Brunei RPPI decreases 8.7pc y-o-y in Q4 2018

AUTORITI Monetari Brunei Darussalam (AMBD) yesterday published Brunei Darussalam’s Residential Property Price Index (RPPI) for the fourth quarter of 2018.

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

In Q4 2018, the RPPI was at 86.7, a decrease of 8.7 per cent year-on-year compared to Q4 2017 and an increase of 1.5 per cent quarter-on-quarter compared to Q3 2018.

Based on mortgage data obtained from banks, there were 129 transactions for residential properties in Q4 2018.

The majority of these transactions were for detached houses (56.6 per cent), followed by terrace houses (19.4 per cent), semi-detached houses (15.5 per cent), apartments (7.7 per cent) and land (0.8 per cent). The median purchase price for all residential properties was BND252,000 in Q4 2018. The median purchase prices for specific types of properties were BND280,000 for detached houses, BND245,000 for semi-detached houses, BND245,000 for terrace houses, BND240,000 for apartments, and BND305,000 for land.

The overall median purchase price of residential properties in Q4 2018 decreased by 5.6 per cent year-on-year compared to Q4 2017 but showed an increase of 0.8 per cent quarter-on-quarter compared to Q3 2018.

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.

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