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Brunei’s Residential Property Price Index goes up 9.8pc
Autoriti Monetari Brunei Darussalam (AMBD) yesterday published Brunei Darussalam’s Residential Property Price Index (RPPI) for the fourth quarter of 2019.
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 2019, the RPPI was at 95.3, an increase of 9.8 per cent year-on-year compared to Q4 2018 and a decrease of 0.2 per cent quarter-on-quarter compared to Q3 2019.
Based on mortgage data obtained from banks, there were 111 transactions for residential properties in Q4 2019. The majority of these transactions were for detached houses (45.05 per cent), followed by semi-detached houses (24.32 per cent), terrace houses (18.92 per cent) and apartments (11.71 per cent). There were no transactions for land in Q4 2019.
The median purchase price for all residential properties was BND258,000 in Q4 2019.
The median purchase prices for specific types of properties were BND285,000 for detached houses, BND271,000 for semi-detached houses, BND225,000 for terrace houses and BND223,000 for apartments.
The overall median purchase price of residential properties in Q4 2019 was higher by 2.4 per cent compared to Q4 2018 and slightly lower by 0.8 per cent compared to Q3 2019.
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, members of the public may refer to the technical notes on the methodology and statistics which can be obtained from the AMBD website at www.ambd.gov.bn and follow updates on RPPI through AMBD’s Instagram account @autoriti_monetari.
Source: https://borneobulletin.com.bn/bruneis-residential-property-price-index-goes-up-9-8pc/