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Brunei Darussalam's Residential Property Price Index (RPPI) For Third Quarter 2022 (Q3 2022)


PRESS RELEASE

BRUNEI DARUSSALAM'S RESIDENTIAL PROPERTY PRICE INDEX (RPPI)

FOR THIRD QUARTER 2022 (Q3 2022)

 1. ​Brunei Darussalam Central Bank (BDCB) today published Brunei Darussalam's Residential Property Price Index (RPPI) for the third quarter of 2022 (Q3 2022). 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 are changing over time.

2. In Q3 2022, the RPPI was at 91.6, showing a decrease of 1.63% year-on-year compared to Q3 2021, and a decrease of 1.57% quarter-on-quarter compared to Q2 2022.

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3​. Based on the mortgage data obtained from banks, there were 135 transactions for private residential properties in Q3 2022, indicating an increase of 3.8% in the number of transactions compared to Q2 2022 and an increase of 1.5% compared to a year ago. For Q3 2022, majority of these transactions were for detached houses (58.5%); followed by terrace houses (23.0%); semi-detached houses (17.0%); and apartments (1.5%). No financing for purchase of land was reported in Q3 2022.​​​

4. The overall median purchase price for all types of private residential properties was BND255,000 in Q3 2022, an increase of 2.0% compared to Q3 2021 and an increase by 2.2% compared to Q2 2022. The median purchase prices for specific types of properties were BND278,000 for detached houses; BND197,000 for terrace houses; BND260,000 for semi-detached houses; and BND316,000 for apartments. 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.

5. 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. 

6. 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.


Brunei Darussalam Central Bank

Tarikh:        16 Jamadilakhir 1444H/  9 January 2023M

Rujukan:    BDCB/COMMS/3

 

Download Malay Versionhere

Download English Versionhere

Download Technical Notes RPPI

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