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|Published Date: 03-01-2025
Brunei Darussalam’s Residential Property Price Index (RPPI) for Third Quarter 2024 (Q3 2024)
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Brunei Darussalam Central Bank (BDCB) today published Brunei Darussalam’s Residential Property Price Index (RPPI) for the third quarter of 2024 (Q3 2024). The index is compiled using data sourced from the 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). RPPI measures the rate at which the prices of private residential properties purchased by households change over time.
In Q3 2024, the RPPI was at 93.6, showing a decrease of 4.3% year-on-year compared to Q3 2023 and a decrease of 1.6% quarter-on-quarter compared to Q2 2024.
Period | Index (Q1 2015 = 100) | Change (%) | |
From Q3 2023 | From Q2 2024 | ||
Q3 2024 | 93.6 | -4.3% | -1.6% |
Based on mortgage data obtained from banks, there were 134 transactions for private residential properties in Q3 2024, indicating an increase of 8.9% in the number of transactions compared to Q2 2024 and an increase of 34.0% compared to a year ago. For Q3 2024, most of these transactions were for detached houses (61.2%), followed by semi-detached houses (25.4%), terrace houses (9.7%), apartments (2.2%), and land (1.5%).
The median purchase price for all types of private residential properties was BND249,800 in Q3 2024, a decrease of 3.9% compared to Q3 2023 and a decrease of 0.08% compared to Q2 2024. The median purchase prices for specific types of properties were BND252,300 for detached houses, BND262,500 for semi-detached houses, BND199,000 for terrace houses, BND305,000 for apartments, and land at BND176,000. The median price is widely used compared to the average or mean price in RPPI compilation as it is less influenced by a small number of unusually-priced properties within the house price distribution.
In terms of location, the majority of properties purchased in Q3 2024 were located in the Brunei-Muara district with 110 properties, followed by the Belait district with 13 properties, and the Tutong district with 11 properties. In addition to this, the top five mukim which recorded the most purchases of private residential properties in Q3 2024 were Mukim Sengkurong, Mukim Kilanas, Mukim Gadong, Mukim Pengkalan Batu and Mukim Lumapas.
Number of Transactions in Q3 2024 by District | |
Brunei Muara | 110 |
Belait | 13 |
Tutong | 11 |
Temburong | 0 |
Top 5 Mukim with Most Purchase Transactions in Q3 2024 | |
Sengkurong | 24 |
Kilanas | 19 |
Gadong | 14 |
Pengkalan Batu | 12 |
Lumapas | 12 |
The published statistics and index should be treated as general information only and one should not rely solely on these data to draw specific conclusions on a particular private residential property as property values vary with location, land size, floor area and so on.
For more information on RPPI, members of the public may refer to the technical notes on the methodology, as well as updated statistics on the BDCB website at www.bdcb.gov.bn. Updates on the RPPI will also be available via BDCB’s Instagram account @centralbank.brunei.
