There May Be Underlying Issues With The Quality Of Hiap Hoe's (SGX:5JK) Earnings
Apr 20
Have your own idea? Try our Stock Screener
Singaporean (SGX) Real Estate Sector Analysis
UpdatedApr 21, 2026
DataAggregated Company Financials
Companies91
- 7D2.0%
- 3M-3.2%
- 1Y25.6%
- YTD2.1%
In the last week, the Real Estate industry is up 2.0%, with UOL Group up 6.8%. This takes the industry's 12 month performance to a gain of 26%. As for the next few years, earnings are expected to grow by 5.7% per annum.
Sector Valuation and Performance
Has the Singaporean Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 21 Apr 2026 | S$180.5b | S$40.5b | S$9.2b | 16x | 19.6x | 4.5x |
| Thu, 19 Mar 2026 | S$176.9b | S$40.4b | S$8.9b | 15.7x | 19.8x | 4.4x |
| Sat, 14 Feb 2026 | S$185.1b | S$41.5b | S$6.8b | 18.6x | 27.4x | 4.5x |
| Mon, 12 Jan 2026 | S$178.6b | S$41.7b | S$6.3b | 18.9x | 28.2x | 4.3x |
| Wed, 10 Dec 2025 | S$168.6b | S$41.7b | S$6.3b | 17.9x | 26.7x | 4x |
| Fri, 07 Nov 2025 | S$168.4b | S$42.5b | S$6.3b | 18.1x | 26.7x | 4x |
| Sun, 05 Oct 2025 | S$171.3b | S$42.7b | S$6.1b | 18.3x | 28x | 4x |
| Tue, 02 Sep 2025 | S$165.7b | S$42.7b | S$6.1b | 18.1x | 27.3x | 3.9x |
| Thu, 31 Jul 2025 | S$159.7b | S$44.0b | S$5.7b | 21.3x | 27.9x | 3.6x |
| Sat, 28 Jun 2025 | S$150.2b | S$45.4b | S$4.8b | 17.7x | 31.1x | 3.3x |
| Mon, 26 May 2025 | S$144.4b | S$45.3b | S$5.1b | 16.9x | 28.5x | 3.2x |
| Wed, 23 Apr 2025 | S$142.8b | S$45.2b | S$4.7b | 18.8x | 30.1x | 3.2x |
| Fri, 21 Mar 2025 | S$145.8b | S$45.4b | S$4.7b | 19.8x | 30.7x | 3.2x |
| Sun, 16 Feb 2025 | S$142.1b | S$47.8b | S$4.9b | 16.4x | 29.3x | 3x |
| Tue, 14 Jan 2025 | S$142.3b | S$47.9b | S$3.9b | 16.5x | 36.1x | 3x |
| Thu, 12 Dec 2024 | S$143.8b | S$47.9b | S$3.9b | 15.3x | 36.7x | 3x |
| Sat, 09 Nov 2024 | S$145.2b | S$47.1b | S$3.7b | 14.2x | 38.9x | 3.1x |
| Mon, 07 Oct 2024 | S$155.6b | S$47.2b | S$3.6b | 14.2x | 43.1x | 3.3x |
| Wed, 04 Sep 2024 | S$145.5b | S$47.1b | S$3.6b | 12.9x | 40.4x | 3.1x |
| Fri, 02 Aug 2024 | S$141.9b | S$47.2b | S$4.2b | 14x | 33.7x | 3x |
| Sun, 30 Jun 2024 | S$135.7b | S$47.8b | S$3.9b | 13.2x | 34.4x | 2.8x |
| Tue, 28 May 2024 | S$139.1b | S$47.7b | S$3.9b | 14x | 35.4x | 2.9x |
| Thu, 25 Apr 2024 | S$139.1b | S$48.0b | S$4.5b | 14.5x | 31x | 2.9x |
| Sat, 23 Mar 2024 | S$140.8b | S$47.8b | S$4.5b | 14.9x | 31.2x | 2.9x |
| Mon, 19 Feb 2024 | S$146.1b | S$46.0b | S$5.5b | 16.6x | 26.6x | 3.2x |
| Wed, 17 Jan 2024 | S$157.2b | S$47.7b | S$6.7b | 15.3x | 23.6x | 3.3x |
| Fri, 15 Dec 2023 | S$152.8b | S$47.7b | S$6.7b | 15.6x | 22.9x | 3.2x |
| Sun, 12 Nov 2023 | S$146.1b | S$48.0b | S$7.4b | 14x | 19.6x | 3x |
| Tue, 10 Oct 2023 | S$149.5b | S$47.7b | S$8.2b | 14.1x | 18.1x | 3.1x |
| Thu, 07 Sep 2023 | S$156.4b | S$47.5b | S$8.2b | 15.3x | 19x | 3.3x |
| Sat, 05 Aug 2023 | S$160.9b | S$45.5b | S$11.3b | 14.1x | 14.3x | 3.5x |
| Mon, 03 Jul 2023 | S$161.4b | S$45.4b | S$12.4b | 12.5x | 13x | 3.6x |
| Wed, 31 May 2023 | S$163.1b | S$45.5b | S$12.4b | 12.6x | 13.2x | 3.6x |
| Fri, 28 Apr 2023 | S$169.1b | S$45.2b | S$12.9b | 12.9x | 13.1x | 3.7x |
Price to Earnings Ratio
13.1x
Current Industry PE
- Investors are pessimistic on the Singaporean 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 19.6x which is lower than its 3-year average PE of 27.7x.
- The 3-year average PS ratio of 3.4x is lower than the industry's current PS ratio of 4.5x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 11% per year over the last three years,
- Revenues have also declined 3.6% 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 Singaporean Real Estate sector?
| SG Market | 0.63% | |
| Real Estate | 2.03% | |
| Real Estate | 2.68% | |
| Industrial REITs | 2.53% | |
| Specialized REITs | 2.19% | |
| Retail REITs | 1.33% | |
| REITS | 1.12% | |
| Health Care REITs | 0.97% | |
| Office REITs | 0.38% | |
| Hotel and Resort REITs | 0.11% | |
| Residential REITs | 0% | 0 |
Industry PE
- Investors are most optimistic about the Retail REITs industry, which is trading close to its 3-year average PE ratio of 19.5x.
- Analysts are expecting annual earnings growth of 10.8%, which is lower than the prior year's growth of 12.8% per year.
- Investors are most pessimistic about the Specialized REITs industry, which is trading below its 3-year average of 83.1x.
Forecasted Growth
- Analysts are most optimistic on the Retail REITs industry, expecting annual earnings growth of 11% 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 decline by 3.9% 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 | |
|---|---|---|---|---|---|
| C38U CapitaLand Integrated Commercial Trust | S$2.47 | 3.8% +S$686.3m | 16.5% | PB1.2x | |
| TQ5 Frasers Property | S$1.17 | 14.7% +S$588.9m | 50.0% | PE20x | |
| U14 UOL Group | S$10.76 | 5.2% +S$448.8m | 87.5% | PE18.9x | |
| C09 City Developments | S$8.82 | 4.6% +S$348.4m | 82.2% | PE12.7x | |
| A17U CapitaLand Ascendas REIT | S$2.56 | 0% S$330.6m | -3.0% | PB1.2x |
