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Swedish (OMX) Real Estate Sector Analysis

UpdatedMay 21, 2026
DataAggregated Company Financials
Companies58
  • 7D2.3%
  • 3M-2.0%
  • 1Y-6.5%
  • YTD-4.2%

Over the last 7 days, the Real Estate industry has remained flat, although notably Samhällsbyggnadsbolaget i Norden gained 28%. As for the longer term, the industry has declined 8.4% in the last year. As for the next few years, earnings are expected to grow by 7.9% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 21 May 2026SEK 575.2bSEK 121.6bSEK 37.7b11.9x15.2x4.7x
Sat, 18 Apr 2026SEK 608.9bSEK 120.8bSEK 39.3b12.7x15.5x5x
Mon, 16 Mar 2026SEK 579.3bSEK 120.7bSEK 40.1b12.1x14.4x4.8x
Wed, 11 Feb 2026SEK 614.9bSEK 121.1bSEK 41.7b14x14.7x5.1x
Fri, 09 Jan 2026SEK 617.9bSEK 121.0bSEK 42.6b15.2x14.5x5.1x
Sun, 07 Dec 2025SEK 601.5bSEK 121.0bSEK 42.6b14.9x14.1x5x
Tue, 04 Nov 2025SEK 618.5bSEK 120.9bSEK 38.8b14.8x16x5.1x
Thu, 02 Oct 2025SEK 600.6bSEK 119.9bSEK 30.7b17.1x19.5x5x
Sat, 30 Aug 2025SEK 606.1bSEK 119.9bSEK 30.7b16.8x19.8x5.1x
Mon, 28 Jul 2025SEK 632.2bSEK 120.3bSEK 27.3b19.3x23.2x5.3x
Wed, 25 Jun 2025SEK 638.7bSEK 120.7bSEK 28.6b19.3x22.3x5.3x
Fri, 23 May 2025SEK 597.0bSEK 121.0bSEK 27.9b18.7x21.4x4.9x
Sun, 20 Apr 2025SEK 593.8bSEK 120.0bSEK 17.2b20.9x34.6x4.9x
Tue, 18 Mar 2025SEK 609.1bSEK 119.4bSEK 16.3b20.9x37.4x5.1x
Thu, 13 Feb 2025SEK 672.4bSEK 122.3b-SEK 11,608,739,017.4725.2x-57.9x5.5x
Sat, 11 Jan 2025SEK 627.2bSEK 119.5b-SEK 28,922,527,932.5027.7x-21.7x5.2x
Mon, 09 Dec 2024SEK 675.6bSEK 118.4b-SEK 28,467,660,276.5429.6x-23.7x5.7x
Wed, 06 Nov 2024SEK 685.5bSEK 120.3b-SEK 30,393,668,939.9247.6x-22.6x5.7x
Fri, 04 Oct 2024SEK 765.9bSEK 117.5b-SEK 39,870,228,486.8059.6x-19.2x6.5x
Sun, 01 Sep 2024SEK 708.5bSEK 118.1b-SEK 39,977,683,971.0656.3x-17.7x6x
Tue, 30 Jul 2024SEK 701.3bSEK 116.8b-SEK 53,222,461,938.5057.3x-13.2x6x
Thu, 27 Jun 2024SEK 632.3bSEK 114.7b-SEK 61,913,707,420.9362.8x-10.2x5.5x
Sat, 25 May 2024SEK 651.9bSEK 115.5b-SEK 61,840,814,993.7737.4x-10.5x5.6x
Mon, 22 Apr 2024SEK 610.4bSEK 110.2b-SEK 69,032,499,155.4325.8x-8.8x5.5x
Wed, 20 Mar 2024SEK 616.3bSEK 113.3b-SEK 69,833,877,504.8923.5x-8.8x5.4x
Fri, 16 Feb 2024SEK 596.1bSEK 114.0b-SEK 97,953,466,789.8922.1x-6.1x5.2x
Sun, 14 Jan 2024SEK 626.5bSEK 113.5b-SEK 90,716,767,371.0023.4x-6.9x5.5x
Tue, 12 Dec 2023SEK 595.4bSEK 113.6b-SEK 89,814,176,017.0019.4x-6.6x5.2x
Thu, 09 Nov 2023SEK 507.6bSEK 109.7b-SEK 88,897,112,506.0020.5x-5.7x4.6x
Sat, 07 Oct 2023SEK 483.6bSEK 110.1b-SEK 78,423,708,971.0017.2x-6.2x4.4x
Mon, 04 Sep 2023SEK 526.3bSEK 110.2b-SEK 78,273,706,079.0018.8x-6.7x4.8x
Wed, 02 Aug 2023SEK 531.5bSEK 108.7b-SEK 71,006,241,213.0020.2x-7.5x4.9x
Fri, 30 Jun 2023SEK 484.9bSEK 113.3b-SEK 34,183,839,898.0012.9x-14.2x4.3x
Sun, 28 May 2023SEK 473.3bSEK 113.2b-SEK 33,778,495,820.0013.9x-14x4.2x
Price to Earnings Ratio

-14x


Total Market Cap: SEK 473.3bTotal Earnings: -SEK 33,778,495,820.00Total Revenue: SEK 113.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Real Estate Sector Price to Earnings3Y Average 0.6x202420252026
Current Industry PE
  • Investors are optimistic on the Swedish Real Estate industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 15.1x which is higher than its 3-year average PE of 0.60x.
  • The 3-year average PS ratio of 5.2x is higher than the industry's current PS ratio of 4.7x.
Past Earnings Growth
  • Total earnings for the Real Estate industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 2.4% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the Swedish Real Estate sector?

