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Thai (SET) Real Estate Sector Analysis
UpdatedJan 12, 2026
DataAggregated Company Financials
Companies124
- 7D0.2%
- 3M-1.5%
- 1Y-10.9%
- YTD-0.2%
Over the last 7 days, the Real Estate industry has remained flat, although notably Supalai gained 4.1%. As for the longer term, the industry has declined 11% in the last year. Looking forward, earnings are forecast to grow by 7.1% 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 |
|---|---|---|---|---|---|---|
| Mon, 12 Jan 2026 | ฿952.5b | ฿470.2b | ฿75.1b | 9.3x | 12.7x | 2x |
| Wed, 10 Dec 2025 | ฿923.5b | ฿470.4b | ฿75.7b | 9.5x | 12.2x | 2x |
| Fri, 07 Nov 2025 | ฿925.7b | ฿484.0b | ฿77.1b | 9.5x | 12x | 1.9x |
| Sun, 05 Oct 2025 | ฿960.4b | ฿483.1b | ฿76.8b | 9.9x | 12.5x | 2x |
| Tue, 02 Sep 2025 | ฿928.7b | ฿482.5b | ฿75.7b | 10.1x | 12.3x | 1.9x |
| Thu, 31 Jul 2025 | ฿936.5b | ฿496.7b | ฿79.4b | 10.7x | 11.8x | 1.9x |
| Sat, 28 Jun 2025 | ฿841.1b | ฿496.7b | ฿79.3b | 10.2x | 10.6x | 1.7x |
| Mon, 26 May 2025 | ฿913.3b | ฿496.4b | ฿79.8b | 10.6x | 11.4x | 1.8x |
| Wed, 23 Apr 2025 | ฿924.3b | ฿509.1b | ฿77.4b | 10.7x | 11.9x | 1.8x |
| Fri, 21 Mar 2025 | ฿989.3b | ฿507.9b | ฿77.3b | 11x | 12.8x | 1.9x |
| Sun, 16 Feb 2025 | ฿990.8b | ฿522.8b | ฿87.0b | 11.4x | 11.4x | 1.9x |
| Tue, 14 Jan 2025 | ฿1.1t | ฿521.6b | ฿85.6b | 11.8x | 12.3x | 2x |
| Thu, 12 Dec 2024 | ฿1.1t | ฿521.7b | ฿85.7b | 12x | 13.4x | 2.2x |
| Sat, 09 Nov 2024 | ฿1.2t | ฿519.5b | ฿87.1b | 11.5x | 13.4x | 2.3x |
| Mon, 07 Oct 2024 | ฿1.2t | ฿519.5b | ฿87.0b | 11.6x | 13.9x | 2.3x |
| Wed, 04 Sep 2024 | ฿1.1t | ฿519.6b | ฿87.0b | 10.8x | 12.9x | 2.2x |
| Fri, 02 Aug 2024 | ฿1.1t | ฿509.8b | ฿84.9b | 11.5x | 12.9x | 2.1x |
| Sun, 30 Jun 2024 | ฿1.1t | ฿509.8b | ฿84.9b | 11.3x | 12.7x | 2.1x |
| Tue, 28 May 2024 | ฿1.2t | ฿510.2b | ฿85.7b | 12x | 13.6x | 2.3x |
| Thu, 25 Apr 2024 | ฿1.2t | ฿508.1b | ฿85.5b | 12.4x | 13.9x | 2.3x |
| Sat, 23 Mar 2024 | ฿1.2t | ฿508.1b | ฿85.5b | 12.7x | 14.1x | 2.4x |
| Mon, 19 Feb 2024 | ฿1.2t | ฿510.5b | ฿88.5b | 11.5x | 13.8x | 2.4x |
| Wed, 17 Jan 2024 | ฿1.2t | ฿512.3b | ฿89.3b | 11.4x | 13.9x | 2.4x |
| Fri, 15 Dec 2023 | ฿1.2t | ฿512.9b | ฿88.0b | 11x | 13.8x | 2.4x |
| Sun, 12 Nov 2023 | ฿1.2t | ฿513.3b | ฿86.3b | 10.9x | 13.9x | 2.3x |
| Tue, 10 Oct 2023 | ฿1.2t | ฿510.7b | ฿85.5b | 11.1x | 14.3x | 2.4x |
| Thu, 07 Sep 2023 | ฿1.3t | ฿510.7b | ฿85.5b | 11.7x | 15.3x | 2.6x |
| Sat, 05 Aug 2023 | ฿1.3t | ฿509.5b | ฿86.2b | 12.4x | 15x | 2.5x |
| Mon, 03 Jul 2023 | ฿1.3t | ฿509.3b | ฿86.6b | 12.2x | 14.8x | 2.5x |
| Wed, 31 May 2023 | ฿1.3t | ฿506.1b | ฿86.7b | 12.5x | 15.2x | 2.6x |
| Fri, 28 Apr 2023 | ฿1.4t | ฿495.9b | ฿83.0b | 12.9x | 16.3x | 2.7x |
| Sun, 26 Mar 2023 | ฿1.1t | ฿461.5b | ฿65.4b | 13.5x | 16.1x | 2.3x |
| Tue, 21 Feb 2023 | ฿1.4t | ฿468.1b | ฿76.8b | 13x | 18.5x | 3x |
| Thu, 19 Jan 2023 | ฿1.4t | ฿466.8b | ฿71.2b | 13x | 19.5x | 3x |
Price to Earnings Ratio
19.5x
Current Industry PE
- Investors are relatively neutral on the Thai 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 13.4x.
- The industry is trading close to its 3-year average PS ratio of 2.2x.
Past Earnings Growth
- Both revenue and earnings for companies in the Real Estate industry have remained mostly flat over the last three years.
- This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.
Industry Trends
Which industries have driven the changes within the Thai Real Estate sector?
| TH Market | -0.47% | |
| Real Estate | 0.18% | |
| Hotel and Resort REITs | 1.19% | |
| Office REITs | 0.48% | |
| REITS | 0.47% | |
| Real Estate | 0.37% | |
| Retail REITs | -0.095% | |
| Specialized REITs | -0.31% | |
| Industrial REITs | -0.98% | |
| Residential REITs | -1.13% | |
Industry PE
- Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 14.2x.
- Analysts are expecting annual earnings growth of 9.4%, which is higher than its past year's earnings decline of 8.4% per year.
- Investors are most pessimistic about the Hotel and Resort REITs industry, which is trading below its 3-year average of 11.0x.
Forecasted Growth
- Analysts are most optimistic on the Retail REITs industry, expecting annual earnings growth of 16% over the next 5 years.
- However this is lower than its past earnings growth rate of 41% per year.
- In contrast, the Hotel and Resort 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 | |
|---|---|---|---|---|---|
| TITLE Rhom Bho Property | ฿6.15 | 11.8% +฿508.3m | 56.1% | PE13.3x | |
| FPT Frasers Property (Thailand) | ฿6.05 | 1.7% +฿231.9m | -41.3% | PE9.6x | |
| SA Siamese Asset | ฿7.25 | 2.1% +฿179.8m | -2.7% | PE55.3x | |
| ESTAR Eastern Star Real Estate | ฿0.22 | 10.0% +฿100.4m | 10.0% | PE19.8x | |
| PIN Pinthong Industrial Park | ฿4.32 | 1.9% +฿92.8m | -28.6% | PE7.5x |