Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Singaporean (SGX) Real Estate Sector Analysis

UpdatedOct 24, 2025
DataAggregated Company Financials
Companies88
  • 7D2.1%
  • 3M6.5%
  • 1Y14.1%
  • YTD18.1%

Over the last 7 days, the Real Estate industry has risen 1.4%, driven by gains from CapitaLand Integrated Commercial Trust of 2.5%. In the last 12 months, the industry was up 13%. As for the next few years, earnings are expected to grow by 13% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 25 Oct 2025S$171.1bS$42.6bS$6.2b18.7x27.6x4x
Mon, 22 Sep 2025S$167.5bS$42.5bS$6.0b18x27.7x3.9x
Wed, 20 Aug 2025S$159.4bS$42.4bS$6.0b17.3x26.7x3.8x
Fri, 18 Jul 2025S$156.9bS$45.6bS$4.8b18.3x32.5x3.4x
Sun, 15 Jun 2025S$146.7bS$45.4bS$4.8b17.8x30.6x3.2x
Tue, 13 May 2025S$144.7bS$45.4bS$5.0b16.6x28.7x3.2x
Thu, 10 Apr 2025S$132.7bS$45.4bS$4.7b17.7x28x2.9x
Sat, 08 Mar 2025S$141.5bS$45.5bS$5.1b17.9x27.9x3.1x
Mon, 03 Feb 2025S$143.0bS$48.1bS$3.8b17.6x37.8x3x
Wed, 01 Jan 2025S$143.0bS$47.9bS$3.9b16.2x36.5x3x
Fri, 29 Nov 2024S$145.2bS$47.9bS$3.9b14.6x37.1x3x
Sun, 27 Oct 2024S$148.8bS$47.2bS$3.5b14.2x42.8x3.2x
Tue, 24 Sep 2024S$150.6bS$47.1bS$3.5b13.8x42.5x3.2x
Thu, 22 Aug 2024S$141.4bS$48.6bS$3.7b12.8x37.8x2.9x
Sat, 20 Jul 2024S$140.9bS$47.1bS$4.2b13.2x33.4x3x
Mon, 17 Jun 2024S$136.2bS$47.8bS$3.9b13.3x34.5x2.8x
Wed, 15 May 2024S$139.2bS$47.6bS$3.9b15.9x35.8x2.9x
Fri, 12 Apr 2024S$141.3bS$47.9bS$4.5b15.7x31.3x2.9x
Sun, 10 Mar 2024S$140.8bS$47.7bS$4.5b14.7x31.1x2.9x
Tue, 06 Feb 2024S$145.0bS$46.4bS$5.4b17.5x27.1x3.1x
Thu, 04 Jan 2024S$159.0bS$47.7bS$6.7b15.4x23.8x3.3x
Sat, 02 Dec 2023S$150.8bS$47.8bS$6.7b14.9x22.6x3.2x
Mon, 30 Oct 2023S$142.7bS$47.7bS$8.1b13.5x17.6x3x
Wed, 27 Sep 2023S$153.7bS$47.7bS$8.3b14.8x18.6x3.2x
Fri, 25 Aug 2023S$155.1bS$47.3bS$8.8b15.3x17.6x3.3x
Sun, 23 Jul 2023S$163.9bS$45.4bS$12.4b12.5x13.3x3.6x
Tue, 20 Jun 2023S$164.3bS$45.4bS$12.4b12.5x13.3x3.6x
Thu, 18 May 2023S$166.1bS$45.5bS$12.4b12x13.4x3.6x
Sat, 15 Apr 2023S$171.3bS$45.2bS$12.9b13x13.3x3.8x
Mon, 13 Mar 2023S$164.0bS$45.3bS$12.9b11.1x12.7x3.6x
Wed, 08 Feb 2023S$177.1bS$44.5bS$14.6b10.8x12.1x4x
Fri, 06 Jan 2023S$170.7bS$44.0bS$15.4b9.7x11.1x3.9x
Sun, 04 Dec 2022S$166.7bS$44.1bS$15.5b10.5x10.8x3.8x
Tue, 01 Nov 2022S$156.8bS$44.3bS$15.5b10.1x10.1x3.5x
Price to Earnings Ratio

10.1x


Total Market Cap: S$156.8bTotal Earnings: S$15.5bTotal Revenue: S$44.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Real Estate Sector Price to Earnings3Y Average 25.5x202320242025
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 25.5x.
  • The 3-year average PS ratio of 3.3x is lower than the industry's current PS ratio of 4.0x.
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 Market2.66%
Real Estate2.12%
Office REITs3.02%
Real Estate2.89%
Specialized REITs2.01%
Industrial REITs1.75%
REITS1.38%
Hotel and Resort REITs1.29%
Retail REITs1.07%
Health Care REITs0.91%
Residential REITs0%0
Industry PE
  • Investors are most optimistic about the Real Estate industry even though it's trading below its 3-year average PE ratio of 45.6x.
    • Analysts are expecting annual earnings growth of 18.5%, which is lower than the prior year's growth of 30.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 19% over the next 5 years.
  • However this is lower than its past earnings growth rate of 31% per year.
  • In contrast, the Specialized REITs industry is expected to see its earnings grow 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?

