In October 2020, Autoriti Monetari Brunei Darussalam (AMBD) published Brunei Darussalam’s Residential Property Price Index (RPPI) for the second quarter (Q2) of 2020. The RPPI in Q2 2020 was at 84.6, a decrease of 7.1 per cent quarter-on-quarter compared to compared to Q1 2020.
In addition, 115 transactions for residential properties were recorded in Q2 2020 compared to 76 transactions in Q1 2020. Most of these transactions were for detached houses (43.5 per cent), followed by semi-detached houses (26.1 per cent), terrace houses (16.5 per cent), apartments (10.4 per cent) and land (3.5 per cent).
The median purchase price for all types of residential properties was recorded at BND238,000. This figure is 4.4 per cent lower than Q1 2020. The median purchase prices for specific types of properties were BND247,500 for detached houses; BND272,000 for semidetached houses; BND165,000 for terrace houses; BND234,000 for apartments; and BND80,200 for lands.
In August 2020, the Ministry of Development announced that there would be changes to the process and procedures to build a single unit detached house, effective September 1, 2020. Endorsement by departments including the Department of Road, Department of Drainage and Sewerage, Department of Water Services and Department of Electrical Services must be obtained by the qualified persons (QP) comprising architects and professional engineers, and registered building draughtsmen (RBD).
It is the responsibility of the QPs and RBD to obtain the departments’ endorsement during the preparation of a design proposal in ensuring the overall infrastructure requirements are available and adequate.
One Riverside is Brunei Darussalam’s first luxury residential and commercial development, situated along the scenic Kedayan River in the heart of Gadong. The development is made up of 84 condominium units, with private courtyard gardens and a riverside promenade. Spacious and elegant, each apartment comes with three bedrooms, a study, a utility room and a kitchen. Residents also have access to a private parking area on the first level.
Gadong and Kiulap are a five-minute drive away. A pedestrian bridge connects the promenade to Kiulap, ideal for those looking for a breezy stroll. Alternatively, one can ride a boat from the promenade to Gadong or Kiulap for a unique commuting experience.
Brunei’s premier supermarket, Supa Save, opened its fourth branch at One Riverside in March 2019. Patrons can also find popular eateries such as Excapade, Area 8, Twinkle Kids Café, Amsarra, Bloom Café, Chocolate Origins, Coffee Bean & Tea Leaf Brunei, Iskandar Curry House and Ximply Chriz. Sports enthusiasts will enjoy shopping at Cycle Nation and Under Armour. There is also Bloom Project Co with beautifully designed bouquets and flowers arrangements for all occasions.
Fitness enthusiasts can head to the boutique gym TKO at One Riverside for an invigorating workout. The Copper Kitchen is located on the ground floor of TKO, offering an extensive array of wholesome food and drinks.
Copyright 2019 Borneo Bulletin Yearbook 2019 All rights reserved.
