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Turkish (BIST) Real Estate Sector Analysis
UpdatedJul 14, 2026
DataAggregated Company Financials
Companies61
- 7D-1.6%
- 3M0.8%
- 1Y35.7%
- YTD12.2%
Over the last 7 days, the Real Estate industry has dropped 1.3%, driven by a pullback from Savur Gayrimenkul Yatirim Ortakligi of 41%. Meanwhile, UFUK Yatirim Yonetim ve Gayrimenkul actually outperformed within the industry, gaining 6.6% in the last week. This takes the industry's 12 month performance to a gain of 36%. As for the next few years, earnings are expected to grow by 46% per annum.
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 |
|---|---|---|---|---|---|---|
| Tue, 14 Jul 2026 | ₺1.2t | ₺226.1b | ₺94.9b | 10.7x | 12.8x | 5.4x |
| Thu, 11 Jun 2026 | ₺1.2t | ₺225.2b | ₺96.3b | 11.8x | 12.2x | 5.2x |
| Sat, 09 May 2026 | ₺1.3t | ₺228.6b | ₺103.8b | 13.6x | 12.2x | 5.5x |
| Mon, 06 Apr 2026 | ₺1.1t | ₺223.6b | ₺102.5b | 11.4x | 10.8x | 5x |
| Wed, 04 Mar 2026 | ₺1.0t | ₺190.1b | ₺96.3b | 14.3x | 10.4x | 5.3x |
| Fri, 30 Jan 2026 | ₺973.7b | ₺183.5b | ₺79.9b | 16.4x | 12.2x | 5.3x |
| Sun, 28 Dec 2025 | ₺887.7b | ₺182.3b | ₺79.5b | 16.1x | 11.2x | 4.9x |
| Tue, 25 Nov 2025 | ₺892.1b | ₺184.6b | ₺83.1b | 14.8x | 10.7x | 4.8x |
| Thu, 23 Oct 2025 | ₺857.4b | ₺177.2b | ₺84.1b | 14.4x | 10.2x | 4.8x |
| Sat, 20 Sep 2025 | ₺872.3b | ₺177.2b | ₺83.2b | 15.3x | 10.5x | 4.9x |
| Mon, 18 Aug 2025 | ₺901.6b | ₺724.1b | ₺2.1t | 10.8x | 0.4x | 1.2x |
| Wed, 16 Jul 2025 | ₺802.1b | ₺162.5b | ₺86.2b | 10.1x | 9.3x | 4.9x |
| Fri, 13 Jun 2025 | ₺732.5b | ₺162.4b | ₺85.9b | 9.6x | 8.5x | 4.5x |
| Sun, 11 May 2025 | ₺702.9b | ₺146.2b | ₺80.9b | 10.8x | 8.7x | 4.8x |
| Tue, 08 Apr 2025 | ₺663.3b | ₺146.3b | ₺81.8b | 11.4x | 8.1x | 4.5x |
| Thu, 06 Mar 2025 | ₺657.2b | ₺96.9b | ₺83.3b | 11.2x | 7.9x | 6.8x |
| Sat, 01 Feb 2025 | ₺625.1b | ₺77.5b | ₺114.1b | 6.4x | 5.5x | 8.1x |
| Mon, 30 Dec 2024 | ₺624.9b | ₺77.4b | ₺114.4b | 6.6x | 5.5x | 8.1x |
| Wed, 27 Nov 2024 | ₺589.2b | ₺78.5b | ₺114.6b | 5.5x | 5.1x | 7.5x |
| Fri, 25 Oct 2024 | ₺505.7b | ₺73.7b | ₺101.8b | 4.7x | 5x | 6.9x |
| Sun, 22 Sep 2024 | ₺562.3b | ₺76.9b | ₺107.8b | 4.9x | 5.2x | 7.3x |
| Tue, 20 Aug 2024 | ₺522.9b | ₺85.5b | ₺106.4b | 5.4x | 4.9x | 6.1x |
| Thu, 18 Jul 2024 | ₺560.6b | ₺85.1b | ₺110.4b | 5.9x | 5.1x | 6.6x |
| Sat, 15 Jun 2024 | ₺503.1b | ₺87.4b | ₺107.6b | 5.7x | 4.7x | 5.8x |
| Mon, 13 May 2024 | ₺510.4b | ₺78.5b | ₺109.8b | 5x | 4.6x | 6.5x |
