Autoriti Monetari Brunei Darussalam (AMBD) yesterday published Brunei Darussalam’s Residential Property Price Index (RPPI) for the first quarter of 2020.
The index is compiled using data sourced from banks in Brunei Darussalam, and is published with close cooperation from the Ministry of Development, in particular the Authority for Building Control and Construction Industry (ABCi).
In Q1 2020, the RPPI was at 91.1, a decrease of 0.5 per cent year-on-year compared to Q1 2019 and a decrease of 4.3 per cent quarter-on-quarter compared to Q4 2019.
Based on mortgage data obtained from banks, there were 76 transactions for residential properties in Q1 2020. The majority of these transactions were for semi-detached houses (32.9 per cent), followed by detached houses (30.3 per cent), terrace houses (18.4 per cent) and apartments (18.4 per cent). There were no transactions for land in Q1 2020.
The median purchase price for all types of residential properties was BND249,000 in Q1 2020, showing an increase of 1.6 per cent compared to Q1 2019, and decrease of 3.5 per cent compared to Q4 2019. The median purchase prices in Q1 2020 were BND300,000 for detached houses; BND260,000 for semi-detached houses; BND176,750 for terrace houses; and BND232,000 for apartments.
The published statistics and index should be treated as general information only and one should not rely solely upon these data to draw specific conclusions on a particular residential property as property values vary with location, land size, floor area and so on.
For more information on RPPI, members of the public may refer to the technical notes on the methodology and statistics which can be obtained from the AMBD website at www.ambd.gov.bn and follow updates on RPPI through AMBD’s Instagram account @autoriti_monetari.