PNG Investors Top Of The List
PAPUA New Guinea residents are the largest foreign investors in the Far North, according to the latest figures from the Registrar of Titles.
They bought commercial, residential and other property worth $4.5 million out of $16 million of foreign purchases in the last financial year.
Next on the list was the UK ($3.5 million), NZ ($2 million) and Japan ($1.9 million).
Other notable buyers were from the Czech Republic ($680,000), Greece ($530,000), Hong King ($491,470), Argentina ($490,000) and Malaysia ($394,300).
Hong Kong residents own the largest amount of land (1116ha) followed by Belgium (492ha), the UK (352ha), Japan (278ha) and China (91ha) while UK investors own the largest number of land parcels (257) followed by Japan (214), NZ (212) and PNG (101).