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Hong Kong (HSI) Real Estate Sector Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies234
  • 7D-4.7%
  • 3M10.9%
  • 1Y21.0%
  • YTD11.3%

Over the last 7 days, the Real Estate industry has dropped 4.7%, driven by Sun Hung Kai Properties declining 5.6%. In contrast, GR Life Style has gained 19%. This takes the industry's 12 month performance to a gain of 21%. 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
Tue, 10 Mar 2026HK$2.5tHK$2.7t-HK$128,982,810,564.2613.3x-19.5x0.9x
Thu, 05 Feb 2026HK$2.6tHK$2.7t-HK$137,533,780,842.0014.2x-18.7x1x
Sat, 03 Jan 2026HK$2.3tHK$2.7t-HK$136,474,401,146.9213.8x-16.6x0.9x
Mon, 01 Dec 2025HK$2.3tHK$2.6t-HK$134,220,964,485.7814.3x-17.4x0.9x
Wed, 29 Oct 2025HK$2.3tHK$2.6t-HK$147,685,995,099.2713.7x-15.7x0.9x
Fri, 26 Sep 2025HK$2.3tHK$2.6t-HK$147,493,794,277.4413.7x-15.6x0.9x
Sun, 24 Aug 2025HK$2.3tHK$3.0t-HK$186,229,351,551.7612.1x-12.6x0.8x
Tue, 22 Jul 2025HK$2.3tHK$3.0t-HK$179,208,355,133.8011.2x-12.6x0.8x
Thu, 19 Jun 2025HK$2.2tHK$3.0t-HK$186,592,858,217.0710.7x-11.7x0.7x
Sat, 17 May 2025HK$2.1tHK$3.0t-HK$179,379,051,569.2610.5x-11.7x0.7x
Mon, 14 Apr 2025HK$2.0tHK$2.9t-HK$176,206,418,067.1410.4x-11.2x0.7x
Wed, 12 Mar 2025HK$2.1tHK$3.4t-HK$270,514,030,470.308.3x-7.9x0.6x
Fri, 07 Feb 2025HK$1.9tHK$3.4t-HK$250,487,299,099.027.6x-7.7x0.6x
Sun, 05 Jan 2025HK$2.0tHK$3.1t-HK$97,123,590,651.287.5x-20.2x0.6x
Tue, 03 Dec 2024HK$2.0tHK$3.1t-HK$101,162,854,014.077.9x-20.2x0.7x
Thu, 31 Oct 2024HK$2.2tHK$3.2t-HK$97,678,229,996.488.2x-22.1x0.7x
Sat, 28 Sep 2024HK$2.2tHK$3.2t-HK$91,430,528,912.568x-24.3x0.7x
Mon, 26 Aug 2024HK$1.8tHK$3.4t-HK$77,381,507,963.837.2x-23.8x0.5x
Wed, 24 Jul 2024HK$2.0tHK$3.4t-HK$19,488,305,737.227.3x-102.6x0.6x
Fri, 21 Jun 2024HK$2.1tHK$4.0t-HK$70,591,450,154.187.3x-29.5x0.5x
Sun, 19 May 2024HK$2.5tHK$4.0t-HK$70,052,349,097.328.2x-35.1x0.6x
Tue, 16 Apr 2024HK$2.0tHK$4.0t-HK$78,826,766,760.737x-25.2x0.5x
Thu, 14 Mar 2024HK$2.2tHK$3.9t-HK$156,377,490,719.696.2x-13.9x0.6x
Sat, 10 Feb 2024HK$2.1tHK$3.9t-HK$174,078,556,560.066.2x-12x0.5x
Mon, 08 Jan 2024HK$2.3tHK$4.0t-HK$183,664,735,025.006.9x-12.6x0.6x
Wed, 06 Dec 2023HK$2.3tHK$4.0t-HK$183,712,067,638.007x-12.4x0.6x
Fri, 03 Nov 2023HK$2.4tHK$4.0t-HK$157,741,410,442.006.9x-15.1x0.6x
Sun, 01 Oct 2023HK$2.5tHK$4.0t-HK$154,748,901,536.007.4x-16.4x0.6x
Tue, 29 Aug 2023HK$2.6tHK$4.1t-HK$40,010,181,519.007x-66.1x0.7x
Thu, 27 Jul 2023HK$3.0tHK$4.8tHK$17.7b7.4x167.7x0.6x
Sat, 24 Jun 2023HK$2.9tHK$4.8tHK$17.1b7.1x169.2x0.6x
Mon, 22 May 2023HK$3.0tHK$4.9tHK$13.9b7.5x217.5x0.6x
Wed, 19 Apr 2023HK$3.4tHK$5.0tHK$32.9b8.1x103.8x0.7x
Fri, 17 Mar 2023HK$3.3tHK$5.5tHK$330.9b6x9.9x0.6x
Price to Earnings Ratio

