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Belgian (BEL20) Real Estate Sector Analysis
UpdatedApr 22, 2026
DataAggregated Company Financials
Companies32
- 7D0.06%
- 3M-0.04%
- 1Y7.4%
- YTD3.6%
The Real Estate industry has stayed flat over the last week. The past year has been better, since the industry has gained 7.4% in that time. Earnings are forecast to grow by 5.2% annually.
Sector Valuation and Performance
Has the Belgian Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 22 Apr 2026 | €28.4b | €3.6b | €2.2b | 10.3x | 12.7x | 8x |
| Fri, 20 Mar 2026 | €24.7b | €3.6b | €2.3b | 13.4x | 11x | 6.9x |
| Sun, 15 Feb 2026 | €27.1b | €3.7b | €2.3b | 13.7x | 12x | 7.3x |
| Tue, 13 Jan 2026 | €26.1b | €3.6b | €2.2b | 13.4x | 11.6x | 7.2x |
| Thu, 11 Dec 2025 | €23.7b | €3.6b | €2.2b | 12.3x | 10.6x | 6.6x |
| Sat, 08 Nov 2025 | €24.7b | €3.6b | €2.2b | 12.7x | 11x | 6.8x |
| Mon, 06 Oct 2025 | €24.3b | €3.6b | €2.0b | 14.1x | 11.9x | 6.8x |
| Wed, 03 Sep 2025 | €24.2b | €3.6b | €2.0b | 13.7x | 12.1x | 6.7x |
| Fri, 01 Aug 2025 | €24.4b | €3.6b | €1.9b | 13.3x | 13.1x | 6.8x |
| Sun, 29 Jun 2025 | €24.5b | €3.5b | €1.9b | 12x | 12.8x | 7x |
| Tue, 27 May 2025 | €23.8b | €3.5b | €1.9b | 12.3x | 12.6x | 6.8x |
| Thu, 24 Apr 2025 | €23.3b | €3.5b | €1.8b | 11.8x | 12.7x | 6.7x |
| Sat, 22 Mar 2025 | €22.8b | €3.5b | €1.9b | 11.4x | 12.1x | 6.5x |
| Mon, 17 Feb 2025 | €21.8b | €3.1b | €1.5b | 11.2x | 14.6x | 7x |
| Wed, 15 Jan 2025 | €20.6b | €3.1b | €1.3b | 11.2x | 16.4x | 6.5x |
| Fri, 13 Dec 2024 | €21.5b | €3.1b | €1.3b | 11.4x | 17.1x | 6.8x |
| Sun, 10 Nov 2024 | €22.7b | €3.1b | €1.3b | 12.7x | 17.6x | 7.2x |
| Tue, 08 Oct 2024 | €24.3b | €3.1b | €1.3b | 12.5x | 18.5x | 7.8x |
| Thu, 05 Sep 2024 | €24.4b | €3.0b | €1.2b | 13x | 19.6x | 8.2x |
| Sat, 03 Aug 2024 | €24.5b | €2.9b | €1.2b | 14.8x | 20.9x | 8.5x |
| Mon, 01 Jul 2024 | €23.9b | €2.9b | €1.0b | 14.2x | 22.7x | 8.3x |
| Wed, 29 May 2024 | €25.1b | €2.9b | €1.1b | 14.7x | 23.1x | 8.7x |
| Fri, 26 Apr 2024 | €24.0b | €2.9b | €1.0b | 14.3x | 24x | 8.2x |
| Sun, 24 Mar 2024 | €24.6b | €2.8b | €862.8m | 13.7x | 28.5x | 8.7x |
| Tue, 20 Feb 2024 | €24.8b | €2.9b | €807.4m | 13.3x | 30.7x | 8.7x |
| Thu, 18 Jan 2024 | €25.6b | €3.0b | €690.3m | 11.7x | 37x | 8.6x |
| Sat, 16 Dec 2023 | €26.5b | €3.0b | €706.7m | 12.7x | 37.5x | 9x |
| Mon, 13 Nov 2023 | €23.8b | €3.0b | €746.6m | 12x | 31.9x | 8.1x |
| Wed, 11 Oct 2023 | €22.3b | €2.9b | €1.1b | 10.5x | 19.9x | 7.6x |
| Fri, 08 Sep 2023 | €24.0b | €3.0b | €1.2b | 10.7x | 20.4x | 8.1x |
| Sun, 06 Aug 2023 | €24.7b | €2.9b | €1.5b | 9.9x | 16.1x | 8.4x |
| Tue, 04 Jul 2023 | €24.0b | €2.9b | €2.1b | 7.3x | 11.5x | 8.2x |
| Thu, 01 Jun 2023 | €24.8b | €2.9b | €2.1b | 7.6x | 11.8x | 8.5x |
| Sat, 29 Apr 2023 | €26.8b | €2.9b | €2.6b | 7.6x | 10.4x | 9.3x |
Price to Earnings Ratio
10.4x
Current Industry PE
- Investors are pessimistic on the Belgian Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 12.7x which is lower than its 3-year average PE of 18.0x.
- The industry is trading close to its 3-year average PS ratio of 7.7x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 4.6% per year over the last three years.
- Meanwhile revenues for these companies have grown 7.1% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Belgian Real Estate sector?
| BE Market | -1.69% | |
| Real Estate | 0.061% | |
| Real Estate | 1.21% | |
| Specialized REITs | 0.72% | |
| REITS | 0.64% | |
| Health Care REITs | 0.079% | |
| Industrial REITs | -0.17% | |
| Retail REITs | -0.75% | |
| Residential REITs | -1.29% | |
Industry PE
- Investors are most optimistic about the Health Care REITs industry even though it's trading below its 3-year average PE ratio of 35.8x.
- Analysts are expecting annual earnings growth of 2.3%, which is lower than the prior year's growth of 129.8% per year.
- Investors are most pessimistic about the Specialized REITs industry, which is trading below its 3-year average of 7.4x.
Forecasted Growth
- Analysts are most optimistic on the Industrial REITs industry, expecting annual earnings growth of 14% over the next 5 years.
- This is better than its past earnings decline of 12% per year.
- In contrast, the Specialized REITs industry is expected to see its earnings decline by 12% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| MONT Montea Comm. VA | €72.20 | 2.1% +€55.2m | 16.7% | PB0.9x | |
| QRF Qrf Comm. VA | €11.25 | 1.4% +€30.4m | 11.4% | PB0.7x | |
| VGP VGP | €92.60 | 1.0% +€24.6m | 20.4% | PE8.7x | |
| SHUR Shurgard Self Storage | €27.85 | 0.7% +€20.2m | -19.3% | PB0.6x | |
| ATEB Atenor | €1.93 | 16.6% +€16.7m | -32.3% | PS0.8x |