A. Legal and Regulatory Framework
A.1 Legal and Regulatory Framework
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Basis of the legal system: Civil, Common, Islamic, Other? (Describe) | Mixed system of English Common Law and Customary Law | Mixed system of English Common Law and Customary Law | Mixed system of English Common Law and Customary Law | A.1.1 | |
| Are there specific laws that deal with mortgages? | Yes | Yes | Yes | Papua New Guinea Land Laws and Economic Development Handbook | A.1.2 |
| Registration/Transfer of titles: | A.1.3 | ||||
| Does the law clearly define different types of property rights? | Yes | Yes | Yes | A.1.3.1 | |
| Typical number of days needed for the transfer of title | 72 days | 72 days | 72 days | WDI | A.1.3.4 |
| Is there specialized legislation covering: | A.1.9 | ||||
B. Housing Finance Subsidies
B.1 Subsidies to Housing Finance Institutions
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Are there subsidized funding sources for mortgage lenders? | Yes | Research | B.1.1 |
B.2 Subsidies to Households
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| Are there subsidies to households on housing finance? | Yes | Yes | B.2.1 | ||
| Interest rate subsidies by special government funds | Yes | Yes | B.2.1.1 | ||
| Other | Yes | Yes | B.2.1.6 | ||
| Reach of subsidies in 2.1.1 to 2.1.4 ? | B.2.2 | ||||
C. Taxation
| Variable | End of 2015 | End of 2014 | End of 2013 | Sources | Var ID |
|---|---|---|---|---|---|
| What taxes apply to Residential Real Estate? | C.1 | ||||
| Tax on property (home-owners) | No | C.1.1 | |||
| Property transaction taxes (purchase/selling) | Yes | C.1.2 | |||
| Tax on capital gains on property | No | C.1.5 | |||