Residential Real Estate - Brunei Darussalam

Brunei Darussalam

The Residential Real Estate market market in Brunei Darussalam is forecasted to achieve a value of US$13.36bn by 2024.
It is expected to demonstrate an annual growth rate of 4.19% between 2024 and 2029, leading to a market volume of US$16.40bn by 2029.
In terms of global comparison, China is projected to generate the highest Real Estate value, amounting to US$112.9tn in 2024.
The residential real estate market in Brunei Darussalam is experiencing a surge in demand due to the country's stable economy and attractive investment opportunities.

Key regions: Europe, Brazil, France, Asia, United States

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Analyst Opinion

The Residential Real Estate market in Brunei Darussalam is experiencing significant growth and development.

Customer preferences: Customers in Brunei Darussalam are increasingly looking for modern and luxurious residential properties. They are seeking homes that offer high-quality amenities and facilities, such as swimming pools, gyms, and landscaped gardens. Additionally, customers are prioritizing properties that are located in prime areas, close to schools, shopping centers, and other essential amenities. There is also a growing demand for eco-friendly and sustainable housing options.

Trends in the market: One of the key trends in the Brunei Darussalam residential real estate market is the construction of high-rise apartment buildings. Developers are focusing on building vertical communities that offer convenient and modern living spaces. These apartments provide a range of amenities and services, catering to the needs of residents. The demand for apartments is driven by factors such as urbanization, population growth, and changing lifestyles. Another trend in the market is the development of gated communities and housing estates. These residential areas offer a sense of security and exclusivity, attracting buyers who value privacy and a sense of community. These communities often come with shared amenities, such as parks, playgrounds, and recreational facilities, making them attractive to families.

Local special circumstances: Brunei Darussalam has a strong economy, driven by its oil and gas industry. The country's high per capita income and low unemployment rate contribute to a favorable real estate market. Additionally, the government's focus on infrastructure development and urban planning has created opportunities for the growth of the residential real estate sector.

Underlying macroeconomic factors: The residential real estate market in Brunei Darussalam is influenced by several macroeconomic factors. The country's stable political environment and strong economic growth provide a conducive environment for investment in the real estate sector. The government's initiatives to attract foreign investment and promote sustainable development also contribute to the growth of the market. Furthermore, the low interest rates and favorable mortgage policies make it easier for individuals to purchase residential properties. This has led to an increase in demand for housing, driving the growth of the market. In conclusion, the residential real estate market in Brunei Darussalam is experiencing significant growth and development. Customer preferences for modern and luxurious properties, along with the construction of high-rise apartments and gated communities, are driving the market trends. The country's strong economy, stable political environment, and favorable macroeconomic factors contribute to the growth of the market.

Methodology

Data coverage:

Figures are based on total and average value of residential real estate, residential estate transactions and leases.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.

Additional Notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.