of houses are unrealistic.

He says many Papua New Guineans are living on the margins of society with poor housing due to high rental prices.

Eke Lama has been involved in real estate for over 15 years and has seen the struggles of many Papua New Guineans trying to afford a house or rental property.

He owns 548 units and houses, including two lodges.

On Saturday last week he opened his newly built 67 room lodge, which is part of the Peai Lodge.

His aim in the future is to ensure all Papua New Guineans have decent housing to contribute to their well-being in the future.

He says the government must address this issue now before it’s too late.

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