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Singaporean (SGX) Real Estate Industry Analysis

UpdatedDec 07, 2025
DataAggregated Company Financials
Companies52
  • 7D2.0%
  • 3M2.1%
  • 1Y26.4%
  • YTD30.2%

In the last week, the Real Estate industry is up 2.0%, with Hongkong Land Holdings up 5.2%. In the last 12 months, the industry was up 26%. As for the next few years, earnings are expected to grow by 20% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 07 Dec 2025S$70.0bS$28.9bS$1.9b17.6x37.1x2.4x
Tue, 04 Nov 2025S$68.8bS$29.9bS$1.9b18.1x35.6x2.3x
Thu, 02 Oct 2025S$68.6bS$29.8bS$1.9b15.8x35.4x2.3x
Sat, 30 Aug 2025S$67.7bS$29.8bS$1.9b16.5x36x2.3x
Mon, 28 Jul 2025S$65.5bS$31.4bS$457.7m16.4x143x2.1x
Wed, 25 Jun 2025S$58.2bS$32.9bS$695.4m14.3x83.7x1.8x
Fri, 23 May 2025S$56.5bS$32.5bS$615.5m14.1x91.7x1.7x
Sun, 20 Apr 2025S$53.0bS$32.5bS$523.1m13.5x101.3x1.6x
Tue, 18 Mar 2025S$54.6bS$32.6bS$522.0m14.9x104.7x1.7x
Thu, 13 Feb 2025S$53.6bS$35.1bS$1.0b14.4x53.1x1.5x
Sat, 11 Jan 2025S$53.8bS$35.2bS$749.0m14.2x71.8x1.5x
Mon, 09 Dec 2024S$56.7bS$35.2bS$725.4m14.4x78.2x1.6x
Wed, 06 Nov 2024S$58.1bS$34.5bS$468.5m12.5x124x1.7x
Fri, 04 Oct 2024S$57.2bS$34.5bS$459.3m12.2x124.5x1.7x
Sun, 01 Sep 2024S$52.8bS$34.5bS$481.4m9.7x109.7x1.5x
Tue, 30 Jul 2024S$51.7bS$34.5bS$1.4b11.9x37.8x1.5x
Thu, 27 Jun 2024S$51.0bS$35.2bS$1.4b11.9x37.1x1.4x
Sat, 25 May 2024S$52.4bS$34.9bS$1.3b13x40.1x1.5x
Mon, 22 Apr 2024S$49.9bS$35.4bS$1.5b14.7x34.1x1.4x
Wed, 20 Mar 2024S$51.9bS$35.2bS$1.5b13.9x35.6x1.5x
Fri, 16 Feb 2024S$53.9bS$33.6bS$2.3b11.7x23.7x1.6x
Sun, 14 Jan 2024S$57.4bS$34.7bS$2.2b16.1x25.8x1.7x
Tue, 12 Dec 2023S$56.4bS$34.8bS$2.2b16.6x25.1x1.6x
Thu, 09 Nov 2023S$56.8bS$34.7bS$3.1b16.1x18.6x1.6x
Sat, 07 Oct 2023S$58.6bS$34.7bS$3.1b16.6x19.2x1.7x
Mon, 04 Sep 2023S$59.9bS$34.6bS$3.0b16x19.7x1.7x
Wed, 02 Aug 2023S$63.4bS$32.6bS$5.4b12.7x11.7x1.9x
Fri, 30 Jun 2023S$62.1bS$32.9bS$6.2b9.9x10.1x1.9x
Sun, 28 May 2023S$64.4bS$33.0bS$6.1b9.1x10.5x2x
Tue, 25 Apr 2023S$68.0bS$32.8bS$6.1b9.1x11.1x2.1x
Thu, 23 Mar 2023S$65.4bS$32.8bS$6.1b8.9x10.6x2x
Sat, 18 Feb 2023S$69.5bS$32.5bS$7.5b8.9x9.3x2.1x
Mon, 16 Jan 2023S$69.3bS$32.5bS$7.5b7.7x9.3x2.1x
Wed, 14 Dec 2022S$68.2bS$32.4bS$7.5b8.9x9.1x2.1x
Price to Earnings Ratio

9.1x


Total Market Cap: S$68.2bTotal Earnings: S$7.5bTotal Revenue: S$32.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Real Estate Industry Price to Earnings3Y Average 46.7x202320242025
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 37.1x which is lower than its 3-year average PE of 46.7x.
  • The 3-year average PS ratio of 1.8x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 37% per year over the last three years,
  • Revenues have also declined 3.7% 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 industry?

