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Brazilian (BOVESPA) Real Estate Industry Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies18
  • 7D5.3%
  • 3M13.1%
  • 1Y45.0%
  • YTD13.1%

In the last week, the Real Estate industry is up 5.3%, with Multiplan Empreendimentos Imobiliários leading the way with a 5.5% gain. Meanwhile, Syn Prop & Tech actually underperformed within the industry, shrinking 14% in the last week. In the last 12 months, the industry was up 45%. Earnings are forecast to grow by 3.7% annually.

Industry Valuation and Performance

Has the Brazilian Real Estate Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Apr 2026R$60.0bR$18.4bR$5.3b9.5x11.3x3.3x
Sun, 01 Mar 2026R$63.1bR$17.8bR$5.2b8.8x12.1x3.6x
Tue, 27 Jan 2026R$57.9bR$17.8bR$5.3b7.9x10.9x3.3x
Thu, 25 Dec 2025R$52.0bR$17.8bR$5.3b7.2x9.8x2.9x
Sat, 22 Nov 2025R$53.0bR$17.7bR$5.6b6.9x9.4x3x
Mon, 20 Oct 2025R$47.7bR$17.6bR$5.5b6.5x8.7x2.7x
Wed, 17 Sep 2025R$49.6bR$17.6bR$5.5b7.2x9x2.8x
Fri, 15 Aug 2025R$45.7bR$18.1bR$5.8b7.1x7.9x2.5x
Sun, 13 Jul 2025R$44.3bR$17.6bR$5.8b7.1x7.7x2.5x
Tue, 10 Jun 2025R$44.1bR$17.6bR$5.8b6.9x7.6x2.5x
Thu, 08 May 2025R$42.0bR$17.3bR$5.3b6.4x7.9x2.4x
Sat, 05 Apr 2025R$38.5bR$17.3bR$5.3b6.4x7.2x2.2x
Mon, 03 Mar 2025R$35.3bR$16.4bR$4.4b6.3x8x2.2x
Wed, 29 Jan 2025R$36.8bR$15.9bR$4.2b6.9x8.8x2.3x
Fri, 27 Dec 2024R$36.0bR$15.9bR$4.2b6.7x8.7x2.3x
Sun, 24 Nov 2024R$42.6bR$15.9bR$4.2b7.6x10.2x2.7x
Tue, 22 Oct 2024R$45.0bR$15.5bR$3.7b9.3x12.3x2.9x
Thu, 19 Sep 2024R$47.3bR$15.5bR$3.7b9.5x12.9x3x
Sat, 17 Aug 2024R$49.1bR$14.7bR$3.5b10.4x14.1x3.3x
Mon, 15 Jul 2024R$47.5bR$14.6bR$3.4b9.7x13.9x3.3x
Wed, 12 Jun 2024R$44.3bR$14.6bR$3.4b10.1x13x3x
Fri, 10 May 2024R$46.9bR$15.7bR$6.2b7.8x7.5x3x
Sun, 07 Apr 2024R$49.6bR$15.5bR$6.1b8.6x8.2x3.2x
Tue, 05 Mar 2024R$50.5bR$13.3bR$5.8b10.4x8.7x3.8x
Thu, 01 Feb 2024R$54.1bR$14.7bR$6.1b10.8x8.8x3.7x
Sat, 30 Dec 2023R$58.0bR$27.9bR$6.1b11.8x9.5x2.1x
Mon, 27 Nov 2023R$53.8bR$28.7bR$6.1b11.1x8.8x1.9x
Wed, 25 Oct 2023R$50.8bR$14.6bR$6.2b9x8.1x3.5x
Fri, 22 Sep 2023R$52.5bR$14.6bR$6.2b9.6x8.4x3.6x
Sun, 20 Aug 2023R$54.8bR$14.6bR$6.2b10.6x8.8x3.7x
Tue, 18 Jul 2023R$56.0bR$13.8bR$4.3b11.8x13.1x4.1x
Thu, 15 Jun 2023R$54.3bR$13.7bR$4.3b10.7x12.6x4x
Sat, 13 May 2023R$50.9bR$13.4bR$1.4b9.3x36.5x3.8x
Mon, 10 Apr 2023R$47.1bR$12.9bR$1.3b8.7x36.9x3.6x
Price to Earnings Ratio

36.9x


Total Market Cap: R$47.1bTotal Earnings: R$1.3bTotal Revenue: R$12.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Real Estate Industry Price to Earnings3Y Average 10.9x202420252026
Current Industry PE
  • Investors are relatively neutral on the Brazilian Real Estate industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 10.9x.
  • The industry is trading close to its 3-year average PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 61% per year over the last three years.
  • Revenues for these companies have grown 12% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Brazilian Real Estate industry?

