BANDAR SERI BEGAWAN, Oct. 22 (Xinhua): Brunei's property price recorded a year-on-year drop of 0.9 per cent in the second quarter this year, the country's central bank has announced.
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 per cent.
Based on banks' mortgage data, there were 130 transactions for private residential properties in the second quarter, a 4.8 per cent increase compared to the first quarter.
The majority of the transactions were detached houses (54.6 per cent), followed by terrace houses (19.2 per cent), semi-detached houses (18.5 per cent), apartments (5.4 per cent), and land (2.3 per cent).
The overall median purchase price for all types of private residential properties was 249,500 Brunei dollars (US$175,209) 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. - Xinhua
