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Within the first quarter of 2022, Brunei Darussalam’s Residential Property Worth Index (RPPI) was at 88.1, a lower of 5.1 per cent year-on-year in comparison with Q1 2021, and a lower of 9.5 per cent quarter-on-quarter in comparison with This fall 2021.
RPPI measures the speed at which the costs of personal residential properties bought by households are altering over time.
This was revealed within the RPPI for Q1 2022 printed by the Brunei Darussalam Central Financial institution (BDCB) yesterday.
Primarily based on mortgage knowledge obtained from banks, there have been 124 transactions for personal residential properties in Q1 2022, indicating a lower of three.1 per cent within the variety of transactions in comparison with This fall 2021, and a rise of 10.7 per cent in comparison with a 12 months in the past.
For Q1 2022, the vast majority of these transactions have been for indifferent homes (66.1 per cent); adopted by terrace homes (17.7 per cent); semi-detached homes (13.0 per cent); and flats (3.2 per cent). No financing for buy of land was reported in Q1 2022.
The general median buy worth for every type of personal residential properties was BND246,500 in Q1 2022, a lower of 0.2 per cent in comparison with Q1 2021 and decrease by 6.6 per cent in comparison with This fall 2021.
The median buy costs for particular sorts of properties have been BND260,000 for indifferent homes; BND260,000 for semi-detached homes; BND203,000 for terrace homes; and BND216,500 for flats.
Median worth is extensively utilized in RPPI compilation in comparison with the typical or imply worth as it’s much less influenced by unusually-priced properties inside the home worth distribution.
The statistics and index must be handled as normal info solely and one shouldn’t rely solely on these knowledge to attract particular conclusions on a specific non-public residential property as property values differ with location. land measurement, flooring space and so forth.
The index is compiled utilizing knowledge sourced from the banks in Brunei Darussalam, and is printed with cooperation from the Ministry of Growth, specifically the Authority for Constructing Management and Building Business (ABCi).
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