Autoriti Monetari Brunei Darussalam (AMBD) yesterday published Brunei Darussalam’s Residential Property Price Index (RPPI) for the fourth quarter of 2020 (Q4 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 Q4 2020, the RPPI stood at 90.6, showing a decrease of 4.9 per cent year-on-year compared to Q4 2019, and a decrease of 1.2 per cent quarter-on-quarter compared to the previous quarter (Q3 2020).
Based on the mortgage data obtained from the banks, there were 131 transactions for private residential properties in Q4 2020, compared to 182 transactions in Q3 2020. The majority of these transactions were for detached houses (53.4 per cent); followed by semi-detached houses (19.9 per cent); terrace houses (18.3 per cent); apartments (3.8 per cent); and land (4.6 per cent).
The median purchase price for all types of private residential properties was BND245,000 in Q4.
2020 – lower by five per cent compared to G4 2019 and higher by 2.1 per cent compared to Q3 2020.
The median purchase prices for specific types of properties were BND289,000 for detached houses; BND250,000 for semi-detached houses; BND202,500 for terrace houses; BND210,000 for apartments; and BND75,000 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 private residential property as property values vary with location, land size, floor area and so on.
For more information on RPPI, the public can refer to the technical notes on the methodology, and updated statistics from the AMBD website at www.ambd.gov.bn.