KUALA LUMPUR, March 17 (Bernama) -- Bursa Malaysia rebounded after two days of losses to close higher on Tuesday, driven by bargain-hunting activities and in line with the upbeat regional market performance. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 14.43 points or 0.85 per cent to 1,710.99 from yesterday’s close of 1,696.56. The market bellwether opened 6.60 points higher at 1,703.16, and fluctuated between 1,701.19 and 1,713.25 throughout the day. Market breadth was positive with gainers outpacing losers 682 to 432. A total of 454 counters were unchanged, 1,153 untraded, and 21 suspended. Turnover improved to 2.82 billion units worth RM2.76 billion from yesterday’s 2.38 billion units worth RM2.56 billion.
Singapore’s private housing market cooled sharply in February, with new home sales falling to just 246 units, reflecting seasonal weakness during the Lunar New Year period and rising geopolitical uncertainty.
Data released by the Urban Redevelopment Authority (URA) showed developers sold far fewer homes compared with 1,597 units in February last year, when major project launches and earlier holiday timing boosted transactions.
Seasonal Slowdown Hits Property Transactions
February is traditionally a quieter month for Singapore’s property market as Lunar New Year festivities reduce showroom visits and buyer activity.
However, the drop in sales also coincides with growing concerns that the property rally may be losing momentum, after a strong performance in recent years.
Singapore recorded nearly 11,000 private home sales in 2025, the highest in several years, though price growth slowed to 3.3%, indicating a more moderate market environment.
Developer Stocks Slide on Geopolitical Risks
Investor sentiment toward property developers weakened sharply on Monday as the Middle East conflict involving the US, Israel, and Iran raised concerns about broader economic fallout.
Shares of City Developments Ltd (CDL) fell as much as 6.8%, marking their steepest drop in almost a year after JPMorgan downgraded the stock to “neutral” from “overweight.”
Analysts highlighted potential risks to CDL’s hospitality segment, particularly if the conflict disrupts tourism flows, as well as the possibility of delays in asset divestments.
Meanwhile, UOL Group Ltd slid 7.5%, its largest decline since 2018.
Singapore’s real estate stocks had previously reached multi-year highs, supported by the strength of the housing market and resilient demand.
Sales Recovery Already Emerging in March
Despite the weak February data, property transactions appear to be rebounding in March.
URA data indicates that nearly 500 new private units have already been sold this month, with most sales coming from a new residential project in River Valley, a middle-class neighbourhood near the city centre.
The pickup suggests that underlying demand for new homes remains intact, particularly in well-located developments.
Investor Takeaways
Singapore new home sales dropped to 246 units in February, largely due to the Lunar New Year slowdown.
The property market is cooling slightly after a strong 2025 housing boom, where nearly 11,000 units were sold.
Developer shares declined sharply following JPMorgan downgrades amid concerns about the Middle East conflict’s impact on tourism and economic activity.
City Developments and UOL Group saw significant share price declines after reaching multi-year highs earlier.
Early March data suggests sales momentum may be recovering, supported by new project launches in prime city-fringe locations.
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