Narrative Update • May 09
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Greek (ASE) Real Estate Sector Analysis
UpdatedMay 11, 2026
DataAggregated Company Financials
Companies11
- 7D1.1%
- 3M-4.8%
- 1Y3.6%
- YTD-4.4%
In the last week, the Real Estate industry is up 1.1%, with Noval Property Real Estate Investment up 2.3%. This means that the industry has gained 3.6% over the past year. Looking forward, earnings are forecast to grow by 4.3% annually.
Sector Valuation and Performance
Has the Greek Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 11 May 2026 | €4.2b | €1.0b | €338.3m | 8.7x | 12.6x | 4x |
| Wed, 08 Apr 2026 | €4.1b | €1.1b | €473.8m | 8x | 8.6x | 3.9x |
| Fri, 06 Mar 2026 | €4.1b | €1.2b | €541.4m | 8.7x | 7.5x | 3.4x |
| Sun, 01 Feb 2026 | €4.4b | €1.2b | €532.1m | 8.7x | 8.3x | 3.7x |
| Tue, 30 Dec 2025 | €4.4b | €1.2b | €535.5m | 8.5x | 8.2x | 3.7x |
| Thu, 27 Nov 2025 | €4.3b | €1.2b | €551.9m | 8.2x | 7.8x | 3.6x |
| Sat, 25 Oct 2025 | €4.3b | €1.2b | €551.9m | 7.9x | 7.8x | 3.6x |
| Mon, 22 Sep 2025 | €4.4b | €1.2b | €534.4m | 8x | 8.2x | 3.8x |
| Wed, 20 Aug 2025 | €4.3b | €1.1b | €377.2m | 9.3x | 11.4x | 4.1x |
| Fri, 18 Jul 2025 | €4.2b | €1.1b | €381.6m | 8.8x | 10.9x | 3.9x |
| Sun, 15 Jun 2025 | €4.1b | €1.1b | €381.6m | 8.6x | 10.7x | 3.9x |
| Tue, 13 May 2025 | €4.1b | €1.1b | €391.2m | 8.5x | 10.4x | 3.7x |
| Thu, 10 Apr 2025 | €3.8b | €1.1b | €351.6m | 8.1x | 10.9x | 3.6x |
| Sat, 08 Mar 2025 | €3.8b | €972.6m | €293.6m | 8.2x | 13x | 3.9x |
| Mon, 03 Feb 2025 | €3.9b | €969.8m | €273.5m | 8x | 14.4x | 4x |
| Wed, 01 Jan 2025 | €4.0b | €969.8m | €273.5m | 8.2x | 14.6x | 4.1x |
| Fri, 29 Nov 2024 | €3.9b | €973.7m | €274.6m | 11.8x | 14.2x | 4x |
| Sun, 27 Oct 2024 | €4.2b | €868.7m | €181.8m | 12.4x | 22.8x | 4.8x |
| Tue, 24 Sep 2024 | €4.3b | €831.0m | €167.1m | 14.2x | 25.7x | 5.2x |
| Thu, 22 Aug 2024 | €4.3b | €810.2m | €227.5m | 17.9x | 18.8x | 5.3x |
| Sat, 20 Jul 2024 | €4.3b | €807.2m | €222.0m | 17.4x | 19.3x | 5.3x |
| Mon, 17 Jun 2024 | €4.4b | €816.9m | €276.0m | 13.4x | 16x | 5.4x |
| Wed, 15 May 2024 | €4.2b | €719.9m | €204.9m | 22.9x | 20.5x | 5.8x |
| Fri, 12 Apr 2024 | €4.1b | €564.3m | €217.7m | 15.6x | 18.6x | 7.2x |
| Sun, 10 Mar 2024 | €4.1b | €538.6m | €162.8m | 23x | 25.4x | 7.7x |
| Tue, 06 Feb 2024 | €4.2b | €538.1m | €169.0m | 23.2x | 24.6x | 7.7x |
| Thu, 04 Jan 2024 | €4.3b | €563.8m | €193.0m | 18.9x | 22.5x | 7.7x |
| Sat, 02 Dec 2023 | €4.2b | €556.8m | €186.8m | 20.5x | 22.2x | 7.5x |
| Mon, 30 Oct 2023 | €3.8b | €516.0m | €178.5m | 20.4x | 21x | 7.3x |
| Wed, 27 Sep 2023 | €3.7b | €438.0m | €154.3m | 10.3x | 23.9x | 8.4x |
| Fri, 25 Aug 2023 | €3.9b | €437.4m | €155.6m | 10.1x | 25.1x | 8.9x |
| Sun, 23 Jul 2023 | €4.1b | €437.5m | €144.5m | 14.6x | 28.1x | 9.3x |
| Tue, 20 Jun 2023 | €4.0b | €442.3m | €146.1m | 15.2x | 27.6x | 9.1x |
| Thu, 18 May 2023 | €3.9b | €384.2m | €116.2m | 16.3x | 34x | 10.3x |
Price to Earnings Ratio
34x
Current Industry PE
- Investors are pessimistic on the Greek 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 12.6x which is lower than its 3-year average PE of 16.8x.
- The 3-year average PS ratio of 5.5x is higher than the industry's current PS ratio of 4.0x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 43% per year over the last three years.
- Revenues for these companies have grown 40% 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 Greek Real Estate sector?
| GR Market | 4.41% | |
| Real Estate | 1.08% | |
| Retail REITs | 2.31% | |
| REITS | 1.41% | |
| Real Estate | 0.39% | |
Industry PE
- Investors are most optimistic about the REITS industry which is trading above its 3-year average PE ratio of 13.5x.
- Analysts expect its future annual earnings decline (10.3%) to be largely in line with prior year's earnings decline.
- Investors are most pessimistic about the Retail REITs industry, which is trading below its 3-year average of 21.8x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 10% over the next 5 years.
- However this is lower than its past earnings growth rate of 54% per year.
- In contrast, the REITS industry is expected to see its earnings decline by 10% 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 | |
|---|---|---|---|---|---|
| LAMDA LAMDA Development | €6.16 | 1.3% +€13.6m | -5.7% | PE11.6x | |
| TRESTATES Trade Estates REIC | €2.05 | 2.5% +€6.0m | 25.4% | PB0.7x | |
| NOVAL Noval Property Real Estate Investment | €2.67 | 1.5% +€5.0m | 11.3% | PB0.6x | |
| TRASTOR Trastor Real Estate Investment Company | €1.27 | 1.6% +€4.9m | 5.8% | PB0.7x | |
| ORILINA Orilina Properties REIC | €0.86 | 2.9% +€3.7m | 11.9% | PB0.8x |