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Hong Kong (HSI) Real Estate Sector Analysis

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies237
  • 7D2.2%
  • 3M2.2%
  • 1Y26.9%
  • YTD4.5%

In the last week, the Real Estate industry is up 2.4%, with Sun Hung Kai Properties up 9.1%. This means that the industry has gained 27% over the past year. Earnings are forecast to grow by 24% annually.

Sector Valuation and Performance

Has the Hong Kong Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 Jan 2026HK$2.4tHK$2.7t-HK$136,716,109,237.7514.5x-17.3x0.9x
Sat, 13 Dec 2025HK$2.3tHK$2.6t-HK$134,337,049,896.8313.5x-17.1x0.9x
Mon, 10 Nov 2025HK$2.3tHK$2.6t-HK$139,603,961,368.0213.2x-16.5x0.9x
Wed, 08 Oct 2025HK$2.3tHK$2.6t-HK$146,017,764,758.1613.9x-15.8x0.9x
Fri, 05 Sep 2025HK$2.3tHK$2.6t-HK$147,871,752,720.2913.1x-15.4x0.9x
Sun, 03 Aug 2025HK$2.3tHK$3.0t-HK$179,381,188,689.9211.4x-12.6x0.8x
Tue, 01 Jul 2025HK$2.2tHK$3.0t-HK$187,604,103,368.4311x-11.9x0.7x
Thu, 29 May 2025HK$2.1tHK$3.0t-HK$186,508,144,720.2310.2x-11.1x0.7x
Sat, 26 Apr 2025HK$2.1tHK$2.9t-HK$176,288,734,228.5410.6x-11.7x0.7x
Mon, 24 Mar 2025HK$2.1tHK$3.4t-HK$286,036,912,716.589.1x-7.3x0.6x
Wed, 19 Feb 2025HK$2.0tHK$3.4t-HK$250,763,506,871.457.8x-7.9x0.6x
Fri, 17 Jan 2025HK$1.9tHK$3.1t-HK$97,101,442,758.717.5x-19.7x0.6x
Sun, 15 Dec 2024HK$2.0tHK$3.1t-HK$101,309,361,841.547.6x-20.1x0.7x
Tue, 12 Nov 2024HK$2.2tHK$3.1t-HK$97,445,656,835.928.2x-22.5x0.7x
Thu, 10 Oct 2024HK$2.2tHK$3.2t-HK$96,943,889,806.697.8x-22.6x0.7x
Sat, 07 Sep 2024HK$1.9tHK$3.3t-HK$82,593,733,954.077.8x-22.7x0.6x
Mon, 05 Aug 2024HK$1.8tHK$3.4t-HK$51,874,442,228.586.9x-35.2x0.5x
Wed, 03 Jul 2024HK$2.0tHK$3.4t-HK$19,544,855,045.127.1x-103.2x0.6x
Fri, 31 May 2024HK$2.2tHK$4.0t-HK$70,451,160,519.127.3x-31.5x0.6x
Sun, 28 Apr 2024HK$2.1tHK$4.1t-HK$77,887,132,798.506.9x-27.3x0.5x
Tue, 26 Mar 2024HK$2.1tHK$3.9t-HK$157,070,718,192.096.6x-13.2x0.5x
Thu, 22 Feb 2024HK$2.2tHK$3.9t-HK$173,294,733,100.976.3x-12.5x0.6x
Sat, 20 Jan 2024HK$2.1tHK$4.1t-HK$184,761,504,408.006.7x-11.4x0.5x
Mon, 18 Dec 2023HK$2.4tHK$4.0t-HK$183,929,971,283.006.8x-12.9x0.6x
Wed, 15 Nov 2023HK$2.4tHK$4.0t-HK$175,580,118,952.007.4x-13.5x0.6x
Fri, 13 Oct 2023HK$2.5tHK$4.0t-HK$157,000,854,565.007.5x-16.1x0.6x
Sun, 10 Sep 2023HK$2.7tHK$4.0t-HK$134,066,103,093.007.7x-20.3x0.7x
Tue, 08 Aug 2023HK$2.9tHK$4.7t-HK$24,407,196,064.007.7x-118.9x0.6x
Thu, 06 Jul 2023HK$3.0tHK$4.8tHK$19.2b7.4x154x0.6x
Sat, 03 Jun 2023HK$3.0tHK$4.9tHK$15.3b7.2x193.4x0.6x
Mon, 01 May 2023HK$3.3tHK$5.0tHK$12.0b8x274.1x0.7x
Wed, 29 Mar 2023HK$3.3tHK$5.5tHK$309.3b6.1x10.7x0.6x
Fri, 24 Feb 2023HK$3.5tHK$5.6tHK$380.5b6.6x9.1x0.6x
Sun, 22 Jan 2023HK$3.7tHK$5.6tHK$387.9b6.8x9.5x0.7x
Price to Earnings Ratio

9.5x


Total Market Cap: HK$3.7tTotal Earnings: HK$387.9bTotal Revenue: HK$5.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Real Estate Sector Price to Earnings3Y Average -1.6x202420252026
Current Industry PE
  • Investors are optimistic on the Hong Kong Real Estate industry, and appear confident in long term growth rates.
  • The industry is trading close to its 3-year average PS ratio of 0.65x.
Past Earnings Growth
  • Total earnings for the Real Estate industry have declined over the last three years, with the industry now making a loss overall.
  • Revenues have also declined 22% per year, which is driving profits down.