SG Market0.042%
Real Estate0.21%
Real Estate1.95%
Diversified Real Estate2.27%
Real Estate Operating Companies2.04%
Real Estate Development1.95%
Real Estate Services-3.02%
Industry PE
  • Investors are most optimistic about the Real Estate Development industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 16.9%, which is lower than the prior year's growth of 30.1% per year.
  • Investors are most pessimistic about the Diversified Real Estate industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 14.3x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate Operating Companies industry, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings decline of 21% per year.
  • In contrast, the Real Estate Services industry is expected to see its earnings grow by 7.6% 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$6.685.2%
+US$710.9m		41.2%PS8.1x
TQ5 Frasers PropertyS$1.105.8%
+S$235.6m		18.3%PE18.8x
U14 UOL GroupS$8.632.5%
+S$177.6m		60.7%PE16.8x
U06 Singapore Land GroupS$3.153.3%
+S$143.4m		79.0%PE15.5x
B61 Bukit Sembawang EstatesS$4.6611.8%
+S$126.9m		29.1%PE12.2x

Latest News

BDX
S$0.20
GSH
7D
-7.4%
1Y
44.2%
B61
S$4.66
Bukit Sembawang Estates
7D
11.8%
1Y
29.1%

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
U14
S$8.63
UOL Group
7D
2.5%
1Y
60.7%

UOL Group Limited's (SGX:U14) Business Is Yet to Catch Up With Its Share Price

Dec 01
UOL Group Limited's (SGX:U14) Business Is Yet to Catch Up With Its Share Price
C09
S$7.28
City Developments
7D
0.7%
1Y
37.6%

C09: Improved Margins And Lower Discount Rate Will Sustain Bullish Outlook

Analysts have raised the fair value estimate for City Developments from $7.69 to $8.08, citing improvements in profit margin and a lower discount rate as key factors in their revised outlook. Valuation Changes The Fair Value Estimate has increased from SGD 7.69 to SGD 8.08, reflecting an improved outlook.
SHE
S$0.63
Soon Hock Enterprise Holding
7D
6.8%
1Y
n/a
9CI
S$2.61
CapitaLand Investment
7D
-1.5%
1Y
-4.0%
TQ5
S$1.10
Frasers Property
7D
5.8%
1Y
18.3%
H78
US$6.68
Hongkong Land Holdings
7D
5.2%
1Y
41.2%
OYY
S$1.92
PropNex
7D
-4.0%
1Y
109.8%

Is There An Opportunity With PropNex Limited's (SGX:OYY) 31% Undervaluation?

Oct 29
Is There An Opportunity With PropNex Limited's (SGX:OYY) 31% Undervaluation?
H13
S$2.14
Ho Bee Land
7D
-0.9%
1Y
12.0%

Here's Why Ho Bee Land (SGX:H13) Has A Meaningful Debt Burden

Oct 25
Here's Why Ho Bee Land (SGX:H13) Has A Meaningful Debt Burden
U06
S$3.15
Singapore Land Group
7D
3.3%
1Y
79.0%

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
OU8
S$1.32
Centurion
7D
-2.9%
1Y
32.7%
5UX
S$0.089
Oxley Holdings
7D
-2.2%
1Y
20.3%
C33
S$0.21
Chuan Hup Holdings
7D
-4.4%
1Y
36.1%
F1E
S$0.73
Low Keng Huat (Singapore)
7D
18.7%
1Y
139.3%
ADN
S$1.01
First Sponsor Group
7D
-1.9%
1Y
-2.9%

Is First Sponsor Group (SGX:ADN) Using Too Much Debt?

Aug 25
Is First Sponsor Group (SGX:ADN) Using Too Much Debt?