Property for sale in Brunei Darussalam
Brunei or the Sultanate of Brunei, officially referred to as Nagara Brunei Darussalam, is a small nation located on the island of Borneo, divided into two parts. It borders Malaysia and overlooks the South China Sea. It is renowned for its beaches and tropical forests, most of which are part of protected reserves characterized by great biodiversity. The capital, Bandar Seri Begawan, is home to the sumptuous mosque of Jame'Asr Hassanil Bolkiah, with its 29 golden domes. The magnificent palace of the capital, Istana Nurul Iman, is the residence of the present sultan of Brunei. With the exception of the coast facing the South China Sea, it completely borders Malaysia.
The average purchase price of properties for sale in Brunei fell 11% year-on-year, according to a price index published by the Monetary Authority Brunei Darussalam (AMBD).
The central bank today released its first residential property price index (RPPI), which assesses the conditions of the real estate market and tracks changes in the average price of residential properties in all four districts.
The AMBD claimed that the index of property price for sale in Brunei would measure the affordability of home ownership in Brunei and could also serve as a macroeconomic indicator of economic growth and financial stability.
Most of the transactions for property for sale in Brunei are single-family homes (51%), followed by terrace houses (22%), terraced houses (16%), apartments (7%) and land (4%).
A study conducted by University Brunei Darussalam last year found that family relationships and public housing policies have significantly influenced the patterns of buying properties for sale in Brunei.
Brunei has a unique real estate market due to the presence of a massive public housing offer for citizens.
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