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Turkish (BIST) Real Estate Sector Analysis
UpdatedOct 02, 2025
DataAggregated Company Financials
Companies55
- 7D-0.5%
- 3M16.1%
- 1Y76.7%
- YTD45.0%
The Real Estate is pretty flat in the last 7 days, but Reysas Gayrimenkul Yatirim Ortakligi has stood out, gaining 11%. The past year has been better, since the industry has gained 77% in that time. As for the next few years, earnings are expected to grow by 3.4% 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 |
|---|---|---|---|---|---|---|
| Fri, 03 Oct 2025 | ₺877.9b | ₺177.2b | ₺84.1b | 15.5x | 10.4x | 5x |
| Sun, 31 Aug 2025 | ₺862.1b | ₺182.0b | ₺86.0b | 11x | 10x | 4.7x |
| Tue, 29 Jul 2025 | ₺851.3b | ₺162.2b | ₺82.1b | 12.4x | 10.4x | 5.2x |
| Thu, 26 Jun 2025 | ₺747.5b | ₺162.4b | ₺85.9b | 9.3x | 8.7x | 4.6x |
| Sat, 24 May 2025 | ₺716.4b | ₺169.8b | ₺89.8b | 9.4x | 8x | 4.2x |
| Mon, 21 Apr 2025 | ₺661.0b | ₺146.3b | ₺81.8b | 11.1x | 8.1x | 4.5x |
| Wed, 19 Mar 2025 | ₺705.0b | ₺147.3b | ₺77.7b | 12.5x | 9.1x | 4.8x |
| Fri, 14 Feb 2025 | ₺613.6b | ₺77.5b | ₺114.0b | 6.1x | 5.4x | 7.9x |
| Sun, 12 Jan 2025 | ₺619.1b | ₺77.4b | ₺114.4b | 6.6x | 5.4x | 8x |
| Tue, 10 Dec 2024 | ₺625.1b | ₺78.6b | ₺114.9b | 5.5x | 5.4x | 8x |
| Thu, 07 Nov 2024 | ₺519.6b | ₺77.7b | ₺107.7b | 4.9x | 4.8x | 6.7x |
| Sat, 05 Oct 2024 | ₺515.9b | ₺73.6b | ₺101.2b | 4.7x | 5.1x | 7x |
| Mon, 02 Sep 2024 | ₺513.8b | ₺82.1b | ₺107.0b | 6.2x | 4.8x | 6.3x |
| Wed, 31 Jul 2024 | ₺543.4b | ₺85.1b | ₺110.4b | 5.7x | 4.9x | 6.4x |
| Fri, 28 Jun 2024 | ₺518.8b | ₺85.4b | ₺112.7b | 5.1x | 4.6x | 6.1x |
| Sun, 26 May 2024 | ₺506.6b | ₺81.2b | ₺106.2b | 5.7x | 4.8x | 6.2x |
| Tue, 23 Apr 2024 | ₺445.1b | ₺68.1b | ₺123.6b | 4.4x | 3.6x | 6.5x |
| Thu, 21 Mar 2024 | ₺452.7b | ₺53.1b | ₺136.1b | 3.8x | 3.3x | 8.5x |
| Sat, 17 Feb 2024 | ₺465.4b | ₺50.1b | ₺145.0b | 3.1x | 3.2x | 9.3x |
| Mon, 15 Jan 2024 | ₺384.6b | ₺49.9b | ₺143.8b | 2.9x | 2.7x | 7.7x |
| Wed, 13 Dec 2023 | ₺361.2b | ₺46.8b | ₺135.7b | 2.7x | 2.7x | 7.7x |
| Fri, 10 Nov 2023 | ₺387.3b | ₺44.5b | ₺132.2b | 2.7x | 2.9x | 8.7x |
| Sun, 08 Oct 2023 | ₺396.7b | ₺44.4b | ₺136.3b | 2.6x | 2.9x | 8.9x |
| Tue, 05 Sep 2023 | ₺344.8b | ₺43.4b | ₺133.3b | 2.4x | 2.6x | 7.9x |
| Thu, 03 Aug 2023 | ₺290.6b | ₺38.2b | ₺126.2b | 2.1x | 2.3x | 7.6x |
| Sat, 01 Jul 2023 | ₺222.7b | ₺38.2b | ₺120.9b | 1.9x | 1.8x | 5.8x |
| Mon, 29 May 2023 | ₺428.4b | ₺33.4b | ₺119.0b | 1.5x | 3.6x | 12.8x |
| Wed, 26 Apr 2023 | ₺191.4b | ₺31.9b | ₺117.5b | 1.6x | 1.6x | 6x |
| Fri, 24 Mar 2023 | ₺128.1b | ₺17.3b | ₺77.9b | 1.8x | 1.6x | 7.4x |
| Sun, 19 Feb 2023 | ₺196.0b | ₺26.5b | ₺70.9b | 2.8x | 2.8x | 7.4x |
| Tue, 17 Jan 2023 | ₺224.4b | ₺26.2b | ₺42.6b | 7.6x | 5.3x | 8.6x |
| Thu, 15 Dec 2022 | ₺235.0b | ₺26.2b | ₺42.6b | 7.3x | 5.5x | 9x |
| Sat, 12 Nov 2022 | ₺183.2b | ₺23.2b | ₺42.5b | 5.4x | 4.3x | 7.9x |
| Mon, 10 Oct 2022 | ₺147.7b | ₺23.8b | ₺35.9b | 5.9x | 4.1x | 6.2x |
Price to Earnings Ratio
4.1x
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 10.3x which is higher than its 3-year average PE of 5.3x.
- The 3-year average PS ratio of 8.3x is higher than the industry's current PS ratio of 4.9x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 33% per year over the last three years.
- Revenues for these companies have grown 95% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Turkish Real Estate sector?
| TR Market | -2.34% | |
| Real Estate | -0.50% | |
| Retail REITs | 9.09% | |
| Industrial REITs | 8.94% | |
| Residential REITs | 0.097% | |
| Hotel and Resort REITs | -0.23% | |
| REITS | -0.90% | |
| Office REITs | -4.12% | |
| Real Estate | -7.28% | |
Industry PE
- Investors are most optimistic about the Retail REITs industry which is trading above its 3-year average PE ratio of 9.2x.
- Analysts are expecting annual earnings growth of 16.0%, which is higher than its past year's earnings decline of 63.9% 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 1.6x.
Forecasted Growth
- Analysts are most optimistic on the Retail REITs industry, expecting annual earnings growth of 16% 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 decline by 4.6% 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 | ₺22.50 | 10.8% +₺4.4b | 100.7% | PB0.7x | |
| RGYAS Ronesans Gayrimenkul Yatirim | ₺154.90 | 9.2% +₺4.3b | 47.4% | PB0.5x | |
| YGGYO Yeni Gimat Gayrimenkul Yatirim Ortakligi | ₺141.00 | 12.2% +₺3.7b | 154.5% | PB2x | |
| EKGYO Emlak Konut Gayrimenkul Yatirim Ortakligi | ₺20.70 | 4.1% +₺3.1b | 109.7% | PB0.7x | |
| TEHOL Pera Yatirim Holding Anonim Sirketi | ₺40.50 | 4.5% +₺1.8b | 2,369.5% | PB10.4x |