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Brunei Darussalam’s Residential Property Price Index (RPPI) for Quarter 1, 2019 (Q1 2019)


PRESS RELEASE

BRUNEI DARUSSALAM'S RESIDENTIAL PROPERTY PRICE INDEX (RPPI)

FOR QUARTER 1, 2019 (Q1 2019)

 

1.       Autoriti Monetari Brunei Darussalam (AMBD) today published Brunei Darussalam's Residential Property Price Index (RPPI) for the first 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). 

2.       In Q1 2019, the RPPI was at 91.6, an increase of 4.9% year-on-year compared to Q1 2018 and an increase of 5.6% quarter-on-quarter compared to Q4 2018. 

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3.       Based on mortgage data obtained from the banks, there were 115 transactions for residential properties in Q1 2019. The majority of these transactions were for detached houses (53.0%), followed by terrace houses (21.8%), semi-detached houses (20.0%) and apartments (5.2%). Meanwhile, there were no purchases of land by bank mortgage during the quarter.  

4.       The median purchase price for all residential properties was BND245,000 in Q1 2019. The median purchase prices for specific types of properties were BND288,000 for detached houses, BND250,000 for semi-detached houses, BND160,000 for terrace houses and BND325,000 for apartments. The overall median purchase price of residential properties in Q1 2019 decreased by 2.0% year-on-year compared to Q1 2018 and 2.8% quarter-on-quarter compared to Q4 2018.

5.       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.  

6.       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.


Autoriti Monetari Brunei Darussalam

Date:             16 Zulkaedah 1440 / 19 July 2019
Ref:                 AMBD/COMMS/3

Download Malay version AMBD Siaran Akhbar - RPPI (Q1 2019)

Download English version AMBD Press Release - RPPI (Q1 2019)

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