Narrative Update • Jul 08
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Hong Kong (HSI) Real Estate Sector Analysis
UpdatedJul 15, 2026
DataAggregated Company Financials
Companies226
- 7D2.5%
- 3M-10.0%
- 1Y-1.2%
- YTD-1.6%
The Real Estate industry is up 2.5% in the last week, with Sun Hung Kai Properties up 8.2%. Despite this gain, the industry's performance has been flat over the past year. 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 |
|---|---|---|---|---|---|---|
| Thu, 16 Jul 2026 | HK$2.2t | HK$2.6t | HK$15.0b | 8.8x | 148.8x | 0.9x |
| Sat, 13 Jun 2026 | HK$2.4t | HK$2.6t | HK$5.5b | 10x | 435.4x | 0.9x |
| Mon, 11 May 2026 | HK$2.7t | HK$2.6t | HK$2.6b | 10.8x | 1033.8x | 1x |
| Wed, 08 Apr 2026 | HK$2.4t | HK$2.6t | HK$804.1m | 11.1x | 2943.3x | 0.9x |
| Fri, 06 Mar 2026 | HK$2.6t | HK$2.7t | -HK$129,399,590,702.81 | 13.2x | -19.8x | 1x |
| Sun, 01 Feb 2026 | HK$2.5t | HK$2.7t | -HK$137,417,712,109.68 | 14.4x | -18.5x | 1x |
| Tue, 30 Dec 2025 | HK$2.2t | HK$2.6t | -HK$136,039,504,396.77 | 13.9x | -16.5x | 0.8x |
| Thu, 27 Nov 2025 | HK$2.4t | HK$2.6t | -HK$138,902,444,192.88 | 14.4x | -17.1x | 0.9x |
| Sat, 25 Oct 2025 | HK$2.3t | HK$2.6t | -HK$145,961,387,640.94 | 13.2x | -15.9x | 0.9x |
| Mon, 22 Sep 2025 | HK$2.4t | HK$2.6t | -HK$146,770,733,871.64 | 13.7x | -16.3x | 0.9x |
| Wed, 20 Aug 2025 | HK$2.3t | HK$3.0t | -HK$184,150,721,990.04 | 11.8x | -12.7x | 0.8x |
| Fri, 18 Jul 2025 | HK$2.2t | HK$3.0t | -HK$179,127,604,549.56 | 11.3x | -12.4x | 0.7x |
| Sun, 15 Jun 2025 | HK$2.2t | HK$3.0t | -HK$186,709,881,253.73 | 10.7x | -11.7x | 0.7x |
| Tue, 13 May 2025 | HK$2.1t | HK$3.0t | -HK$178,894,519,050.52 | 10.7x | -11.9x | 0.7x |
| Thu, 10 Apr 2025 | HK$1.9t | HK$2.9t | -HK$173,533,546,248.22 | 10.4x | -11.1x | 0.7x |
| Sat, 08 Mar 2025 | HK$2.1t | HK$3.4t | -HK$270,652,624,826.73 | 8.4x | -7.9x | 0.6x |
| Mon, 03 Feb 2025 | HK$1.9t | HK$3.4t | -HK$251,922,021,980.70 | 7.7x | -7.7x | 0.6x |
| Wed, 01 Jan 2025 | HK$2.0t | HK$3.1t | -HK$97,190,320,383.56 | 7.6x | -20.3x | 0.6x |
| Fri, 29 Nov 2024 | HK$2.0t | HK$3.1t | -HK$97,838,543,417.11 | 7.7x | -20.7x | 0.6x |
| Sun, 27 Oct 2024 | HK$2.2t | HK$3.2t | -HK$96,061,624,396.94 | 8.1x | -22.4x | 0.7x |
| Tue, 24 Sep 2024 | HK$1.9t | HK$3.2t | -HK$80,184,310,612.68 | 7.9x | -24x | 0.6x |
| Thu, 22 Aug 2024 | HK$1.9t | HK$3.4t | -HK$64,211,727,923.87 | 7.1x | -28.8x | 0.5x |
| Sat, 20 Jul 2024 | HK$2.0t | HK$3.4t | -HK$19,578,453,761.47 | 7.4x | -103.4x | 0.6x |
| Mon, 17 Jun 2024 | HK$2.1t | HK$4.0t | -HK$69,851,952,656.33 | 7.3x | -30.4x | 0.5x |
| Wed, 15 May 2024 | HK$2.3t | HK$4.0t | -HK$70,122,459,301.80 | 7.9x | -32.6x | 0.6x |
| Fri, 12 Apr 2024 | HK$2.1t | HK$4.1t | -HK$78,545,395,721.47 | 6.9x | -26.1x | 0.5x |
| Sun, 10 Mar 2024 | HK$2.1t | HK$3.9t | -HK$156,933,841,733.37 | 5.8x | -13.2x | 0.5x |
| Tue, 06 Feb 2024 | HK$2.0t | HK$3.9t | -HK$176,367,927,365.73 | 6.2x | -11.5x | 0.5x |
| Thu, 04 Jan 2024 | HK$2.3t | HK$4.0t | -HK$183,311,297,651.00 | 7x | -12.7x | 0.6x |
| Sat, 02 Dec 2023 | HK$2.3t | HK$4.0t | -HK$183,684,527,592.00 | 7.1x | -12.7x | 0.6x |
| Mon, 30 Oct 2023 | HK$2.4t | HK$4.0t | -HK$156,825,276,156.00 | 7.2x | -15.3x | 0.6x |
| Wed, 27 Sep 2023 | HK$2.5t | HK$3.9t | -HK$146,416,202,724.00 | 7.2x | -17x | 0.6x |
| Fri, 25 Aug 2023 | HK$2.7t | HK$4.6t | -HK$29,160,685,313.00 | 7.1x | -91.6x | 0.6x |
| Sun, 23 Jul 2023 | HK$2.9t | HK$4.8t | HK$18.0b | 7.4x | 160.6x | 0.6x |
Price to Earnings Ratio
160.6x
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 149x which is higher than its 3-year average PE of 51.4x.
- The industry is trading close to its 3-year average PS ratio of 0.70x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 5.8% per year over the last three years,
- Revenues have also declined 19% 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 | 2.14% | |
| Real Estate | 2.53% | |
| Real Estate | 2.62% | |
| Retail REITs | 1.76% | |
| Industrial REITs | 0.79% | |
| Office REITs | 0.11% | |
| Hotel and Resort REITs | 0% | 0 |
| REITS | -1.29% | |
Industry PE
- Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio of 1.8x.
- Analysts are expecting annual earnings growth of 18.2%, which is higher than its past year's earnings decline of 7.5% 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 18% 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 | |
|---|---|---|---|---|---|
| 16 Sun Hung Kai Properties | HK$122.30 | 8.2% +HK$27.0b | 36.0% | PE16.1x | |
| 1109 China Resources Land | HK$33.64 | 4.1% +HK$9.6b | 18.2% | PE8.2x | |
| 1113 CK Asset Holdings | HK$47.14 | 5.8% +HK$9.1b | 35.5% | PE15.2x | |
| 12 Henderson Land Development | HK$26.90 | 5.5% +HK$6.8b | 2.1% | PE23x | |
| 1997 Wharf Real Estate Investment | HK$24.02 | 6.9% +HK$4.7b | 4.9% | PS5.7x |
