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South African (JSE) Real Estate Sector Analysis

UpdatedMar 26, 2026
DataAggregated Company Financials
Companies34
  • 7D1.4%
  • 3M-1.5%
  • 1Y21.3%
  • YTD-2.4%

The Real Estate industry is up 1.4% in the last week, with NEPI Rockcastle up 4.4%. This means that the industry has gained 21% over the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Sector Valuation and Performance

Has the South African Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Mar 2026R455.1bR104.2bR52.1b7.6x8.7x4.4x
Sun, 22 Feb 2026R495.9bR101.0bR49.5b8.1x10x4.9x
Tue, 20 Jan 2026R469.6bR101.2bR49.6b7.9x9.5x4.6x
Thu, 18 Dec 2025R461.0bR102.5bR50.6b7.6x9.1x4.5x
Sat, 15 Nov 2025R453.2bR102.0bR48.6b9.1x9.3x4.4x
Mon, 13 Oct 2025R428.4bR102.2bR49.3b8.2x8.7x4.2x
Wed, 10 Sep 2025R414.1bR103.2bR47.4b6.8x8.7x4x
Fri, 08 Aug 2025R405.2bR101.9bR49.4b6.8x8.2x4x
Sun, 06 Jul 2025R397.1bR102.0bR49.4b6.4x8x3.9x
Tue, 03 Jun 2025R392.6bR100.5bR46.4b6.4x8.5x3.9x
Thu, 01 May 2025R386.7bR100.5bR47.0b6.3x8.2x3.8x
Sat, 29 Mar 2025R367.7bR99.0bR45.9b6.2x8x3.7x
Mon, 24 Feb 2025R373.3bR98.9bR49.6b6.1x7.5x3.8x
Wed, 22 Jan 2025R367.4bR99.0bR49.7b6.1x7.4x3.7x
Fri, 20 Dec 2024R378.1bR98.8bR49.7b6.2x7.6x3.8x
Sun, 17 Nov 2024R369.2bR98.6bR50.0b6.1x7.4x3.7x
Tue, 15 Oct 2024R380.5bR98.1bR45.4b7x8.4x3.9x
Thu, 12 Sep 2024R379.7bR97.0bR44.1b7.2x8.6x3.9x
Sat, 10 Aug 2024R365.5bR95.8bR44.5b7.2x8.2x3.8x
Mon, 08 Jul 2024R352.4bR95.5bR44.2b6.9x8x3.7x
Wed, 05 Jun 2024R327.3bR93.0bR45.0b6.3x7.3x3.5x
Fri, 03 May 2024R329.1bR94.9bR43.6b5.8x7.5x3.5x
Sun, 31 Mar 2024R335.2bR95.3bR43.9b6.8x7.6x3.5x
Tue, 27 Feb 2024R340.0bR92.0bR37.2b7.5x9.1x3.7x
Thu, 25 Jan 2024R351.4bR97.8bR39.7b8.7x8.9x3.6x
Sat, 23 Dec 2023R345.7bR97.5bR39.5b8.6x8.8x3.5x
Mon, 20 Nov 2023R316.2bR96.7bR40.1b8.3x7.9x3.3x
Wed, 18 Oct 2023R308.8bR95.7bR46.2b7.8x6.7x3.2x
Fri, 15 Sep 2023R319.7bR95.5bR47.9b8.1x6.7x3.3x
Sun, 13 Aug 2023R337.5bR92.9bR47.1b7.5x7.2x3.6x
Tue, 11 Jul 2023R318.2bR92.8bR47.8b7.3x6.7x3.4x
Thu, 08 Jun 2023R326.6bR90.8bR47.0b8.1x6.9x3.6x
Sat, 06 May 2023R337.3bR88.5bR52.8b6.1x6.4x3.8x
Mon, 03 Apr 2023R318.9bR85.6bR41.0b5.9x7.8x3.7x
Price to Earnings Ratio

7.8x


Total Market Cap: R318.9bTotal Earnings: R41.0bTotal Revenue: R85.6bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Real Estate Sector Price to Earnings3Y Average 8x202420252026
Current Industry PE
  • Investors are relatively neutral on the South African 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 8.0x.
  • The 3-year average PS ratio of 3.8x is lower than the industry's current PS ratio of 4.4x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 8.3% per year over the last three years.
  • Revenues for these companies have grown 6.8% 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 South African Real Estate sector?

ZA Market0.42%
Real Estate1.39%
Real Estate2.56%
Specialized REITs2.20%
Office REITs1.20%
REITS0.96%
Industrial REITs0.88%
Retail REITs0.32%
Residential REITs0%0
Hotel and Resort REITs0%0
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Retail REITs industry, which is trading close to its 3-year average of 7.3x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 11% over the next 5 years.
  • This is better than its past earnings decline of 5.4% per year.
  • In contrast, the Real Estate industry is expected to see its earnings grow by 11% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NRP NEPI RockcastleR138.284.4%
+R4.1b		4.8%PE10.1x
EXP Exemplar REITailR17.3511.9%
+R620.5m		32.4%PB1x
GRT Growthpoint PropertiesR16.370.8%
+R440.4m		25.4%PB0.8x
OCT Octodec InvestmentsR16.009.7%
+R375.3m		55.3%PB0.6x
VKE Vukile Property FundR22.151.3%
+R360.9m		27.9%PB0.9x

Latest News

FFB
R23.26
Fortress Real Estate Investments
7D
-1.1%
1Y
25.5%
GRT
R16.37
Growthpoint Properties
7D
0.8%
1Y
25.4%
SSS
R16.85
Stor-Age Property REIT
7D
-0.9%
1Y
16.6%
DIB
R6.70
Dipula Properties
7D
-2.5%
1Y
30.9%
SAC
R3.30
SA Real Estate
7D
-1.2%
1Y
24.5%
LTE
R7.48
Lighthouse Properties
7D
-4.0%
1Y
-5.9%
RES
R79.96
Resilient REIT
7D
0.6%
1Y
40.3%
ATT
R17.44
Attacq
7D
-0.4%
1Y
32.3%
HYP
R54.49
Hyprop Investments
7D
-1.6%
1Y
28.4%
EXP
R17.35
Exemplar REITail
7D
11.9%
1Y
32.4%
NRP
R137.00
NEPI Rockcastle
7D
1.9%
1Y
3.4%
OCT
R16.00
Octodec Investments
7D
9.7%
1Y
55.3%
VKE
R22.11
Vukile Property Fund
7D
1.1%
1Y
27.7%
ACS
R12.80
Acsion
7D
3.9%
1Y
96.9%

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FTA
R17.61
Fairvest
7D
-2.2%
1Y
-1.6%
EMI
R13.45
Emira Property Fund
7D
5.8%
1Y
27.0%