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Brazilian (BOVESPA) Real Estate Industry Analysis

UpdatedFeb 12, 2026
DataAggregated Company Financials
Companies17
  • 7D2.9%
  • 3M12.3%
  • 1Y61.0%
  • YTD17.0%

In the last week, Real Estate has been flat. The past year has been better, since the industry has gained 58% in that time. Looking forward, earnings are forecast to grow by 2.9% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 12 Feb 2026R$61.0bR$17.7bR$5.2b8.8x11.7x3.4x
Sat, 10 Jan 2026R$53.2bR$17.8bR$5.3b7.6x10x3x
Mon, 08 Dec 2025R$52.0bR$17.8bR$5.3b7.4x9.8x2.9x
Wed, 05 Nov 2025R$49.9bR$17.6bR$5.5b7.3x9.1x2.8x
Fri, 03 Oct 2025R$50.0bR$17.6bR$5.5b6.9x9.1x2.8x
Sun, 31 Aug 2025R$48.2bR$17.6bR$5.5b6.7x8.7x2.7x
Tue, 29 Jul 2025R$43.2bR$17.7bR$5.8b6.6x7.5x2.4x
Thu, 26 Jun 2025R$45.1bR$17.6bR$5.8b6.8x7.8x2.6x
Sat, 24 May 2025R$43.8bR$17.6bR$5.8b7.1x7.6x2.5x
Mon, 21 Apr 2025R$40.2bR$17.3bR$5.3b6.8x7.6x2.3x
Wed, 19 Mar 2025R$39.3bR$16.6bR$4.3b7x9.1x2.4x
Fri, 14 Feb 2025R$37.2bR$16.2bR$4.4b7.2x8.5x2.3x
Sun, 12 Jan 2025R$34.5bR$15.9bR$4.2b6.6x8.3x2.2x
Tue, 10 Dec 2024R$39.2bR$15.9bR$4.2b7.1x9.4x2.5x
Thu, 07 Nov 2024R$44.0bR$15.6bR$3.7b9x11.8x2.8x
Sat, 05 Oct 2024R$45.0bR$15.5bR$3.7b9.4x12.3x2.9x
Mon, 02 Sep 2024R$46.0bR$15.5bR$3.7b8.8x12.6x3x
Wed, 31 Jul 2024R$45.7bR$14.5bR$3.4b9.1x13.4x3.2x
Fri, 28 Jun 2024R$44.5bR$14.6bR$3.4b9.5x13.1x3.1x
Sun, 26 May 2024R$45.4bR$14.5bR$3.4b10x13.4x3.1x
Tue, 23 Apr 2024R$46.8bR$15.5bR$6.1b8.1x7.7x3x
Thu, 21 Mar 2024R$51.3bR$14.6bR$6.1b9x8.5x3.5x
Sat, 17 Feb 2024R$45.3bR$13.3bR$5.7b9.9x8x3.4x
Mon, 15 Jan 2024R$56.7bR$14.7bR$6.1b11.1x9.3x3.8x
Wed, 13 Dec 2023R$54.9bR$27.9bR$6.1b11x9x2x
Fri, 10 Nov 2023R$52.7bR$27.8bR$6.3b10.6x8.4x1.9x
Sun, 08 Oct 2023R$50.4bR$14.6bR$6.2b8.7x8.1x3.4x
Tue, 05 Sep 2023R$52.8bR$14.6bR$6.2b10.2x8.5x3.6x
Thu, 03 Aug 2023R$56.9bR$13.9bR$4.6b12.1x12.4x4.1x
Sat, 01 Jul 2023R$56.5bR$13.8bR$4.3b11x13.2x4.1x
Mon, 29 May 2023R$52.2bR$13.7bR$4.3b10.6x12.2x3.8x
Wed, 26 Apr 2023R$47.2bR$13.0bR$1.4b9.6x33.4x3.6x
Fri, 24 Mar 2023R$46.5bR$13.0bR$1.4b8.4x34.2x3.6x
Sun, 19 Feb 2023R$44.4bR$14.7bR$3.0b7.6x14.9x3x
Price to Earnings Ratio

14.9x


Total Market Cap: R$44.4bTotal Earnings: R$3.0bTotal Revenue: R$14.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Real Estate Industry Price to Earnings3Y Average 11.5x202420252026
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 11.5x.
  • The 3-year average PS ratio of 3.0x is lower than the industry's current PS ratio of 3.4x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 21% per year over the last three years.
  • Revenues for these companies have grown 6.4% 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 Market3.97%
Real Estate0.98%
Real Estate2.93%
Real Estate Development7.06%
Real Estate Operating Companies2.33%
Real Estate Services-2.73%
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 12.6x.
    • Analysts are expecting annual earnings growth of 0.6%, which is higher than its past year's earnings decline of 1.9% per year.
  • Investors are most pessimistic about the Real Estate Services industry, which is trading below its 3-year average of 15.7x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate Development industry, expecting annual earnings growth of 17% over the next 5 years.
  • However this is lower than its past earnings growth rate of 32% per year.
  • 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$33.792.7%
+R$454.5m		51.5%PE14.5x
IGTI11 IguatemiR$29.234.0%
+R$335.3m		57.2%PE15x
ALOS3 AllosR$31.541.7%
+R$264.6m		64.3%PE21x
MDNE3 Moura Dubeux EngenhariaR$31.288.5%
+R$253.5m		157.4%PE9.2x
LAVV3 Lavvi Empreendimentos ImobiliáriosR$18.077.6%
+R$248.2m		111.6%PE8.2x

