A home being constructed. Image: Shutterstock

BANDAR SERI BEGAWAN

Brunei’s Residential Property Price Index (RPPI) stood at 95.4 in the third quarter of 2019, which is an 11.6 percent year-on-year increase from last year and a 6.9 percent increase from the previous quarter.

This was shown in the latest RPPI that was released recently by the Autoriti Monetari Brunei Darussalam (AMBD).

The index which was compiled using data sourced from banks is published with close cooperation from the Ministry of Development, in particular, the Authority for Building Control and Construction Industry (ABCi).

Source: AMBD
Source: AMBD
Source: AMBD

Based on mortgage data obtained from banks, there were 108 transactions for residential properties in Q3 2019.

The majority of these transactions were for detached houses (54.63 percent), followed by terraced houses (18.52 percent), semi-detached houses (17.59 percent), apartments (8.33 percent) and land (0.93 percent).

The median purchase price for all residential properties was $260,000 in Q3 this year.

The median purchase prices for specific types of properties were $288,000 for detached houses, $290,000 for semi-detached houses, $205,000 for terrace houses, $190,000 for apartments and $85,000 for land.

The overall median purchase price of residential properties in Q3 2019 was higher by four percent compared to Q3 2018 and remained unchanged compared to Q2 2019.

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 AMBD’s website and follow the authority’s Instagram account @autoriti_monetari for more updates. –Waqiuddin Rajak

The Bruneian | BANDAR SERI BEGAWAN

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