Industry Trends

Which industries have driven the changes within the Hong Kong Real Estate sector?

HK Market1.63%
Real Estate2.24%
Real Estate2.34%
Office REITs0.89%
Retail REITs0.67%
Industrial REITs0%0
REITS-0.40%
Hotel and Resort REITs-1.43%
Industry PE
    Forecasted Growth
    • Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 155% over the next 5 years.
    • In contrast, the Real Estate industry is expected to see its earnings grow by 21% per year over the next few years.

    Top Stock Gainers and Losers

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

    CompanyLast Price7D1YValuation
    		16 Sun Hung Kai PropertiesHK$108.709.1%
    +HK$26.4b    		53.4%PE16.3x
    		12 Henderson Land DevelopmentHK$31.127.5%
    +HK$10.6b    		42.8%PE25x
    		83 Sino LandHK$11.206.0%
    +HK$6.0b    		47.4%PE26.4x
    		1972 Swire PropertiesHK$22.063.3%
    +HK$4.0b    		46.5%PS7.8x
    		1113 CK Asset HoldingsHK$42.281.7%
    +HK$2.4b    		33.0%PE13x

    Latest News

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    Longfor Group Holdings
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    1Y
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    Improved Earnings Required Before Longfor Group Holdings Limited (HKG:960) Shares Find Their Feet

    Jan 13
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    1209
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    1972
    HK$22.06
    Swire Properties
    7D
    3.3%
    1Y
    46.5%

    1972: Higher Required Returns And Dividend Plans Will Support Attractive Upside

    Analysts nudged their fair value estimate for Swire Properties to $24.22 from $23.93, citing slightly updated assumptions around the discount rate, profit margin profile, and future P/E expectations. What's in the News Board meeting scheduled for March 12, 2026, to consider announcing Swire Properties' annual results for the year ending December 31, 2025 (Key Developments).
    16
    HK$108.70
    Sun Hung Kai Properties
    7D
    9.1%
    1Y
    53.4%

    16: Higher Future P/E And Margins Will Support A Stronger Earnings Outlook

    Analysts now place their fair value estimate for Sun Hung Kai Properties at HK$120.00, up from HK$112.10, citing adjusted assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News Shareholders approved the adoption of new articles of association at the annual general meeting held on November 6, 2025, updating the company bylaws for Sun Hung Kai Properties (Key Developments).
    1908
    HK$14.79
    C&D International Investment Group
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    -8.5%
    1Y
    21.8%

    An Intrinsic Calculation For C&D International Investment Group Limited (HKG:1908) Suggests It's 39% Undervalued

    Jan 07
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    1113
    HK$42.28
    CK Asset Holdings
    7D
    1.7%
    1Y
    33.0%

    1113: Lower Future P/E Will Drive Weaker Share Price Outlook

    Analysts have nudged their fair value estimate for CK Asset Holdings slightly lower to $28.32 from $28.55, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. Valuation Changes Fair Value Estimate was trimmed slightly from HK$28.55 to HK$28.32 to reflect updated model inputs.
    17
    HK$8.23
    New World Development
    7D
    11.8%
    1Y
    91.4%

    17: Persistently High 13.02% Discount Rate Will Pressure Profit Margins

    Analysts have trimmed their price target on New World Development, citing slightly adjusted assumptions for profit margins and future P/E. These changes together point to a more measured view of the company’s earnings power.
    1918
    HK$1.16
    Sunac China Holdings
    7D
    -4.9%
    1Y
    -24.2%
    108
    HK$3.26
    GR Life Style
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    21.2%
    1Y
    317.9%
    3900
    HK$8.68
    Greentown China Holdings
    7D
    -3.6%
    1Y
    -0.8%
    697
    HK$2.07
    Shoucheng Holdings
    7D
    -3.3%
    1Y
    111.2%
    12
    HK$31.12
    Henderson Land Development
    7D
    7.5%
    1Y
    42.8%
    1109
    HK$29.22
    China Resources Land
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    -0.5%
    1Y
    30.4%

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    4
    HK$23.30
    Wharf (Holdings)
    7D
    3.5%
    1Y
    10.4%

    Does Wharf (Holdings) (HKG:4) Have A Healthy Balance Sheet?

    Nov 23
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    83
    HK$11.20
    Sino Land
    7D
    6.0%
    1Y
    47.4%
    3380
    HK$1.53
    Logan Group
    7D
    -6.1%
    1Y
    59.4%

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    Oct 05
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