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Turkish (BIST) Real Estate Sector Analysis
UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies58
- 7D-0.1%
- 3M10.1%
- 1Y62.2%
- YTD7.3%
Over the last 7 days, the Real Estate industry has dropped 3.1%, driven by Emlak Konut Gayrimenkul Yatirim Ortakligi declining 3.4%. In contrast, Reysas Gayrimenkul Yatirim Ortakligi has gained 11%. This takes the industry's 12 month performance to a gain of 66%. Earnings are forecast to grow by 29% annually.
Sector Valuation and Performance
Has the Turkish Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 27 Feb 2026 | ₺1.1t | ₺184.5b | ₺84.7b | 14.4x | 12.5x | 5.7x |
| Sun, 25 Jan 2026 | ₺965.7b | ₺183.5b | ₺79.9b | 16x | 12.1x | 5.3x |
| Tue, 23 Dec 2025 | ₺877.0b | ₺182.1b | ₺79.8b | 17.2x | 11x | 4.8x |
| Thu, 20 Nov 2025 | ₺890.1b | ₺186.1b | ₺83.7b | 15.5x | 10.6x | 4.8x |
| Sat, 18 Oct 2025 | ₺852.1b | ₺177.2b | ₺84.1b | 14.7x | 10.1x | 4.8x |
| Mon, 15 Sep 2025 | ₺832.8b | ₺178.0b | ₺83.3b | 14.3x | 10x | 4.7x |
| Wed, 13 Aug 2025 | ₺894.1b | ₺161.7b | ₺80.2b | 11.2x | 11.1x | 5.5x |
| Fri, 11 Jul 2025 | ₺801.1b | ₺162.5b | ₺86.2b | 10.5x | 9.3x | 4.9x |
| Sun, 08 Jun 2025 | ₺717.2b | ₺162.4b | ₺85.0b | 9.6x | 8.4x | 4.4x |
| Tue, 06 May 2025 | ₺682.2b | ₺146.7b | ₺80.9b | 11.5x | 8.4x | 4.7x |
| Thu, 03 Apr 2025 | ₺660.4b | ₺146.3b | ₺81.8b | 11.1x | 8.1x | 4.5x |
| Sat, 01 Mar 2025 | ₺635.2b | ₺86.3b | ₺95.6b | 7.9x | 6.6x | 7.4x |
| Mon, 27 Jan 2025 | ₺638.2b | ₺77.5b | ₺114.1b | 6.7x | 5.6x | 8.2x |
| Wed, 25 Dec 2024 | ₺611.8b | ₺78.6b | ₺114.6b | 6.4x | 5.3x | 7.8x |
| Fri, 22 Nov 2024 | ₺574.0b | ₺80.7b | ₺117.3b | 6.1x | 4.9x | 7.1x |
| Sun, 20 Oct 2024 | ₺494.6b | ₺72.7b | ₺96.9b | 4.9x | 5.1x | 6.8x |
| Tue, 17 Sep 2024 | ₺530.8b | ₺79.4b | ₺105.4b | 5.9x | 5x | 6.7x |
| Thu, 15 Aug 2024 | ₺507.6b | ₺85.1b | ₺109.9b | 5.4x | 4.6x | 6x |
| Sat, 13 Jul 2024 | ₺546.2b | ₺85.1b | ₺110.4b | 5.8x | 4.9x | 6.4x |
| Mon, 10 Jun 2024 | ₺496.5b | ₺84.9b | ₺107.1b | 5.5x | 4.6x | 5.8x |
| Wed, 08 May 2024 | ₺508.1b | ₺75.8b | ₺121.2b | 4.4x | 4.2x | 6.7x |
| Fri, 05 Apr 2024 | ₺408.5b | ₺53.7b | ₺138.5b | 3.8x | 2.9x | 7.6x |
| Sun, 03 Mar 2024 | ₺477.1b | ₺51.5b | ₺132.1b | 3.8x | 3.6x | 9.3x |
| Tue, 30 Jan 2024 | ₺432.1b | ₺49.9b | ₺143.8b | 3.6x | 3x | 8.7x |
| Thu, 28 Dec 2023 | ₺335.2b | ₺49.9b | ₺143.8b | 2.6x | 2.3x | 6.7x |
| Sat, 25 Nov 2023 | ₺385.0b | ₺47.5b | ₺135.2b | 3.1x | 2.8x | 8.1x |
| Mon, 23 Oct 2023 | ₺349.6b | ₺44.5b | ₺137.7b | 2.4x | 2.5x | 7.9x |
| Wed, 20 Sep 2023 | ₺343.0b | ₺43.7b | ₺135.1b | 2.5x | 2.5x | 7.9x |
| Fri, 18 Aug 2023 | ₺522.8b | ₺43.1b | ₺127.2b | 2.1x | 4.1x | 12.1x |
| Sun, 16 Jul 2023 | ₺255.9b | ₺38.2b | ₺120.9b | 2.1x | 2.1x | 6.7x |
| Tue, 13 Jun 2023 | ₺218.6b | ₺33.4b | ₺119.1b | 1.8x | 1.8x | 6.5x |
| Thu, 11 May 2023 | ₺165.5b | ₺33.2b | ₺117.1b | 1.3x | 1.4x | 5x |
| Sat, 08 Apr 2023 | ₺200.4b | ₺31.9b | ₺117.5b | 1.6x | 1.7x | 6.3x |
| Mon, 06 Mar 2023 | ₺213.6b | ₺27.2b | ₺94.8b | 2.1x | 2.3x | 7.9x |
Price to Earnings Ratio
2.3x
Current Industry PE
- Investors are optimistic on the Turkish Real Estate industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 12.9x which is higher than its 3-year average PE of 6.0x.
- The 3-year average PS ratio of 7.5x is higher than the industry's current PS ratio of 5.7x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 3.9% per year over the last three years.
- Meanwhile revenues for these companies have grown 90% per year.
- This means that although more sales are being generated, 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 Turkish Real Estate sector?
| TR Market | 0.61% | |
| Real Estate | -0.14% | |
| Industrial REITs | 11.20% | |
| Real Estate | 1.88% | |
| Office REITs | 1.52% | |
| Specialized REITs | 0% | 0 |
| REITS | -0.64% | |
| Residential REITs | -3.55% | |
| Hotel and Resort REITs | -4.02% | |
| Retail REITs | -4.48% | |
Industry PE
- Investors are most optimistic about the Retail REITs industry which is trading above its 3-year average PE ratio of 15.8x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Industrial REITs industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 1.8x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 68% over the next 5 years.
- This is better than its past earnings decline of 64% per year.
- In contrast, the Residential REITs industry is expected to see its earnings grow by 5.7% 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 | |
|---|---|---|---|---|---|
| RYGYO Reysas Gayrimenkul Yatirim Ortakligi | ₺31.76 | 11.2% +₺6.4b | 108.3% | PB0.9x | |
| LYDHO Lydia Holding | ₺205.60 | 8.6% +₺5.7b | 90.0% | PE8967.6x | |
| PEKGY Peker Gayrimenkul Yatirim Ortakligi Anonim Sirketi | ₺13.00 | 7.9% +₺4.8b | 749.7% | PB9.6x | |
| KUYAS Kuyas Yatirim | ₺77.75 | 11.5% +₺3.0b | 225.0% | PE203.5x | |
| FZLGY Fuzul Gayrimenkul Yatirim Ortakligi Anonim Sirketi | ₺13.00 | 7.9% +₺1.2b | 62.2% | PB3.6x |