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Brunei’s RPPI drops to 89.2 for Q2
Brunei Darussalam’s Residential Property Price Index (RPPI) was at 89.2 in Q2 2019, a decrease of 1.6 per cent year-on-year compared to Q2 2018 and a decrease of 2.5 per-cent quarter-on-quarter compared to Q1 2019.
Autoriti Monetari Brunei Darussalam (AMBD) published the RPPI for the second quarter of 2019 yesterday.
According to a press release, 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).
The press release stated that, based on mortgage data obtained from banks, there were 122 transactions for residential properties in Q2 2019.
The majority of these transactions were for detached houses (49.2 per cent), followed by terrace houses (24.6 per cent), semi-detached houses (19.7 per cent), apartments (4.9 per cent) and land (1.6 per cent).
It was also shared that the median purchase price for all residential properties was BND260,000 in Q2 2019. The median purchase prices for specific types of properties were BND286,000 for detached houses, BND268,000 for semi-detached houses, BND198,000 for terrace houses, BND326,000 for apartments, and BND125,000 for land.
The overall median purchase price of residential properties in Q2 2019 was the same as Q2 2018 but showed an increase of 6.1 per cent quarter-on-quarter compared to Q1 2019.
The press release added that the 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.
Source: https://borneobulletin.com.bn/bruneis-rppi-drops-89-2-q2/