Property for sale in Bandar Seri Begawan

Bandar Seri Begawan, with its scattered population of 200,000 is hit by low economic activity as the anticipated large scale public spending is either on hold or making slow progress.

Increased oil and gas activities backed by the recent spiraling prices and massive government housing schemes, where up to 2,000 and more resettlement homes are to be built are the bedrock for the anticipated prosperity for the oil towns south of the capital. Get more information on property for sale in Brunei

This sunshine view of the oil areas stands in some sharp contrast compared to the capital, Bandar Seri Begawan, where the skis are somewhat overcast lately and where consequently property prices are just managing to hold or facing a slight downward trend in many areas, estate agents report.

Views on the Bandar Seri Begawan real estate :

An overbuilt situation of mainly commercial and to a lesser extent private housing over supply has affected the capital's market adversely.

A number of "hoped for" foreign investment projects, too, have come to nothing. Members of the public in Bandar Seri Begawan who are mainly government servants seem to have less spare cash and that is affecting the ever growing number of shopping complexes, restaurants and smaller retail outlets. The unchecked purchase of cars are said to be one reason for the present grind.