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Hong Kong (HSI) Real Estate Sector Analysis

UpdatedMar 01, 2026
DataAggregated Company Financials
Companies236
  • 7D2.7%
  • 3M14.6%
  • 1Y32.8%
  • YTD18.9%

In the last week, the Real Estate industry is up 2.7%, with Sun Hung Kai Properties up 7.6%. During this same period, the Greentown China Holdings underperformed, falling 5.9%. This means that the industry has gained 33% over the past year. Earnings are forecast to grow by 23% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 01 Mar 2026HK$2.7tHK$2.7t-HK$135,408,936,923.1015.1x-19.9x1x
Tue, 27 Jan 2026HK$2.4tHK$2.7t-HK$136,960,555,177.5714.4x-17.9x0.9x
Thu, 25 Dec 2025HK$2.3tHK$2.6t-HK$135,946,531,652.3614x-16.7x0.9x
Sat, 22 Nov 2025HK$2.3tHK$2.6t-HK$137,343,282,853.6313.6x-17x0.9x
Mon, 20 Oct 2025HK$2.3tHK$2.6t-HK$145,732,778,672.2613.8x-15.7x0.9x
Wed, 17 Sep 2025HK$2.4tHK$2.6t-HK$143,336,691,788.5113.7x-16.8x0.9x
Fri, 15 Aug 2025HK$2.4tHK$3.0t-HK$181,767,067,655.8011.6x-13.1x0.8x
Sun, 13 Jul 2025HK$2.2tHK$3.0t-HK$179,347,898,616.9411.2x-12.5x0.7x
Tue, 10 Jun 2025HK$2.1tHK$3.0t-HK$187,039,340,953.4010.6x-11.4x0.7x
Thu, 08 May 2025HK$2.1tHK$3.0t-HK$178,017,675,136.6810.7x-11.7x0.7x
Sat, 05 Apr 2025HK$2.1tHK$3.0t-HK$172,429,529,169.7710.7x-12x0.7x
Mon, 03 Mar 2025HK$2.1tHK$3.4t-HK$268,722,499,265.238.5x-7.7x0.6x
Wed, 29 Jan 2025HK$1.9tHK$3.4t-HK$252,239,639,625.527.7x-7.7x0.6x
Fri, 27 Dec 2024HK$2.0tHK$3.1t-HK$97,254,790,840.557.5x-20.4x0.6x
Sun, 24 Nov 2024HK$2.0tHK$3.1t-HK$96,904,844,587.247.6x-20.8x0.6x
Tue, 22 Oct 2024HK$2.2tHK$3.2t-HK$96,166,677,452.708.2x-22.8x0.7x
Thu, 19 Sep 2024HK$1.8tHK$3.2t-HK$79,924,060,390.527.4x-23.1x0.6x
Sat, 17 Aug 2024HK$1.9tHK$3.4t-HK$62,190,205,145.657x-30x0.6x
Mon, 15 Jul 2024HK$2.1tHK$3.5t-HK$19,734,566,986.197.5x-107.2x0.6x
Wed, 12 Jun 2024HK$2.2tHK$4.0t-HK$69,917,291,650.637.4x-31.4x0.5x
Fri, 10 May 2024HK$2.2tHK$4.0t-HK$70,393,300,101.197.4x-31.6x0.6x
Sun, 07 Apr 2024HK$2.0tHK$4.1t-HK$78,934,616,787.567.2x-25.9x0.5x
Tue, 05 Mar 2024HK$2.1tHK$3.9t-HK$166,927,239,729.856.2x-12.7x0.5x
Thu, 01 Feb 2024HK$2.1tHK$4.1t-HK$185,687,061,334.006.2x-11.3x0.5x
Sat, 30 Dec 2023HK$2.4tHK$4.1t-HK$185,184,553,215.007x-13x0.6x
Mon, 27 Nov 2023HK$2.5tHK$4.0t-HK$179,612,679,162.007.4x-13.8x0.6x
Wed, 25 Oct 2023HK$2.4tHK$4.0t-HK$157,040,181,581.007x-15x0.6x
Fri, 22 Sep 2023HK$2.6tHK$4.0t-HK$139,994,337,760.007.1x-18.2x0.6x
Sun, 20 Aug 2023HK$2.7tHK$4.6t-HK$26,575,495,895.007.1x-100x0.6x
Tue, 18 Jul 2023HK$2.9tHK$4.8tHK$17.1b7.4x170.2x0.6x
Thu, 15 Jun 2023HK$3.0tHK$4.8tHK$16.8b7.5x179.4x0.6x
Sat, 13 May 2023HK$3.1tHK$4.9tHK$12.5b7.8x251.4x0.6x
Mon, 10 Apr 2023HK$3.3tHK$5.2tHK$107.8b7.5x30.9x0.6x
Wed, 08 Mar 2023HK$3.5tHK$5.5tHK$369.7b6.3x9.5x0.6x
Price to Earnings Ratio

9.5x


Total Market Cap: HK$3.5tTotal Earnings: HK$369.7bTotal Revenue: HK$5.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Real Estate Sector Price to Earnings3Y Average -2.8x202420252026
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 0.67x.
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 21% per year, which is driving profits down.

