Brunei residential property price down 5.2pc y-o-y

Autoriti Monetari Brunei Darussalam (AMBD) yesterday published Brunei Darussalam’s Residential Property Price Index (RPPI) for the second quarter (Q2) of 2020.

The index is compiled using data sourced from the banks in Brunei and is published with close cooperation from the Ministry of Development (MoD), in particular the Authority for Building Control and Construction Industry (ABCi).

In Q2 2020, the RPPI was at 84.6, recording a decrease of 5.2 per cent year-on-year (y-o-y) compared to Q2 2019 and a decrease of 7.1 per cent quarter-on-quarter compared to first quarter (Q1) of 2020.

Based on the mortgage data obtained from the banks, there were 115 transactions for residential properties in Q2 2020 compared to 76 transactions in Q1 2020.

The majority of these transactions was for detached houses (43.5 per cent); followed by semi-detached houses (26.1 per cent); terrace houses (16.5 per cent); apartments (10.4 per cent); and land (3.5 per cent). The median purchase price for all types of residential properties was BND238,000 in Q2 2020, showing a decrease of 8.5 per cent compared to Q2 2019, and a decrease of 4.4 per cent compared to Q1 2020.

The median purchase prices for specific types of properties were BND247,500 for detached houses; BND272,000 for semi-detached houses; BND165,000 for terrace houses; BND234,000 for apartments; and BND80,200 for lands.

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, refer to the technical notes on the methodology as well as updated statistics on AMBD’s website at www.ambd.gov.bn.