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Chinese investment and mining driving property prices but Port Moresby, Papua New Guinea, world's second least liveable city
According to a new report released byThe Economist, Papua New Guinea is ranked as the second least liveable city int he world.
The magazine explains the low ranking of Papua New Guinea as a combination of poor healthcare, lack of developed infrastructure, lower quality of education, and an unstable government.
However, Papua New Guinea has in recent times seen a large inflow of foreign investment, particularly from Chinese investors, due to its strong growth in the mining sector.
With continual devlopment within Papua New Guinea, there has been progress and growth seen. Tthe median price for houses is around $670,000 and for apartments it’s around $200,000.
Read more from this story on The Property Observor.
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