Industry Trends

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

HK Market0.15%
Real Estate2.67%
Hotel and Resort REITs7.14%
Office REITs5.09%
Retail REITs4.00%
Industrial REITs2.85%
Real Estate2.60%
REITS1.55%
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 20% 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$146.007.6%
    +HK$29.8b    		100.5%PE19.2x
    		1113 CK Asset HoldingsHK$49.786.4%
    +HK$10.4b    		47.3%PE15.3x
    		1972 Swire PropertiesHK$27.006.1%
    +HK$9.0b    		75.3%PS9.6x
    		12 Henderson Land DevelopmentHK$35.445.2%
    +HK$8.5b    		66.8%PE28.5x
    		1109 China Resources LandHK$31.782.0%
    +HK$4.4b    		22.2%PE7.3x

    Latest News

    16
    HK$146.00
    Sun Hung Kai Properties
    7D
    7.6%
    1Y
    100.5%
    1997
    HK$28.90
    Wharf Real Estate Investment
    7D
    2.1%
    1Y
    42.4%
    12
    HK$35.44
    Henderson Land Development
    7D
    5.2%
    1Y
    66.8%
    1972
    HK$27.00
    Swire Properties
    7D
    6.1%
    1Y
    75.3%

    1972: Lower Discount Rate And Dividend Plans Will Support Steady Outlook

    Analysts have nudged their price target on Swire Properties up to HK$26.10 from HK$24.86, reflecting updated assumptions around discount rates, profit margins and future P/E multiples. What's in the News Board meeting scheduled for March 12, 2026 to review and announce annual results for the year ending December 31, 2025 (company event filing) Board expected to consider a second interim dividend for 2025, intended to serve in place of a final dividend for the year (company event filing) Investors may watch the March 12, 2026 meeting for clarity on 2025 results and the company’s dividend approach for the year (company event filing) Valuation Changes Fair Value: HK$24.86 has been updated to HK$26.10, suggesting a modest uplift in the assessed valuation per share.
    4
    HK$25.90
    Wharf (Holdings)
    7D
    2.2%
    1Y
    43.3%

    4: Fair Outlook Will Reflect Higher Profitability Assumptions And Elevated Future P/E

    Analysts have raised their price target on Wharf (Holdings) from HK$25.50 to HK$28.00, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E that together point to a modestly higher valuation range. Valuation Changes Fair Value: increased from HK$25.50 to HK$28.00, indicating a slightly higher assessed valuation range.
    1113
    HK$49.78
    CK Asset Holdings
    7D
    6.4%
    1Y
    47.3%

    1113: Revised Revenue And Margin Assumptions Will Limit Future Earnings Multiple Upside

    Analysts have lifted their fair value estimate for CK Asset Holdings from HK$40.40 to roughly HK$42.59, citing updated assumptions that include a revised discount rate, revenue outlook, profit margin profile, and future P/E expectations. Valuation Changes Fair Value: Adjusted from HK$40.40 to about HK$42.59, a modest upward move in the estimate.
    1030
    HK$2.30
    Seazen Group
    7D
    -3.4%
    1Y
    9.0%
    823
    HK$38.76
    Link Real Estate Investment Trust
    7D
    4.1%
    1Y
    10.0%
    1209
    HK$47.60
    China Resources Mixc Lifestyle Services
    7D
    -0.8%
    1Y
    47.4%
    3900
    HK$10.46
    Greentown China Holdings
    7D
    -5.9%
    1Y
    -9.0%

    Greentown China Holdings Limited's (HKG:3900) 29% Share Price Surge Not Quite Adding Up

    Jan 28
    Greentown China Holdings Limited's (HKG:3900) 29% Share Price Surge Not Quite Adding Up
    247
    HK$20.28
    Tsim Sha Tsui Properties
    7D
    -2.5%
    1Y
    2.4%
    1109
    HK$31.78
    China Resources Land
    7D
    2.0%
    1Y
    22.2%
    147
    HK$0.11
    International Business Settlement Holdings
    7D
    -25.7%
    1Y
    41.0%
    108
    HK$2.33
    GR Life Style
    7D
    -7.2%
    1Y
    247.8%
    697
    HK$2.20
    Shoucheng Holdings
    7D
    -6.4%
    1Y
    29.4%
    3380
    HK$1.29
    Logan Group
    7D
    -7.9%
    1Y
    24.0%

    Is Logan Group (HKG:3380) Using Debt In A Risky Way?

    Oct 05
    Is Logan Group (HKG:3380) Using Debt In A Risky Way?