Analysis Article • Apr 24
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Malaysian (KLSE) Real Estate Sector Analysis
UpdatedMay 09, 2026
DataAggregated Company Financials
Companies108
- 7D3.0%
- 3M5.0%
- 1Y19.0%
- YTD11.8%
In the last week, the Real Estate industry is up 1.5%, with IOI Properties Group Berhad up 8.0%. Meanwhile, Tropicana Corporation Berhad actually underperformed within the industry, shrinking 5.8% in the last week. In the last 12 months, the industry was up 18%. In the next few years, earnings are forecast to decline by 3.7% annually.
Sector Valuation and Performance
Has the Malaysian Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 09 May 2026 | RM 163.3b | RM 56.1b | RM 12.2b | 11.2x | 13.4x | 2.9x |
| Mon, 06 Apr 2026 | RM 145.8b | RM 55.5b | RM 12.0b | 10.5x | 12.2x | 2.6x |
| Wed, 04 Mar 2026 | RM 153.5b | RM 54.7b | RM 11.8b | 11x | 13x | 2.8x |
| Fri, 30 Jan 2026 | RM 155.2b | RM 53.3b | RM 10.8b | 12.3x | 14.3x | 2.9x |
| Sun, 28 Dec 2025 | RM 143.4b | RM 53.2b | RM 10.7b | 11.8x | 13.4x | 2.7x |
| Tue, 25 Nov 2025 | RM 141.0b | RM 51.9b | RM 9.8b | 12.7x | 14.4x | 2.7x |
| Thu, 23 Oct 2025 | RM 140.8b | RM 51.9b | RM 9.4b | 14.2x | 15x | 2.7x |
| Sat, 20 Sep 2025 | RM 139.7b | RM 51.9b | RM 9.5b | 13.1x | 14.7x | 2.7x |
| Mon, 18 Aug 2025 | RM 139.5b | RM 51.7b | RM 10.5b | 12.5x | 13.2x | 2.7x |
| Wed, 16 Jul 2025 | RM 140.3b | RM 51.8b | RM 10.5b | 13x | 13.4x | 2.7x |
| Fri, 13 Jun 2025 | RM 134.9b | RM 51.8b | RM 10.6b | 12.3x | 12.8x | 2.6x |
| Sun, 11 May 2025 | RM 136.0b | RM 52.7b | RM 10.7b | 12.3x | 12.8x | 2.6x |
| Tue, 08 Apr 2025 | RM 125.1b | RM 52.4b | RM 10.8b | 12x | 11.6x | 2.4x |
| Thu, 06 Mar 2025 | RM 133.8b | RM 52.4b | RM 10.8b | 12.6x | 12.4x | 2.6x |
| Sat, 01 Feb 2025 | RM 137.6b | RM 51.4b | RM 10.1b | 13x | 13.7x | 2.7x |
| Mon, 30 Dec 2024 | RM 142.3b | RM 51.3b | RM 9.8b | 13.6x | 14.5x | 2.8x |
| Wed, 27 Nov 2024 | RM 136.8b | RM 51.6b | RM 9.9b | 13.6x | 13.8x | 2.7x |
| Fri, 25 Oct 2024 | RM 139.7b | RM 51.0b | RM 10.0b | 13.4x | 13.9x | 2.7x |
| Sun, 22 Sep 2024 | RM 137.6b | RM 50.7b | RM 9.8b | 13.4x | 14x | 2.7x |
| Tue, 20 Aug 2024 | RM 134.2b | RM 50.2b | RM 8.3b | 14.7x | 16.1x | 2.7x |
| Thu, 18 Jul 2024 | RM 140.0b | RM 49.3b | RM 7.9b | 15x | 17.8x | 2.8x |
| Sat, 15 Jun 2024 | RM 138.7b | RM 48.6b | RM 7.6b | 15.1x | 18.3x | 2.9x |
| Mon, 13 May 2024 | RM 130.7b | RM 47.1b | RM 7.3b | 14.6x | 17.8x | 2.8x |
| Wed, 10 Apr 2024 | RM 126.8b | RM 46.9b | RM 7.3b | 14.4x | 17.3x | 2.7x |
| Fri, 08 Mar 2024 | RM 116.9b | RM 46.7b | RM 7.4b | 13.9x | 15.9x | 2.5x |
| Sun, 04 Feb 2024 | RM 117.1b | RM 46.3b | RM 7.3b | 13.4x | 16x | 2.5x |
| Tue, 02 Jan 2024 | RM 112.1b | RM 46.1b | RM 7.1b | 13x | 15.7x | 2.4x |
| Thu, 30 Nov 2023 | RM 110.3b | RM 45.6b | RM 7.0b | 12.9x | 15.7x | 2.4x |
| Sat, 28 Oct 2023 | RM 109.8b | RM 44.3b | RM 7.3b | 14.1x | 15x | 2.5x |
| Mon, 25 Sep 2023 | RM 112.9b | RM 44.2b | RM 7.2b | 15.2x | 15.8x | 2.6x |
| Wed, 23 Aug 2023 | RM 106.3b | RM 43.1b | RM 6.9b | 14.4x | 15.4x | 2.5x |
| Fri, 21 Jul 2023 | RM 101.4b | RM 43.0b | RM 6.9b | 13.1x | 14.6x | 2.4x |
| Sun, 18 Jun 2023 | RM 95.6b | RM 42.2b | RM 6.7b | 12.8x | 14.3x | 2.3x |
| Tue, 16 May 2023 | RM 94.9b | RM 40.6b | RM 6.2b | 12.7x | 15.4x | 2.3x |
Price to Earnings Ratio
15.4x
Current Industry PE
- Investors are relatively neutral on the Malaysian Real Estate industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 14.6x.
- The industry is trading close to its 3-year average PS ratio of 2.6x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 25% per year over the last three years.
- Revenues for these companies have grown 11% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Malaysian Real Estate sector?
| MY Market | 1.27% | |
| Real Estate | 2.95% | |
| Real Estate | 3.77% | |
| Retail REITs | 2.92% | |
| Hotel and Resort REITs | 2.00% | |
| Office REITs | 1.08% | |
| REITS | 0.042% | |
| Health Care REITs | 0% | 0 |
| Industrial REITs | -1.29% | |
Industry PE
- Investors are most optimistic about the Health Care REITs industry, which is trading close to its 3-year average PE ratio of 18.5x.
- Analysts are expecting annual earnings growth of 11.6%, which is higher than its past year's earnings decline of 4.4% per year.
- Investors are most pessimistic about the Industrial REITs industry, which is trading below its 3-year average of 12.8x.
Forecasted Growth
- Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 12% over the next 5 years.
- This is better than its past earnings growth rate of 5.3% per year.
- In contrast, the Industrial REITs industry is expected to see its earnings decline by 37% 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 | |
|---|---|---|---|---|---|
| IOIPG IOI Properties Group Berhad | RM 4.48 | 8.0% +RM 1.8b | 144.8% | PE10.9x | |
| SPSETIA S P Setia Berhad | RM 1.15 | 10.6% +RM 550.4m | -0.9% | PE13.4x | |
| SIMEPROP Sime Darby Property Berhad | RM 1.50 | 5.6% +RM 544.1m | 4.2% | PE19.7x | |
| PAVREIT Pavilion Real Estate Investment Trust | RM 1.89 | 5.6% +RM 392.8m | 28.6% | PB1.4x | |
| OSK OSK Holdings Berhad | RM 1.89 | 5.0% +RM 278.4m | 61.1% | PE10.2x |