Brunei’s Residential Property Price Index (RPPI) stood at 90.6 in the fourth quarter of 2020, which is a decrease of 4.9 per cent year-on-year compared to Q4 in 2019 and a decrease of 1.2 per cent quarter-on-quarter in Q3 2020.
This was shown in the latest RPPI released by the Autoriti Monetari Brunei Darussalam (AMBD).
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).
Based on mortgage data obtained from banks, there were 131 transactions for 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 residential properties was $245,000 in Q4 2020 – lower by 5 per cent compared to Q4 2019 and higher by 2.1 per cent compared to Q3 2020.
The median purchase price for specific types of properties were $289,000 for detached houses; $250,000 for semi-detached houses; $202,500 for terrace houses; $210,000 for apartments and $75,000 for land.
The central bank in a statement said that 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 private residential property as property values vary with location, land size and floor area, among others.
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 @autoriti_monetari. – Analisa Amu
THE BRUNEIAN | BANDAR SERI BEGAWAN