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Singaporean (SGX) Real Estate Industry Analysis
UpdatedMay 18, 2025
DataAggregated Company Financials
Companies53
- 7D1.8%
- 3M4.9%
- 1Y9.0%
- YTD3.2%
The Real Estate industry is up 1.8% in the last week, with Hongkong Land Holdings up 3.2%. This means that the industry has gained 9.0% over the past year. Earnings are forecast to grow by 26% annually.
Industry Valuation and Performance
Has the Singaporean Real Estate Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 18 May 2025 | S$56.5b | S$32.6b | S$616.0m | 13.8x | 91.7x | 1.7x |
| Tue, 15 Apr 2025 | S$51.5b | S$32.5b | S$532.2m | 13.6x | 96.7x | 1.6x |
| Thu, 13 Mar 2025 | S$53.9b | S$32.6b | S$521.8m | 14.6x | 103.2x | 1.7x |
| Sat, 08 Feb 2025 | S$54.0b | S$35.2b | S$1.0b | 14.3x | 53.4x | 1.5x |
| Mon, 06 Jan 2025 | S$55.5b | S$35.3b | S$747.2m | 14.4x | 74.3x | 1.6x |
| Wed, 04 Dec 2024 | S$56.3b | S$35.2b | S$725.6m | 14.4x | 77.6x | 1.6x |
| Fri, 01 Nov 2024 | S$56.0b | S$34.5b | S$469.8m | 12.5x | 119.3x | 1.6x |
| Sun, 29 Sep 2024 | S$56.4b | S$34.4b | S$392.3m | 12.6x | 143.7x | 1.6x |
| Tue, 27 Aug 2024 | S$52.5b | S$35.9b | S$538.7m | 10.3x | 97.4x | 1.5x |
| Thu, 25 Jul 2024 | S$51.7b | S$34.5b | S$1.4b | 10.9x | 37.8x | 1.5x |
| Sat, 22 Jun 2024 | S$51.2b | S$35.2b | S$1.4b | 12.2x | 37.2x | 1.5x |
| Mon, 20 May 2024 | S$52.8b | S$34.9b | S$1.3b | 13x | 40.6x | 1.5x |
| Wed, 17 Apr 2024 | S$51.3b | S$35.4b | S$1.5b | 15.3x | 35x | 1.4x |
| Fri, 15 Mar 2024 | S$52.6b | S$35.1b | S$1.5b | 14.2x | 36x | 1.5x |
| Sun, 11 Feb 2024 | S$54.2b | S$33.5b | S$2.3b | 12.8x | 24x | 1.6x |
| Tue, 09 Jan 2024 | S$57.7b | S$34.8b | S$2.2b | 17.4x | 25.8x | 1.7x |
| Thu, 07 Dec 2023 | S$56.8b | S$34.8b | S$2.2b | 16.6x | 25.3x | 1.6x |
| Sat, 04 Nov 2023 | S$57.1b | S$34.7b | S$3.1b | 16.3x | 18.7x | 1.6x |
| Mon, 02 Oct 2023 | S$59.1b | S$34.7b | S$3.1b | 15.6x | 19.3x | 1.7x |
| Wed, 30 Aug 2023 | S$59.0b | S$34.4b | S$3.3b | 17.1x | 17.9x | 1.7x |
| Fri, 28 Jul 2023 | S$63.1b | S$32.8b | S$6.1b | 11.9x | 10.3x | 1.9x |
| Sun, 25 Jun 2023 | S$61.7b | S$32.9b | S$6.1b | 9.7x | 10x | 1.9x |
| Tue, 23 May 2023 | S$64.4b | S$33.0b | S$6.2b | 9.1x | 10.4x | 2x |
| Thu, 20 Apr 2023 | S$67.8b | S$32.8b | S$6.1b | 9.1x | 11.1x | 2.1x |
| Sat, 18 Mar 2023 | S$65.4b | S$32.8b | S$6.1b | 9x | 10.6x | 2x |
| Mon, 13 Feb 2023 | S$70.6b | S$32.5b | S$7.4b | 8.9x | 9.5x | 2.2x |
| Wed, 11 Jan 2023 | S$68.5b | S$32.5b | S$7.5b | 7.7x | 9.1x | 2.1x |
| Fri, 09 Dec 2022 | S$67.8b | S$32.4b | S$7.5b | 8.8x | 9.1x | 2.1x |
| Sun, 06 Nov 2022 | S$63.3b | S$32.5b | S$7.3b | 8.5x | 8.6x | 1.9x |
| Tue, 04 Oct 2022 | S$66.1b | S$32.7b | S$7.4b | 8.6x | 9x | 2x |
| Thu, 01 Sep 2022 | S$71.4b | S$32.8b | S$7.3b | 10x | 9.8x | 2.2x |
| Sat, 30 Jul 2022 | S$73.2b | S$32.4b | S$5.5b | 12.1x | 13.2x | 2.3x |
| Mon, 27 Jun 2022 | S$72.4b | S$32.4b | S$4.4b | 10.9x | 16.5x | 2.2x |
| Wed, 25 May 2022 | S$72.2b | S$32.5b | S$4.5b | 10.1x | 16x | 2.2x |
Price to Earnings Ratio
16x
Current Industry PE
- Investors are optimistic on the Singaporean Real Estate industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 93.9x which is higher than its 3-year average PE of 38.3x.
- The industry is trading close to its 3-year average PS ratio of 1.8x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 49% 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 industry?
| SG Market | 0.50% | |
| Real Estate | 0.47% | |
| Real Estate | 1.77% | |
| Real Estate Development | 2.68% | |
| Real Estate Operating Companies | 2.20% | |
| Real Estate Services | 0.81% | |
| Diversified Real Estate | -0.052% | |
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 11.5%, which is higher than its past year's earnings decline of 25.0% per year.
Forecasted Growth
- Analysts are most optimistic on the Real Estate Operating Companies industry, expecting annual earnings growth of 32% over the next 5 years.
- However this is lower than its past earnings growth rate of 125% per year.
- In contrast, the Real Estate Development industry is expected to see its earnings grow by 12% 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 | |
|---|---|---|---|---|---|
| H78 Hongkong Land Holdings | US$5.18 | 3.2% +US$347.3m | 51.5% | PS5.7x | |
| A26 Sinarmas Land | S$0.38 | 17.2% +S$234.0m | 145.1% | PE6.6x | |
| 9CI CapitaLand Investment | S$2.56 | 1.2% +S$149.6m | -3.8% | PE26.7x | |
| OU8 Centurion | S$1.32 | 6.5% +S$67.3m | 144.4% | PE3.2x | |
| TQ5 Frasers Property | S$0.83 | 1.8% +S$58.9m | 4.4% | PE12.4x |