BR Market2.97%
Real Estate5.12%
Real Estate5.34%
Real Estate Operating Companies5.51%
Real Estate Development4.47%
Real Estate Services-2.37%
Industry PE
  • Investors are most optimistic about the Real Estate Operating Companies industry, which is trading close to its 3-year average PE ratio of 11.8x.
    • Analysts are expecting annual earnings growth of 1.4%, which is higher than its past year's earnings decline of 4.5% per year.
  • Investors are most pessimistic about the Real Estate Services industry, which is trading below its 3-year average of 16.1x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate Development industry, expecting annual earnings growth of 19% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Real Estate Operating Companies industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
MULT3 Multiplan Empreendimentos ImobiliáriosR$32.495.5%
+R$831.9m		38.0%PE13.9x
JHSF3 JHSF ParticipaçõesR$9.6812.7%
+R$728.9m		126.7%PE5x
ALOS3 AllosR$30.984.7%
+R$688.9m		53.0%PE18.5x
IGTI11 IguatemiR$28.455.4%
+R$430.2m		45.7%PE14.5x
MDNE3 Moura Dubeux EngenhariaR$32.855.8%
+R$185.8m		103.5%PE8.1x

Latest News

GSHP3
R$2.95
General Shopping e Outlets do Brasil
7D
-0.3%
1Y
n/a
JFEN3
R$0.75
João Fortes Engenharia
7D
-2.6%
1Y
-68.2%
LPSB3
R$1.65
LPS Brasil - Consultoria de Imóveis
7D
-2.4%
1Y
17.0%
SYNE3
R$4.04
Syn Prop & Tech
7D
-14.0%
1Y
-20.5%
ALOS3
R$30.98
Allos
7D
4.7%
1Y
53.0%
JHSF3
R$9.68
JHSF Participações
7D
12.7%
1Y
126.7%

JHSF3: Elevated P/E And 2026 Shareholder Meeting Will Constrain Future Returns

Narrative Update on JHSF Participações Analysts have nudged their price target for JHSF Participações to R$7.70 from R$7.39, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margins, and a slightly higher future P/E multiple. What's in the News JHSF Participações has called a Special and Extraordinary Shareholders Meeting for February 27, 2026, giving you a clear date to watch for corporate decisions that may affect the company structure or capital plans (Key Developments).
HBOR3
R$2.47
Helbor Empreendimentos
7D
-1.6%
1Y
28.0%

HBOR3: Index Inclusion And Stronger Margins Will Support Future Upside Potential

Analysts now see fair value for Helbor Empreendimentos at about R$4.07 per share, down from roughly R$4.63. This reflects updated assumptions that combine more moderate revenue growth expectations with slightly stronger projected profit margins and a higher future P/E multiple.
LOGG3
R$28.16
LOG Commercial Properties e Participações
7D
3.5%
1Y
51.2%
MULT3
R$32.49
Multiplan Empreendimentos Imobiliários
7D
5.5%
1Y
38.0%

MULT3: Remote Bylaw Changes And Capitalization Plan Will Support Long-Term Upside

Analysts have lifted their price target for Multiplan Empreendimentos Imobiliários to R$36.60. The revision is tied to updated fair value estimates, a modestly higher discount rate, mixed views on revenue growth, a slightly stronger profit margin outlook, and a higher expected future P/E multiple.
MDNE3
R$32.85
Moura Dubeux Engenharia
7D
5.8%
1Y
103.5%

MDNE3: Recent Follow On Offering Will Support Future Upside Potential

Analysts have reduced their average price target for Moura Dubeux Engenharia from R$42.00 to about R$38.67. They cite updated fair value estimates that reflect slightly revised assumptions for discount rate, revenue growth, profit margin and future P/E.
LAVV3
R$14.33
Lavvi Empreendimentos Imobiliários
7D
4.1%
1Y
50.2%

Future Project Pipeline And Landbank Will Support Sustained Earnings Power

Catalysts About Lavvi Empreendimentos Imobiliários Lavvi Empreendimentos Imobiliários is a Brazilian real estate developer focused on residential projects across low income, mid range and high end segments, largely concentrated in São Paulo. What are the underlying business or industry changes driving this perspective?
LAND3
R$8.92
Terra Santa Propriedades Agrícolas
7D
6.1%
1Y
-41.3%
SCAR3
R$15.00
São Carlos Empreendimentos e Participações
7D
-0.1%
1Y
-13.3%
IGTI11
R$28.45
Iguatemi
7D
5.4%
1Y
45.7%
NEXP3
R$2.70
Nexpe Participações
7D
-4.6%
1Y
-30.1%