| Wed, 10 Apr 2024 | ₺447.5b | ₺54.9b | ₺134.9b | 4.4x | 3.3x | 8.2x |
| Fri, 08 Mar 2024 | ₺474.8b | ₺51.5b | ₺132.1b | 3.7x | 3.6x | 9.2x |
| Sun, 04 Feb 2024 | ₺441.8b | ₺50.0b | ₺144.1b | 3.5x | 3.1x | 8.8x |
| Tue, 02 Jan 2024 | ₺15.2t | ₺49.9b | ₺143.8b | 3.1x | 105.8x | 304.7x |
| Thu, 30 Nov 2023 | ₺375.5b | ₺47.5b | ₺135.2b | 2.8x | 2.8x | 7.9x |
| Sat, 28 Oct 2023 | ₺367.3b | ₺44.5b | ₺137.6b | 2.6x | 2.7x | 8.3x |
| Mon, 25 Sep 2023 | ₺360.0b | ₺44.4b | ₺136.3b | 2.5x | 2.6x | 8.1x |
| Wed, 23 Aug 2023 | ₺337.2b | ₺43.9b | ₺128.7b | 2.2x | 2.6x | 7.7x |
| Fri, 21 Jul 2023 | ₺272.0b | ₺38.2b | ₺120.9b | 2.2x | 2.2x | 7.1x |
Price to Earnings Ratio
2.2x
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 7.2x.
- The 3-year average PS ratio of 7.3x is higher than the industry's current PS ratio of 5.4x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 7.8% per year over the last three years.
- Meanwhile revenues for these companies have grown 81% 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 | -2.48% | |
| Real Estate | -1.63% | |
| Real Estate | 1.11% | |
| Office REITs | 1.08% | |
| Residential REITs | 0.17% | |
| Specialized REITs | 0% | 0 |
| Retail REITs | -1.82% | |
| Hotel and Resort REITs | -2.79% | |
| Industrial REITs | -2.84% | |
| REITS | -4.00% | |
Industry PE
- Investors are most optimistic about the Residential REITs industry which is trading above its 3-year average PE ratio of 14.5x.
- Analysts are expecting annual earnings growth of 84.0%, which is higher than its past year's earnings decline of 85.8% per year.
- 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 2.1x.
Forecasted Growth
- Analysts are most optimistic on the Residential REITs industry, expecting annual earnings growth of 84% over the next 5 years.
- This is better than its past earnings decline of 86% per year.
- In contrast, the Real Estate industry is expected to see its earnings decline by 5.1% 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 | |
|---|---|---|---|---|---|
| UFUK UFUK Yatirim Yonetim ve Gayrimenkul | ₺1.70k | 6.6% +₺4.9b | 53.4% | PE152.2x | |
| TEHOL Tera Yatirim Teknoloji Holding | ₺41.00 | 5.1% +₺4.0b | 173.2% | PE22.2x | |
| TRGYO Torunlar Gayrimenkul Yatirim Ortakligi | ₺100.80 | 2.3% +₺2.3b | 47.2% | PB0.7x | |
| PEKGY Peker Gayrimenkul Yatirim Ortakligi Anonim Sirketi | ₺14.74 | 3.1% +₺2.3b | 633.3% | PB10.9x | |
| DGGYO Dogus Gayrimenkul Yatirim Ortakligi | ₺40.76 | 12.3% +₺1.5b | 19.7% | PB0.9x |