9.9x


Total Market Cap: HK$3.3tTotal Earnings: HK$330.9bTotal Revenue: HK$5.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Real Estate Sector Price to Earnings3Y Average -3x202420252026
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 Market-1.73%
Real Estate-4.70%
Retail REITs-1.58%
REITS-1.87%
Industrial REITs-3.10%
Office REITs-3.13%
Hotel and Resort REITs-4.05%
Real Estate-4.87%
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
    		108 GR Life StyleHK$2.7227.1%
    +HK$1.9b    		294.2%PS28.9x
    		1396 Guangdong - Hong Kong Greater Bay Area HoldingsHK$6.7718.6%
    +HK$1.2b    		853.5%PE42.7x
    		2602 OnewoHK$19.603.9%
    +HK$844.8m    		-19.0%PE16.9x
    		1918 Sunac China HoldingsHK$1.123.7%
    +HK$647.7m    		-37.4%PS0.3x
    		1109 China Resources LandHK$30.600.1%
    +HK$285.2m    		18.4%PE7x

    Latest News

    688
    HK$13.30
    China Overseas Land & Investment
    7D
    -2.7%
    1Y
    -10.5%
    1396
    HK$6.77
    Guangdong - Hong Kong Greater Bay Area Holdings
    7D
    18.6%
    1Y
    853.5%
    12
    HK$32.12
    Henderson Land Development
    7D
    -7.5%
    1Y
    38.4%
    1972
    HK$25.06
    Swire Properties
    7D
    -2.9%
    1Y
    55.5%

    1972: Higher Margins And Steady Earnings Multiple Will Support Balanced Outlook

    Analysts have nudged their fair value estimate for Swire Properties up from HK$26.10 to about HK$26.96. They point to updated assumptions around discount rates, revenue growth, profit margins and future P/E as key drivers behind the revised price target.
    4
    HK$23.60
    Wharf (Holdings)
    7D
    -7.5%
    1Y
    13.5%

    4: Lower Discount Rate And Dividend Outlook Will Shape Future Returns

    Analysts have lifted their price target on Wharf (Holdings) from about HK$21.64 to roughly HK$23.73, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E as key drivers of the change. What's in the News Board meeting scheduled for March 12, 2026 to review the final results announcement for the year ended December 31, 2025, which will provide updated visibility on recent financial performance (Key Developments).
    2602
    HK$19.60
    Onewo
    7D
    3.9%
    1Y
    -19.0%
    16
    HK$139.50
    Sun Hung Kai Properties
    7D
    -2.3%
    1Y
    81.4%

    16: Higher Fair Value And Dividend Plans Will Support A Steady Outlook

    Analysts have raised their price target for Sun Hung Kai Properties from HK$102.50 to about HK$144.30, citing updated assumptions that include a slightly lower discount rate, a more conservative revenue outlook, improved profit margin expectations and a higher future P/E multiple. What's in the News Sun Hung Kai Properties declared an ordinary interim dividend of HK$0.98 per share for the six months ended 31 December 2025, with payment scheduled for 19 March 2026 (Key Developments).
    83
    HK$11.57
    Sino Land
    7D
    -4.9%
    1Y
    47.8%
    2669
    HK$4.28
    China Overseas Property Holdings
    7D
    1.7%
    1Y
    -17.7%
    1997
    HK$26.84
    Wharf Real Estate Investment
    7D
    -2.6%
    1Y
    31.2%
    199
    HK$1.10
    ITC Properties Group
    7D
    17.0%
    1Y
    475.9%
    101
    HK$9.13
    Hang Lung Properties
    7D
    -5.4%
    1Y
    35.3%

    101: Upcoming Results And Dividend Will Shape Fairly Balanced Return Outlook

    Analysts have slightly raised their price target for Hang Lung Properties to HK$10.57 from HK$10.43, reflecting updated assumptions for a lower discount rate and a more moderate future P/E multiple. What's in the News Board meeting scheduled for January 30, 2026, to consider and approve the annual results of Hang Lung Properties and its subsidiaries for the year ended December 31, 2025 (Key Developments).
    1030
    HK$2.24
    Seazen Group
    7D
    0.9%
    1Y
    2.8%
    1918
    HK$1.12
    Sunac China Holdings
    7D
    3.7%
    1Y
    -37.4%
    1109
    HK$30.60
    China Resources Land
    7D
    0.1%
    1Y
    18.4%
    108
    HK$2.72
    GR Life Style
    7D
    27.1%
    1Y
    294.2%