Deputy Prime Minister and Minister for Lands, John Rosso, recently unveiled a new government initiative to make affordable housing accessible for middle-income earners.
The minister, while speaking at a recent Lae business community event, said this new program introduces strata titles, allowing individuals to own units in multi-unit complexes while sharing ownership of communal areas.
Under this model, property owners will receive a title for their unit and join a corporate body to manage shared spaces and regulations.
He also highlighted that the initiative could boost homeownership and financing options, following successful models from Australia and New Zealand.
Furthermore, he stated that the Lands Department will soon roll out electronic titles to enhance transparency and security.