Latest News

IGTI11
R$29.23
Iguatemi
7D
4.0%
1Y
57.2%

Pinning Down Iguatemi S.A.'s (BVMF:IGTI11) P/E Is Difficult Right Now

Feb 12
Pinning Down Iguatemi S.A.'s (BVMF:IGTI11) P/E Is Difficult Right Now
MDNE3
R$31.28
Moura Dubeux Engenharia
7D
8.5%
1Y
157.4%

MDNE3: Equity Offering And Dividend Plans Will Support Future Upside

Analysts have kept their fair value estimate for Moura Dubeux Engenharia unchanged while fine tuning inputs such as a slightly lower discount rate and a marginally reduced future P/E assumption, which together support a steady price target with adjusted risk and return expectations. What's in the News Moura Dubeux Engenharia S.A. completed a follow on equity offering of BRL 483 million, issuing 19,305,019 ordinary shares at BRL 25.0194 per share under Regulation S and Rule 144A (Key Developments).
MULT3
R$33.79
Multiplan Empreendimentos Imobiliários
7D
2.7%
1Y
51.5%

MULT3: Softer Assumptions And Board Meeting Timing Will Support Fair Value

Analysts have nudged their price target for Multiplan Empreendimentos Imobiliários slightly higher to R$34.75 from R$34.19, citing adjusted assumptions around discount rates, revenue contraction, profit margins and future P/E as the key drivers of the change. What's in the News Multiplan Empreendimentos Imobiliários S.A. scheduled a board meeting for February 4, 2026 at 18:00 Coordinated Universal Time.
HBOR3
R$2.92
Helbor Empreendimentos
7D
8.6%
1Y
94.7%

HBOR3: Index Addition And Stable Assumptions Will Support Future Upside Potential

Analysts have modestly reduced their price target for Helbor Empreendimentos, citing a slightly lower discount rate and a marginally reduced future P/E assumption, while keeping fair value estimates unchanged. What's in the News Helbor Empreendimentos S.A. was added to the Brazil Small Cap Index, putting the company on the radar of investors who track or reference this benchmark (Key Developments).
ALOS3
R$31.54
Allos
7D
1.7%
1Y
64.3%

ALOS3: Future Earnings Will Reflect Analyst Day Outlook And Revised Profitability Assumptions

Analysts have nudged their price target on Allos higher to US$33.55 from US$31.50, reflecting updated views on fair value, discount rate, revenue, profit margin and future P/E assumptions. What's in the News Allos has scheduled an Analyst/Investor Day to present its overall company strategy.
JHSF3
R$9.67
JHSF Participações
7D
2.0%
1Y
146.7%

JHSF3: Elevated P/E Will Continue To Restrict Future Upside Potential

Analysts have nudged their price target on JHSF Participações slightly higher, reflecting a lower applied discount rate and a modestly reduced future P/E assumption. This suggests a marginally improved risk profile while keeping fair value expectations broadly unchanged at R$7.39.
LPSB3
R$1.78
LPS Brasil - Consultoria de Imóveis
7D
-2.7%
1Y
39.1%
LOGG3
R$28.03
LOG Commercial Properties e Participações
7D
1.0%
1Y
54.9%
FIEI3
R$14.11
Fica Empreendimentos Imobiliarios
7D
-5.3%
1Y
57.1%

Health Check: How Prudently Does Fica Empreendimentos Imobiliarios (BVMF:FIEI3) Use Debt?

Dec 29
Health Check: How Prudently Does Fica Empreendimentos Imobiliarios (BVMF:FIEI3) Use Debt?
GSHP3
R$3.06
General Shopping e Outlets do Brasil
7D
-12.3%
1Y
n/a
SYNE3
R$4.84
Syn Prop & Tech
7D
-0.8%
1Y
-6.7%
LAVV3
R$18.07
Lavvi Empreendimentos Imobiliários
7D
7.6%
1Y
111.6%
SCAR3
R$15.22
São Carlos Empreendimentos e Participações
7D
-0.5%
1Y
-11.7%
JFEN3
R$0.98
João Fortes Engenharia
7D
-4.9%
1Y
-56.8%