BANDAR SERI BEGAWAN, Oct 22 (NNN-ANN) – Brunei’s property price recorded a year-on-year drop of 0.9 percent, in the second quarter this year, the country’s central bank said, yesterday.
According to the latest statistics from the Brunei Darussalam Central Bank, the Brunei Darussalam Residential Property Price Index (RPPI) was at 93.1 in the second quarter, a year-on-year decrease of 0.9 percent.
Based on banks’ mortgage data, there were 130 transactions for private residential properties in the second quarter, a 4.8 percent increase compared to the first quarter.
Majority of transactions were detached houses (54.6 percent), terrace houses (19.2 percent), semi-detached houses (18.5 percent), apartments (5.4 percent), and land (2.3 percent).
The overall median purchase price for all types of private residential properties was 249,500 Brunei dollars (175,209 U.S. dollars), in the second quarter, a yearly drop of 10.9 percent.
RPPI measures the rate at which prices of private residential properties purchased by households, change over time.
