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The Brunei Darussalam Central Bank reported a 4.4% decline in the Residential Property Price Index for Q1 2024 compared to the previous year, highlighting a significant drop in property transactions and median prices. This indicates a cooling housing market in Brunei.

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Brunei House Prices Dip in Q1 2024

Published on 28th June 2024

The Brunei Darussalam Central Bank (BDCB) reported a 4.4% year-on-year decrease in the Residential Property Price Index (RPPI) for Q1 2024, reaching 92.3%. This decline was accompanied by a 33.6% drop in property transactions compared to Q1 2023. Detached houses constituted the majority of purchases (55.5%), followed b...

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The Brunei Darussalam Central Bank (BDCB) reported a 4.4% year-on-year decrease in the Residential Property Price Index (RPPI) for Q1 2024, reaching 92.3%. This decline was accompanied by a 33.6% drop in property transactions compared to Q1 2023. Detached houses constituted the majority of purchases (55.5%), followed by terraced homes (24.7%). The median purchase price for all types of residential properties was $247,000, down 1.6% from Q1 2023. Most transactions occurred in Brunei-Muara District, with Sengkurong, Kilanas, Gadong, Lumapas, and Mentiri recording the highest activity.

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Borneo Bulletin

📍Brunei Press Sdn Bhd

Brunei's leading English daily, serving the nation since 1953. Published by Brunei Press Sdn Bhd. 📰📱💻

Brunei's leading English daily, serving the nation since 1953. Published by Brunei Press Sdn Bhd. 📰📱💻

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