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Brunei
Tuesday, November 29, 2022
22.5 C
Brunei
Tuesday, November 29, 2022
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    Property index shows year on year drop of 0.9 per cent in Q2

    The Brunei Darussalam Residential Property Price Index (RPPI) showed a decrease of 0.9 per cent year-on-year in the second quarter (Q2), said the Brunei Darussalam Central Bank (BDCB).

    In Q2 this year, the index was at 93.1, which was also a 5.4 per cent increase when compared to the first quarter (Q1) this year, according to the central bank.

    There were 130 transactions for private residential properties in Q2 this year, based on banks’ mortgage data. This was a 4.8-per-cent increase compared to the Q1 and a 23.8 per cent change year-on-year. The majority of the transactions were detached houses (54.6 per cent) followed by terrace houses (19.2 per cent), semi-detached houses (18.5 per cent), apartments (5.4 per cent); and land (2.3 per cent).

    The overall median purchase price for all types of private residential properties was BND249,500 in Q2 this year, a decrease of 10.9 per cent year-on-year.

    The RPPI is published by the BDCB using data sourced from banks in the country, and with cooperation from the Authority for Building Control and Construction Industry (ABCi), Ministry
    of Development.

    RPPI measures the rate at which prices of private residential properties purchased by households are changing over time.

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