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Thai (SET) Real Estate Sector Analysis
UpdatedAug 28, 2026
DataAggregated Company Financials
Companies123
- 7D0.05%
- 3M6.3%
- 1Y18.8%
- YTD16.1%
The Real Estate is pretty flat in the last 7 days, but Amata Corporation has stood out, gaining 6.6%. As for the the longer term, the industry is up 19% over the past 12 months. Earnings are forecast to grow by 6.4% annually.
Sector Valuation and Performance
Has the Thai Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 29 Aug 2026 | ฿1.1t | ฿477.7b | ฿77.9b | 10.1x | 14.2x | 2.3x |
| Mon, 27 Jul 2026 | ฿1.1t | ฿472.3b | ฿76.2b | 10x | 14.3x | 2.3x |
| Wed, 24 Jun 2026 | ฿1.1t | ฿472.3b | ฿76.3b | 9.5x | 13.8x | 2.2x |
| Fri, 22 May 2026 | ฿1.1t | ฿473.4b | ฿77.4b | 9.7x | 13.6x | 2.2x |
| Sun, 19 Apr 2026 | ฿1.0t | ฿470.9b | ฿73.6b | 10.2x | 14.1x | 2.2x |
| Tue, 17 Mar 2026 | ฿1.0t | ฿471.8b | ฿74.8b | 10x | 13.6x | 2.2x |
| Thu, 12 Feb 2026 | ฿1.0t | ฿470.3b | ฿75.1b | 9.6x | 13.7x | 2.2x |
| Sat, 10 Jan 2026 | ฿952.5b | ฿470.2b | ฿75.1b | 9.3x | 12.7x | 2x |
| Mon, 08 Dec 2025 | ฿925.3b | ฿470.4b | ฿75.7b | 9.5x | 12.2x | 2x |
| Wed, 05 Nov 2025 | ฿918.0b | ฿483.1b | ฿76.8b | 9.5x | 11.9x | 1.9x |
| Fri, 03 Oct 2025 | ฿967.3b | ฿483.1b | ฿76.8b | 10x | 12.6x | 2x |
| Sun, 31 Aug 2025 | ฿918.7b | ฿484.1b | ฿76.2b | 10.1x | 12.1x | 1.9x |
| Tue, 29 Jul 2025 | ฿916.4b | ฿496.7b | ฿79.4b | 10.3x | 11.5x | 1.8x |
| Thu, 26 Jun 2025 | ฿846.0b | ฿496.7b | ฿79.3b | 9.7x | 10.7x | 1.7x |
| Sat, 24 May 2025 | ฿913.3b | ฿496.0b | ฿79.8b | 10.6x | 11.4x | 1.8x |
| Mon, 21 Apr 2025 | ฿922.7b | ฿507.9b | ฿77.3b | 10.6x | 11.9x | 1.8x |
| Wed, 19 Mar 2025 | ฿976.3b | ฿507.9b | ฿77.3b | 10.8x | 12.6x | 1.9x |
| Fri, 14 Feb 2025 | ฿1.0t | ฿521.8b | ฿85.8b | 11.4x | 11.7x | 1.9x |
| Sun, 12 Jan 2025 | ฿1.1t | ฿521.6b | ฿85.6b | 11.7x | 12.4x | 2x |
| Tue, 10 Dec 2024 | ฿1.2t | ฿521.7b | ฿85.6b | 12.2x | 13.4x | 2.2x |
| Thu, 07 Nov 2024 | ฿1.2t | ฿519.5b | ฿87.1b | 12x | 13.5x | 2.3x |
| Sat, 05 Oct 2024 | ฿1.2t | ฿519.5b | ฿87.0b | 11.6x | 13.9x | 2.3x |
| Mon, 02 Sep 2024 | ฿1.1t | ฿519.6b | ฿87.0b | 10.7x | 12.9x | 2.2x |
| Wed, 31 Jul 2024 | ฿1.1t | ฿509.8b | ฿84.9b | 11.6x | 12.7x | 2.1x |
| Fri, 28 Jun 2024 | ฿1.1t | ฿509.8b | ฿84.9b | 11x | 12.8x | 2.1x |
| Sun, 26 May 2024 | ฿1.2t | ฿510.0b | ฿85.7b | 12x | 13.6x | 2.3x |
| Tue, 23 Apr 2024 | ฿1.2t | ฿508.1b | ฿85.5b | 12.4x | 13.9x | 2.3x |
| Thu, 21 Mar 2024 | ฿1.2t | ฿508.1b | ฿85.5b | 12.7x | 14.1x | 2.4x |
| Sat, 17 Feb 2024 | ฿1.2t | ฿512.5b | ฿88.5b | 11.5x | 13.8x | 2.4x |
| Mon, 15 Jan 2024 | ฿1.2t | ฿512.3b | ฿88.0b | 11.4x | 14.2x | 2.4x |
| Wed, 13 Dec 2023 | ฿1.2t | ฿512.9b | ฿88.0b | 10.9x | 13.8x | 2.4x |
| Fri, 10 Nov 2023 | ฿1.2t | ฿511.5b | ฿86.8b | 10.9x | 13.8x | 2.3x |
| Sun, 08 Oct 2023 | ฿1.2t | ฿510.7b | ฿85.5b | 11.1x | 14.4x | 2.4x |
| Tue, 05 Sep 2023 | ฿1.3t | ฿510.7b | ฿85.5b | 12x | 15.3x | 2.6x |
Price to Earnings Ratio
15.3x
Current Industry PE
- Investors are optimistic on the Thai Real Estate industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 14.2x which is higher than its 3-year average PE of 12.8x.
- The industry is trading close to its 3-year average PS ratio of 2.1x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 3.1% per year over the last three years,
- Revenues have also declined 2.2% 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 Thai Real Estate sector?
| TH Market | -0.58% | |
| Real Estate | 0.053% | |
| Specialized REITs | 2.00% | |
| Hotel and Resort REITs | 0.70% | |
| Real Estate | 0.39% | |
| Industrial REITs | -0.41% | |
| Residential REITs | -0.58% | |
| REITS | -0.83% | |
| Retail REITs | -1.67% | |
| Office REITs | -2.93% | |
Industry PE
- Investors are most optimistic about the Residential REITs industry which is trading above its 3-year average PE ratio of 5.4x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Hotel and Resort REITs industry, which is trading close to its 3-year average of 10.4x.
Forecasted Growth
- Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 19% over the next 5 years.
- This is better than its past earnings growth rate of 2.2% per year.
- In contrast, the Retail REITs industry is expected to see its earnings growth to stay flat 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 | |
|---|---|---|---|---|---|
| AMATA Amata Corporation | ฿32.50 | 6.6% +฿2.3b | 105.7% | PE7.3x | |
| FPT Frasers Property (Thailand) | ฿7.35 | 4.3% +฿695.8m | 19.5% | PE7.2x | |
| CPNREIT CPN Retail Growth Leasehold REIT | ฿13.40 | 0.8% +฿362.1m | 22.9% | PB1.2x | |
| WHART WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust | ฿11.20 | 0.9% +฿346.9m | 24.4% | PB1.1x | |
| FTREIT Frasers Property Thailand Industrial Freehold & Leasehold REIT | ฿12.70 | 0.8% +฿328.3m | 36.6% | PB1.1x |