SE Market2.00%
Real Estate2.29%
Real Estate2.29%
Industry PE
  • Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio of 0.60x.
    • Analysts are expecting annual earnings growth of 7.9%, which is lower than the prior year's growth of 33.0% 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 of 0.60x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 7.9% over the next 5 years.
  • However this is lower than its past earnings growth rate of 33% per year.
  • In contrast, the Real Estate industry is expected to see its earnings grow by 7.9% 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
SBB B Samhällsbyggnadsbolaget i NordenSEK 4.0827.6%
+SEK 1.6b		-23.0%PS3.9x
CAST CastellumSEK 126.452.7%
+SEK 1.6b		8.1%PE26.3x
PNDX B PandoxSEK 181.203.2%
+SEK 1.1b		13.1%PE9.6x
HUFV A HufvudstadenSEK 128.004.2%
+SEK 1.0b		8.9%PE23.7x
SAGA A AB SagaxSEK 176.001.1%
+SEK 929.4m		-14.6%PE18x

Latest News

TINGS A
SEK 43.40
Tingsvalvet Fastighets
7D
-5.2%
1Y
24.7%
TITA B
SEK 7.82
Titania Holding
7D
-1.5%
1Y
-4.6%
CATE
SEK 443.20
Catena
7D
2.2%
1Y
-2.8%
Narrative Update • May 19

CATE: Dividend Plan And Logistics Acquisition Will Support Steady Forward Outlook

Analysts are keeping Catena's fair value unchanged at SEK 450.00 while fine tuning assumptions around discount rate, revenue growth, profit margin and future P/E. Together, these inputs support a steady price target despite the updated assumptions.
SAGA A
SEK 176.00
AB Sagax
7D
1.1%
1Y
-14.6%
Analysis Article • May 15

AB Sagax's (STO:SAGA A) Weak Earnings May Only Reveal A Part Of The Whole Picture

Last week's earnings announcement from AB Sagax (publ) ( STO:SAGA A ) was disappointing to investors, with a sluggish...
GPG
SEK 35.60
Genova Property Group
7D
-3.8%
1Y
-22.1%
ALM
SEK 50.20
ALM Equity
7D
-2.3%
1Y
-39.8%
Analysis Article • May 13

This ALM Equity AB (publ) (STO:ALM) Analyst Is Way More Bearish Than They Used To Be

One thing we could say about the covering analyst on ALM Equity AB (publ) ( STO:ALM ) - they aren't optimistic, having...
ACRI A
SEK 7.30
Acrinova
7D
-18.9%
1Y
-40.2%
K2A B
SEK 5.00
K2A Knaust & Andersson Fastigheter
7D
-3.1%
1Y
-23.2%
PNDX B
SEK 181.20
Pandox
7D
3.2%
1Y
13.1%
HUFV A
SEK 128.00
Hufvudstaden
7D
4.2%
1Y
8.9%
SBB B
SEK 4.08
Samhällsbyggnadsbolaget i Norden
7D
27.6%
1Y
-23.0%
WIHL
SEK 85.30
Wihlborgs Fastigheter
7D
2.0%
1Y
-11.9%
Narrative Update • May 04

WIHL: Long Leases And Copenhagen Expansion Will Support Future Cash Flows

Analysts have trimmed their price target for Wihlborgs Fastigheter from SEK 105.33 to SEK 100.43, citing updated assumptions that reflect a higher discount rate, more moderate revenue growth expectations, a stronger profit margin profile, and a lower future P/E multiple. What's in the News The Annual General Meeting on 22 April 2026 approved a dividend for 2025 of SEK 3.30 per share, with a record date of 24 April 2026 and cash payment scheduled for 29 April 2026 via Euroclear Sweden AB (AGM resolution).
CAST
SEK 126.45
Castellum
7D
2.7%
1Y
8.1%
Narrative Update • May 01

CAST: Softer Margins And Dividend Halt Will Pressure Future Earnings Resilience

Analysts keep the fair value estimate for Castellum steady at SEK 105.00. However, the updated price target reflects slightly softer growth and margin assumptions along with a lower future P/E multiple, in line with the mixed recent research where one firm turned more cautious while another upgraded the shares.
CORE A
SEK 3.99
Corem Property Group
7D
-2.9%
1Y
-27.5%
FABG
SEK 80.45
Fabege
7D
2.7%
1Y
-2.0%
Narrative Update • Apr 27

FABG: Higher Discount Rate And Undervalued P E May Support Future Upside

Analysts have lowered their price target on Fabege to SEK 80 from SEK 85, reflecting updated assumptions around fair value, discount rate, growth, margins and future P/E expectations. Analyst Commentary Recent research points to a more cautious stance on Fabege, with the latest move being a reduction in the price target to SEK 80 from SEK 85, alongside an Underweight rating.
EMIL B
SEK 55.20
Fastighetsbolaget Emilshus
7D
-3.2%
1Y
18.6%