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Singaporean (SGX) Real Estate Sector Analysis

UpdatedJan 19, 2026
DataAggregated Company Financials
Companies88
  • 7D2.2%
  • 3M8.8%
  • 1Y27.5%
  • YTD5.1%

Over the last 7 days, the Real Estate industry has risen 2.2%, driven by gains from Hongkong Land Holdings of 6.9%. This takes the industry's 12 month performance to a gain of 27%. As for the next few years, earnings are expected to grow by 14% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 19 Jan 2026S$182.3bS$41.8bS$6.3b19x28.8x4.4x
Wed, 17 Dec 2025S$170.1bS$41.7bS$6.3b18x26.9x4.1x
Fri, 14 Nov 2025S$172.3bS$42.6bS$6.4b17.7x26.9x4x
Sun, 12 Oct 2025S$168.5bS$42.6bS$6.1b18x27.6x4x
Tue, 09 Sep 2025S$166.7bS$42.7bS$6.1b17.9x27.5x3.9x
Thu, 07 Aug 2025S$157.3bS$44.0bS$5.6b18.6x27.9x3.6x
Sat, 05 Jul 2025S$153.3bS$45.4bS$4.8b17.8x31.7x3.4x
Mon, 02 Jun 2025S$142.5bS$44.9bS$4.8b17.9x29.8x3.2x
Wed, 30 Apr 2025S$160.0bS$45.2bS$4.8b19.2x33.5x3.5x
Fri, 28 Mar 2025S$147.1bS$45.4bS$4.7b20.1x31x3.2x
Sun, 23 Feb 2025S$140.7bS$47.8bS$4.9b15.6x28.5x2.9x
Tue, 21 Jan 2025S$144.5bS$47.9bS$3.9b17.4x36.7x3x
Thu, 19 Dec 2024S$142.3bS$47.9bS$3.9b16.1x36.3x3x
Sat, 16 Nov 2024S$144.7bS$47.9bS$3.9b14.8x36.8x3x
Mon, 14 Oct 2024S$152.1bS$47.2bS$3.6b14.3x41.9x3.2x
Wed, 11 Sep 2024S$147.7bS$47.0bS$3.6b13x41.6x3.1x
Fri, 09 Aug 2024S$136.8bS$47.5bS$4.1b12.7x33.2x2.9x
Sun, 07 Jul 2024S$135.9bS$47.1bS$4.2b13.6x32x2.9x
Tue, 04 Jun 2024S$138.8bS$47.8bS$4.0b13.8x34.7x2.9x
Thu, 02 May 2024S$139.2bS$48.0bS$4.1b15.8x34.1x2.9x
Sat, 30 Mar 2024S$141.3bS$47.8bS$4.5b15x31.3x3x
Mon, 26 Feb 2024S$144.3bS$45.8bS$5.3b15.1x27.3x3.1x
Wed, 24 Jan 2024S$153.2bS$47.7bS$6.7b14.8x23x3.2x
Fri, 22 Dec 2023S$155.7bS$47.8bS$6.7b15.3x23.3x3.3x
Sun, 19 Nov 2023S$151.1bS$47.8bS$6.6b14.4x22.8x3.2x
Tue, 17 Oct 2023S$151.2bS$47.7bS$8.2b14.2x18.3x3.2x
Thu, 14 Sep 2023S$155.5bS$47.5bS$8.2b15.3x18.9x3.3x
Sat, 12 Aug 2023S$159.2bS$46.6bS$9.3b15.5x17.1x3.4x
Mon, 10 Jul 2023S$159.1bS$45.4bS$12.4b12.4x12.9x3.5x
Wed, 07 Jun 2023S$162.5bS$45.5bS$12.4b12.6x13.1x3.6x
Fri, 05 May 2023S$169.7bS$45.3bS$12.5b13.1x13.6x3.7x
Sun, 02 Apr 2023S$168.7bS$45.2bS$12.9b12.7x13.1x3.7x
Tue, 28 Feb 2023S$169.5bS$45.4bS$13.9b11.9x12.2x3.7x
Thu, 26 Jan 2023S$173.2bS$44.3bS$15.4b10.2x11.3x3.9x
Price to Earnings Ratio

