Brunei residential property price down 3.9pc y-o-y

Autoriti Monetari Brunei Darussalam (AMBD) yesterday published Brunei Darussalam’s Residential Property Price Index (RPPI) for the third quarter (Q3) of 2020.

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

In Q3 2020, the RPPI was at 91.7, showing a decrease of 3.9 per cent year-on-year (y-o-y) compared to Q3 2019, and an increase of 8.4 per cent quarter-on-quarter compared to Q2 2020.

Based on the mortgage data obtained from the banks, there were 182 transactions for residential properties in Q3 2020, compared to 115 transactions in Q2 2020. The majority of these transactions were for detached houses (53.9 per cent); followed by semi-detached houses (19.2 per cent), terrace houses (17.0 per cent): apartments (6.0 per cent), and land (3.9 per cent). The median purchase price for all types of residential properties was BND240,000 in Q3 2020, lower by 7.7 per cent compared to Q3 2019 and higher by 0.8 per cent compared to Q2 2020.

The median purchase prices for specific types of properties were BND266,500 for detached houses: BND248,000 for semi-detached houses, BND208,800 for terrace houses BND215,000 for apartments, and BND152,000 for land.

The published statistics and index should be treated as general information only and one should not rely solely on 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.