Narrative Update • May 25
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Hong Kong (HSI) Real Estate Sector Analysis
UpdatedMay 31, 2026
DataAggregated Company Financials
Companies228
- 7D-3.3%
- 3M-7.4%
- 1Y21.0%
- YTD9.9%
Over the last 7 days, the Real Estate industry has dropped 3.3%, driven by Sun Hung Kai Properties declining 5.0%. This takes the industry's 12 month performance to a gain of 21%. Earnings are forecast to grow by 22% annually.
Sector Valuation and Performance
Has the Hong Kong Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 31 May 2026 | HK$2.5t | HK$2.6t | HK$5.4b | 10.8x | 467.6x | 0.9x |
| Tue, 28 Apr 2026 | HK$2.5t | HK$2.6t | HK$2.0b | 10.6x | 1226.2x | 0.9x |
| Thu, 26 Mar 2026 | HK$2.4t | HK$2.7t | -HK$133,406,876,616.48 | 13.2x | -18x | 0.9x |
| Sat, 21 Feb 2026 | HK$2.6t | HK$2.7t | -HK$138,034,041,660.08 | 14.8x | -19x | 1x |
| Mon, 19 Jan 2026 | HK$2.4t | HK$2.7t | -HK$136,774,045,477.63 | 14x | -17.6x | 0.9x |
| Wed, 17 Dec 2025 | HK$2.2t | HK$2.6t | -HK$134,421,020,865.52 | 13.5x | -16.7x | 0.9x |
| Fri, 14 Nov 2025 | HK$2.4t | HK$2.6t | -HK$139,869,730,937.77 | 12.9x | -17.4x | 0.9x |
| Sun, 12 Oct 2025 | HK$2.3t | HK$2.6t | -HK$145,827,523,219.14 | 14.1x | -16.1x | 0.9x |
| Tue, 09 Sep 2025 | HK$2.3t | HK$2.6t | -HK$146,631,600,743.47 | 13.7x | -15.9x | 0.9x |
| Thu, 07 Aug 2025 | HK$2.3t | HK$3.0t | -HK$180,649,505,504.03 | 11.3x | -12.6x | 0.8x |
| Sat, 05 Jul 2025 | HK$2.3t | HK$3.0t | -HK$185,164,106,194.57 | 11.1x | -12.3x | 0.8x |
| Mon, 02 Jun 2025 | HK$2.1t | HK$3.0t | -HK$186,580,087,279.73 | 10.5x | -11.3x | 0.7x |
| Wed, 30 Apr 2025 | HK$2.0t | HK$3.0t | -HK$176,569,546,520.60 | 10.5x | -11.6x | 0.7x |
| Fri, 28 Mar 2025 | HK$2.1t | HK$3.4t | -HK$270,319,939,218.87 | 9.3x | -7.7x | 0.6x |
| Sun, 23 Feb 2025 | HK$2.0t | HK$3.4t | -HK$251,935,642,002.93 | 7.8x | -7.9x | 0.6x |
| Tue, 21 Jan 2025 | HK$1.9t | HK$3.1t | -HK$97,247,347,589.67 | 7.6x | -20x | 0.6x |
| Thu, 19 Dec 2024 | HK$2.0t | HK$3.1t | -HK$101,129,494,688.38 | 7.5x | -19.6x | 0.6x |
| Sat, 16 Nov 2024 | HK$2.1t | HK$3.1t | -HK$97,215,778,746.96 | 7.7x | -21.2x | 0.7x |
| Mon, 14 Oct 2024 | HK$2.2t | HK$3.2t | -HK$96,923,399,295.55 | 8.1x | -23x | 0.7x |
| Wed, 11 Sep 2024 | HK$1.8t | HK$3.2t | -HK$79,533,225,425.56 | 7x | -22.8x | 0.6x |
| Fri, 09 Aug 2024 | HK$1.9t | HK$3.4t | -HK$54,718,679,761.43 | 7.2x | -34.2x | 0.6x |
| Sun, 07 Jul 2024 | HK$2.0t | HK$3.4t | -HK$19,577,672,651.85 | 7.3x | -104x | 0.6x |
| Tue, 04 Jun 2024 | HK$2.2t | HK$4.0t | -HK$70,277,679,732.06 | 7.4x | -31.4x | 0.6x |
| Thu, 02 May 2024 | HK$2.2t | HK$4.1t | -HK$79,221,864,245.89 | 7.1x | -27.6x | 0.5x |
| Sat, 30 Mar 2024 | HK$2.1t | HK$4.1t | -HK$82,411,216,697.73 | 7.1x | -25.1x | 0.5x |
| Mon, 26 Feb 2024 | HK$2.2t | HK$3.9t | -HK$171,340,932,424.15 | 6.6x | -12.8x | 0.6x |
| Wed, 24 Jan 2024 | HK$2.1t | HK$4.0t | -HK$182,918,139,001.00 | 6.6x | -11.3x | 0.5x |
| Fri, 22 Dec 2023 | HK$2.3t | HK$4.0t | -HK$183,442,760,136.00 | 6.9x | -12.8x | 0.6x |
| Sun, 19 Nov 2023 | HK$2.4t | HK$4.0t | -HK$177,741,183,568.00 | 7.3x | -13.4x | 0.6x |
| Tue, 17 Oct 2023 | HK$2.5t | HK$4.0t | -HK$156,869,250,925.00 | 7.2x | -15.7x | 0.6x |
| Thu, 14 Sep 2023 | HK$2.7t | HK$4.1t | -HK$136,392,960,214.00 | 7.5x | -19.6x | 0.7x |
| Sat, 12 Aug 2023 | HK$2.8t | HK$4.7t | -HK$27,461,129,973.00 | 7.6x | -102.8x | 0.6x |
| Mon, 10 Jul 2023 | HK$2.9t | HK$4.8t | HK$18.3b | 7.3x | 156.5x | 0.6x |
| Wed, 07 Jun 2023 | HK$3.0t | HK$4.9t | HK$16.1b | 7.4x | 187.7x | 0.6x |
Price to Earnings Ratio
187.7x
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 at a PE ratio of 468x which is higher than its 3-year average PE of 45.0x.
- The industry is trading close to its 3-year average PS ratio of 0.69x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 31% per year over the last three years,
- Revenues have also declined 18% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Hong Kong Real Estate sector?
| HK Market | -1.58% | |
| Real Estate | -3.33% | |
| Hotel and Resort REITs | 1.32% | |
| Office REITs | -0.39% | |
| Industrial REITs | -1.92% | |
| Retail REITs | -1.99% | |
| REITS | -2.28% | |
| Real Estate | -3.43% | |
Industry PE
- Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio of 43.9x.
- Analysts are expecting annual earnings growth of 19.1%, which is higher than its past year's earnings decline of 8.1% per year.
Forecasted Growth
- Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 137% over the next 5 years.
- In contrast, the Real Estate industry is expected to see its earnings grow by 19% 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 | |
|---|---|---|---|---|---|
| 1109 China Resources Land | HK$35.32 | 1.2% +HK$3.0b | 38.0% | PE8.6x | |
| 2602 Onewo | HK$17.60 | 7.5% +HK$1.4b | -13.1% | PE25.2x | |
| 199 ITC Properties Group | HK$2.43 | 81.3% +HK$1.2b | 1,146.2% | PS6.8x | |
| 817 China Jinmao Holdings Group | HK$1.74 | 4.2% +HK$945.9m | 62.6% | PE34.3x | |
| 81 China Overseas Grand Oceans Group | HK$2.90 | 2.1% +HK$213.6m | 69.6% | PE29.3x |