11.3x


Total Market Cap: S$173.2bTotal Earnings: S$15.4bTotal Revenue: S$44.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Real Estate Sector Price to Earnings3Y Average 26.8x202420252026
Current Industry PE
  • Investors are relatively neutral on the Singaporean 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 26.8x.
  • The 3-year average PS ratio of 3.3x is lower than the industry's current PS ratio of 4.4x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 26% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

SG Market1.97%
Real Estate2.17%
Real Estate4.42%
Specialized REITs1.03%
Office REITs0.89%
Hotel and Resort REITs0.61%
Retail REITs0.50%
Industrial REITs0.48%
REITS0.24%
Residential REITs0%0
Health Care REITs-0.20%
Industry PE
  • Investors are most optimistic about the Real Estate industry, which is trading close to its 3-year average PE ratio of 47.8x.
    • Analysts expect its future annual earnings growth (21.2%) to be largely in line with prior year's earnings growth.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Health Care REITs industry is expected to see its earnings grow by 4.7% 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
H78 Hongkong Land HoldingsUS$8.192.9%
+US$488.8m		90.9%PS9.9x
U14 UOL GroupS$10.066.3%
+S$507.6m		97.3%PE19.6x
9CI CapitaLand InvestmentS$2.961.4%
+S$199.5m		19.4%PE33.9x
C09 City DevelopmentsS$9.041.8%
+S$142.9m		77.3%PE41.5x
U06 Singapore Land GroupS$3.332.5%
+S$114.6m		76.2%PE16.3x

Latest News

C2PU
S$4.12
Parkway Life Real Estate Investment Trust
7D
-1.4%
1Y
6.2%
ADN
S$1.00
First Sponsor Group
7D
-4.8%
1Y
-8.3%
H78
US$8.19
Hongkong Land Holdings
7D
2.9%
1Y
90.9%
C09
S$9.04
City Developments
7D
1.8%
1Y
77.3%
Z25
S$0.71
Yanlord Land Group
7D
-5.3%
1Y
16.3%

Yanlord Land Group Limited (SGX:Z25) Looks Inexpensive But Perhaps Not Attractive Enough

Jan 12
Yanlord Land Group Limited (SGX:Z25) Looks Inexpensive But Perhaps Not Attractive Enough
AJBU
S$2.23
Keppel DC REIT
7D
-0.4%
1Y
0%
K71U
S$0.97
Keppel REIT
7D
-1.5%
1Y
10.9%
C38U
S$2.40
CapitaLand Integrated Commercial Trust
7D
-1.2%
1Y
21.8%

C38U: Future Returns Will Reflect Scale Led Acquisitions And Yield Trade Off

Analysts have raised their price target for CapitaLand Integrated Commercial Trust to S$2.59 from S$2.31, citing its scale and relatively lower dividend yield as reasons they see it as better positioned to pursue acquisition opportunities. Analyst Commentary Goldman Sachs has upgraded CapitaLand Integrated Commercial Trust to Buy from Neutral, with a higher price target of S$2.59, up from S$2.31.
TS0U
S$0.36
OUE Real Estate Investment Trust
7D
-1.4%
1Y
20.0%
9CI
S$2.96
CapitaLand Investment
7D
1.4%
1Y
19.4%
TQ5
S$1.17
Frasers Property
7D
1.7%
1Y
23.8%

Frasers Property (SGX:TQ5) Is Paying Out A Dividend Of SGD0.045

Dec 23
Frasers Property (SGX:TQ5) Is Paying Out A Dividend Of SGD0.045
F17
S$2.23
GuocoLand
7D
3.7%
1Y
52.7%

GuocoLand (SGX:F17) Takes On Some Risk With Its Use Of Debt

Dec 15
GuocoLand (SGX:F17) Takes On Some Risk With Its Use Of Debt
U14
S$10.06
UOL Group
7D
6.3%
1Y
97.3%
B61
S$5.14
Bukit Sembawang Estates
7D
6.4%
1Y
45.2%

Bukit Sembawang Estates Limited's (SGX:B61) Shares Not Telling The Full Story

Dec 02
Bukit Sembawang Estates Limited's (SGX:B61) Shares Not Telling The Full Story
U06
S$3.33
Singapore Land Group
7D
2.5%
1Y
76.2%

Singapore Land Group Limited's (SGX:U06) Price Is Out Of Tune With Earnings

Oct 24
Singapore Land Group Limited's (SGX:U06) Price Is Out Of Tune With Earnings
8C8U
S$1.11
Centurion Accommodation REIT
7D
-3.5%
1Y
n/a