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Norwegian (OSEAX) Real Estate Sector Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies8
  • 7D0.8%
  • 3M7.4%
  • 1Y28.3%
  • YTD25.7%

The Real Estate is pretty flat in the last 7 days, but Public Property Invest has stood out, gaining 4.8%. As for the the longer term, the industry is up 28% over the past 12 months. In the next few years earnings are forecast to be pretty stable.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025NOK 101.6bNOK 14.5bNOK 6.2b15.3x16.5x7x
Sat, 22 Nov 2025NOK 97.7bNOK 14.0bNOK 5.8b16.3x16.8x7x
Mon, 20 Oct 2025NOK 88.4bNOK 13.6bNOK 5.7b15.5x15.5x6.5x
Wed, 17 Sep 2025NOK 89.1bNOK 13.6bNOK 5.6b18x16x6.6x
Fri, 15 Aug 2025NOK 94.7bNOK 14.0bNOK 5.6b17.8x17x6.8x
Sun, 13 Jul 2025NOK 94.2bNOK 14.6bNOK 6.5b17.1x14.5x6.5x
Tue, 10 Jun 2025NOK 87.2bNOK 14.5bNOK 5.8b16.7x15x6x
Thu, 08 May 2025NOK 83.3bNOK 15.0bNOK 5.4b18.6x15.4x5.6x
Sat, 05 Apr 2025NOK 80.0bNOK 15.0bNOK 4.2b15.5x18.9x5.3x
Mon, 03 Mar 2025NOK 81.2bNOK 15.2bNOK 3.4b16.2x24x5.3x
Wed, 29 Jan 2025NOK 76.8bNOK 15.0b-NOK 3,863,868,625.3013.8x-19.9x5.1x
Fri, 27 Dec 2024NOK 75.5bNOK 15.0b-NOK 3,863,875,865.6413.9x-19.5x5x
Sun, 24 Nov 2024NOK 75.4bNOK 15.2b-NOK 3,569,742,272.5416.7x-21.1x4.9x
Tue, 22 Oct 2024NOK 80.1bNOK 15.3b-NOK 4,856,708,803.8434.1x-16.5x5.2x
Thu, 19 Sep 2024NOK 81.0bNOK 15.4b-NOK 6,960,101,958.2836.6x-11.6x5.3x
Sat, 17 Aug 2024NOK 80.1bNOK 15.2b-NOK 6,874,370,261.2427.3x-11.6x5.3x
Mon, 15 Jul 2024NOK 77.9bNOK 15.4b-NOK 6,952,904,380.4922.2x-11.2x5x
Wed, 12 Jun 2024NOK 75.2bNOK 15.4b-NOK 8,144,841,619.0714.9x-9.2x4.9x
Fri, 10 May 2024NOK 76.1bNOK 15.1b-NOK 8,546,518,701.3831.3x-8.9x5.1x
Sun, 07 Apr 2024NOK 72.6bNOK 14.5b-NOK 7,039,916,852.0629.7x-10.3x5x
Tue, 05 Mar 2024NOK 69.5bNOK 14.7b-NOK 7,039,925,954.9031.3x-9.9x4.7x
Thu, 01 Feb 2024NOK 69.8bNOK 14.8b-NOK 3,203,985,509.0015.8x-21.8x4.7x
Sat, 30 Dec 2023NOK 67.1bNOK 14.8b-NOK 3,203,913,417.0015.9x-20.9x4.5x
Mon, 27 Nov 2023NOK 59.0bNOK 15.5b-NOK 2,896,540,095.0014.1x-20.4x3.8x
Wed, 25 Oct 2023NOK 55.9bNOK 15.8b-NOK 1,980,597,825.0012.1x-28.2x3.5x
Fri, 22 Sep 2023NOK 59.5bNOK 15.8b-NOK 3,047,178,662.0012.6x-19.5x3.8x
Sun, 20 Aug 2023NOK 60.8bNOK 16.3b-NOK 2,973,830,832.0012.8x-20.4x3.7x
Tue, 18 Jul 2023NOK 60.5bNOK 16.2b-NOK 1,689,552,292.0011.1x-35.8x3.7x
Thu, 15 Jun 2023NOK 62.3bNOK 16.1b-NOK 689,812,456.0011.1x-90.3x3.9x
Sat, 13 May 2023NOK 63.7bNOK 16.4bNOK 1.4b9.5x45.4x3.9x
Mon, 10 Apr 2023NOK 63.7bNOK 16.3bNOK 4.3b9.7x14.7x3.9x
Wed, 08 Mar 2023NOK 65.7bNOK 16.1bNOK 7.5b9x8.7x4.1x
Fri, 03 Feb 2023NOK 66.8bNOK 16.6bNOK 10.7b6.6x6.2x4x
Sun, 01 Jan 2023NOK 62.9bNOK 16.6bNOK 10.7b6.6x5.9x3.8x
Price to Earnings Ratio

5.9x


Total Market Cap: NOK 62.9bTotal Earnings: NOK 10.7bTotal Revenue: NOK 16.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Real Estate Sector Price to Earnings3Y Average -6.2x202320242025
Current Industry PE
  • Investors are pessimistic on the Norwegian Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 16.2x which is higher than its 3-year average PE of -6.2x.
  • The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 6.9x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 17% per year over the last three years,
  • Revenues have also declined 4.5% 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 Norwegian Real Estate sector?

NO Market1.89%
Real Estate0.83%
Real Estate0.83%
Industry PE
  • Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 0.8%, which is lower than the prior year's growth of 673.8% per year.
  • Investors are most pessimistic about the Real Estate industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 0.8% over the next 5 years.
  • In contrast, the Real Estate industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PUBLI Public Property InvestNOK 22.854.8%
+NOK 604.1m		32.8%PE20.2x
ENTRA EntraNOK 113.800.5%
+NOK 109.3m		0%PE14.9x
OLT Olav Thon EiendomsselskapNOK 334.000.3%
+NOK 101.5m		48.4%PE14x
SBO Selvaag BoligNOK 35.902.7%
+NOK 89.1m		0.7%PE66.7x
BALT Baltic Sea PropertiesNOK 54.004.9%
+NOK 21.7m		10.2%PE8.8x

Latest News

BALT
NOK 54.00
Baltic Sea Properties
7D
4.9%
1Y
10.2%
KMCP
NOK 6.01
KMC Properties
7D
-2.8%
1Y
15.5%
PUBLI
NOK 22.85
Public Property Invest
7D
4.8%
1Y
32.8%
ENTRA
NOK 113.80
Entra
7D
0.5%
1Y
0%

ENTRA: Upgraded Rating And New Leases Are Expected To Support Stability

Analysts have raised their price target on Entra to NOK 140.00 from NOK 119.50, citing an improved outlook that supports a slightly lower fair value estimate and marginally refined assumptions on growth, profitability, and valuation multiples. Analyst Commentary Analysts view the upgraded rating and higher price target as a signal that the risk reward profile for Entra has improved, even if the adjustment in fair value remains modest.
OLT
NOK 334.00
Olav Thon Eiendomsselskap
7D
0.3%
1Y
48.4%
SBO
NOK 35.90
Selvaag Bolig
7D
2.7%
1Y
0.7%