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Within the third quarter (Q3) of 2022, Brunei Darussalam’s Residential Property Worth Index (RPPI) was at 91.6, a lower of 1.63 per cent year-on-year in comparison with Q3 2021, and a lower of 1.57 per cent quarter-on-quarter in comparison with Q2 2022.
This was revealed by Brunei Darussalam Central Financial institution’s (BDCB) RPPI report for Q3 2022. The index is compiled utilizing information sourced from the banks within the Sultanate and is revealed with cooperation from the Ministry of Improvement, particularly the Authority for Constructing Management and Building Trade (ABCi). RPPI measures the speed at which the costs of personal residential properties bought by households are altering over time.
Based mostly on the mortgage information obtained from banks, there have been 135 transactions for personal residential properties in Q3 2022, indicating a rise of three.8 per cent within the variety of transactions in comparison with the second quarter (Q2) of 2022 and a rise of 1.5 per cent in comparison with a 12 months in the past. For Q3 2022, nearly all of these transactions have been for indifferent homes (58.5 per cent); adopted by terrace homes (23.0 per cent); semi-detached homes (17 per cent); and flats (1.5 per cent). No financing for buy of land was reported in Q3 2022.
The general median buy worth for every type of personal residential properties was BND255,000 in Q3 2022, a rise of two per cent in comparison with Q3 2021 and a rise by 2.2 per cent in comparison with Q2 2022. The median buy costs for particular varieties of properties have been BND278,000 for indifferent homes; BND197,000 for terrace homes; BND260,000 for semi-detached homes; and BND316,000 for flats. Median worth is extensively used in comparison with the typical or imply worth in RPPI compilation as it’s much less influenced by a small variety of unusually-priced properties inside the home worth distribution.
The revealed statistics and index needs to be handled as basic data solely and one shouldn’t rely solely on these information to attract particular conclusions on a selected non-public residential property as property values fluctuate with location, land measurement, ground space and so forth.
For data, go to BDCB web site at www.bdcb.gov.bn.
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