The Marape Government by way of responding to the country’s need for housing passed the Strata Title Management Bill on the floor of Parliament in last Wednesday’s (March 23rd) sitting.
Coupled with the high cost of living especially in the Nation’s capital, Port Moresby, among other things, housing in PNG remains a major concern for many Papua New Guineans and every year the need for more affordable housing increases.
According to Prime Minister James Marape, as there is shortage in land and given the high rise in the population, the Strata Title Management Bill allows for people to buy units and apartments in high rise buildings.
“This law was first talked about 20 years ago,” PM Marape said.
“It may seem just like any ordinary Act of Parliament that we’re passing today, however, far that.
“This has a direct value on the economy.
“If one person owns a piece of real estate in an urban area and decides to build a 20-floor building, in which you can find over 60-70 units, these can be individually titled out.
“You don’t need to own a piece of land to have title to an apartment that you can call as home.”
The PM reiterated that the passing of this law aims to modernize some of the legacy issues that the country has carried throughout the years and commended Lands and Physical Planning Minister, John Rosso as well as thanked both sides of Parliament for enabling this new law.
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