CompanyLast Price7D1YValuation
C09 City DevelopmentsS$7.375.7%
+S$357.4m		41.5%PE33.8x
U14 UOL GroupS$8.265.0%
+S$329.6m		53.2%PE16.1x
U06 Singapore Land GroupS$3.165.3%
+S$229.2m		79.5%PE15.5x
M44U Mapletree Logistics TrustS$1.303.2%
+S$203.8m		-5.1%PB0.9x
9CI CapitaLand InvestmentS$2.671.5%
+S$199.5m		-7.0%PE30.6x

Latest News

U06
S$3.16
Singapore Land Group
7D
5.3%
1Y
79.5%

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
NTDU
US$1.03
NTT DC REIT
7D
-1.0%
1Y
n/a
C38U
S$2.40
CapitaLand Integrated Commercial Trust
7D
0.8%
1Y
18.2%

Analysts Lift CapitaLand Integrated Commercial Trust Target as Valuation Edges Up Amid Equity Offerings

Analysts have slightly raised their price target for CapitaLand Integrated Commercial Trust to $2.47 from $2.45, reflecting their view of modest improvements in fair value and market assumptions. What's in the News Completed a follow-on equity offering totaling SGD 600.0 million, with 284,361,000 new units offered at SGD 2.11 per unit (Key Developments).
M44U
S$1.30
Mapletree Logistics Trust
7D
3.2%
1Y
-5.1%

Analysts Lift Mapletree Logistics Trust Price Target Following Improved Margins and Valuation Adjustments

Analysts have raised their price target for Mapletree Logistics Trust from $1.33 to $1.34, reflecting slightly improved profit margins and adjustments in discount rate assumptions. Valuation Changes Fair Value has increased slightly from SGD 1.325 to SGD 1.34.
9CI
S$2.67
CapitaLand Investment
7D
1.5%
1Y
-7.0%
1F3
S$0.043
Aspen (Group) Holdings
7D
-2.3%
1Y
-6.5%

Aspen (Group) Holdings (SGX:1F3) Is Posting Healthy Earnings, But It Is Not All Good News

Oct 15
Aspen (Group) Holdings (SGX:1F3) Is Posting Healthy Earnings, But It Is Not All Good News
P36
S$0.057
Pan Hong Holdings Group
7D
-6.6%
1Y
-42.4%

Pan Hong Holdings Group Limited (SGX:P36) Looks Inexpensive After Falling 29% But Perhaps Not Attractive Enough

Oct 12
Pan Hong Holdings Group Limited (SGX:P36) Looks Inexpensive After Falling 29% But Perhaps Not Attractive Enough
5UX
S$0.10
Oxley Holdings
7D
-1.0%
1Y
27.5%
A17U
S$2.87
CapitaLand Ascendas REIT
7D
1.1%
1Y
4.4%
U14
S$8.26
UOL Group
7D
5.0%
1Y
53.2%

UOL Group (SGX:U14) Seems To Use Debt Quite Sensibly

Oct 08
UOL Group (SGX:U14) Seems To Use Debt Quite Sensibly
C09
S$7.37
City Developments
7D
5.7%
1Y
41.5%

Is City Developments (SGX:C09) A Risky Investment?

Oct 05
Is City Developments (SGX:C09) A Risky Investment?
T82U
S$1.37
Suntec Real Estate Investment Trust
7D
4.6%
1Y
11.4%
BMGU
S$0.41
BHG Retail REIT
7D
-4.6%
1Y
-9.8%
XZL
US$0.26
Acrophyte Hospitality Trust
7D
-1.9%
1Y
18.6%
5PC
S$0.11
Goodland Group
7D
-2.6%
1Y
-0.9%

Does Goodland Group (SGX:5PC) Have A Healthy Balance Sheet?

Aug 01
Does Goodland Group (SGX:5PC) Have A Healthy Balance Sheet?
S9B
S$0.10
Amcorp Global
7D
-7.3%
1Y
-11.3%

Amcorp Global's (SGX:S9B) Earnings Offer More Than Meets The Eye

Jul 10
Amcorp Global's (SGX:S9B) Earnings Offer More Than Meets The Eye