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South African (JSE) Real Estate Sector Analysis

UpdatedMar 19, 2026
DataAggregated Company Financials
Companies34
  • 7D-1.4%
  • 3M-2.6%
  • 1Y17.5%
  • YTD-3.7%

Over the last 7 days, the Real Estate industry has dropped 1.4%, driven by NEPI Rockcastle declining 3.1%. Over the past 12 months, the industry was up 17%. Earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 19 Mar 2026R448.2bR104.0bR53.3b7.4x8.4x4.3x
Sat, 14 Feb 2026R485.0bR101.1bR49.5b7.9x9.8x4.8x
Mon, 12 Jan 2026R473.3bR101.3bR49.7b7.9x9.5x4.7x
Wed, 10 Dec 2025R451.1bR103.2bR51.7b7.6x8.7x4.4x
Fri, 07 Nov 2025R441.7bR102.1bR49.0b7.1x9x4.3x
Sun, 05 Oct 2025R418.5bR102.2bR48.7b7.8x8.6x4.1x
Tue, 02 Sep 2025R417.9bR103.4bR47.6b7.2x8.8x4x
Thu, 31 Jul 2025R405.7bR101.8bR49.3b6.8x8.2x4x
Sat, 28 Jun 2025R391.9bR102.1bR48.7b6.3x8.1x3.8x
Mon, 26 May 2025R381.4bR100.7bR46.6b6.1x8.2x3.8x
Wed, 23 Apr 2025R376.5bR100.7bR47.3b6.1x8x3.7x
Fri, 21 Mar 2025R372.7bR98.6bR45.7b6.2x8.2x3.8x
Sun, 16 Feb 2025R371.9bR99.0bR49.7b6x7.5x3.8x
Tue, 14 Jan 2025R366.1bR99.2bR49.9b6x7.3x3.7x
Thu, 12 Dec 2024R383.0bR98.3bR49.2b6.2x7.8x3.9x
Sat, 09 Nov 2024R366.7bR98.2bR47.6b7.4x7.7x3.7x
Mon, 07 Oct 2024R376.4bR97.5bR45.7b7.3x8.2x3.9x
Wed, 04 Sep 2024R367.0bR97.1bR44.2b7.2x8.3x3.8x
Fri, 02 Aug 2024R362.6bR95.6bR44.3b7.2x8.2x3.8x
Sun, 30 Jun 2024R346.9bR94.4bR45.7b6.2x7.6x3.7x
Tue, 28 May 2024R323.8bR92.7bR44.2b5.9x7.3x3.5x
Thu, 25 Apr 2024R317.6bR95.5bR44.1b6.6x7.2x3.3x
Sat, 23 Mar 2024R333.5bR95.2bR43.5b7x7.7x3.5x
Mon, 19 Feb 2024R316.8bR90.0bR37.8b7.4x8.4x3.5x
Wed, 17 Jan 2024R343.4bR97.8bR39.7b8.7x8.7x3.5x
Fri, 15 Dec 2023R342.0bR97.4bR39.6b8.7x8.6x3.5x
Sun, 12 Nov 2023R312.7bR96.4bR40.6b8.3x7.7x3.2x
Tue, 10 Oct 2023R311.8bR95.7bR47.3b7.9x6.6x3.3x
Thu, 07 Sep 2023R328.3bR95.6bR51.9b7.1x6.3x3.4x
Sat, 05 Aug 2023R332.3bR92.5bR46.9b7.9x7.1x3.6x
Mon, 03 Jul 2023R322.4bR92.2bR47.7b7.8x6.8x3.5x
Wed, 31 May 2023R322.2bR91.3bR47.7b7x6.7x3.5x
Fri, 28 Apr 2023R338.1bR88.3bR52.7b6.3x6.4x3.8x
Sun, 26 Mar 2023R259.1bR68.3bR41.4b7.2x6.3x3.8x
Price to Earnings Ratio

6.3x


Total Market Cap: R259.1bTotal Earnings: R41.4bTotal Revenue: R68.3bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Real Estate Sector Price to Earnings3Y Average 7.9x202420252026
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 7.9x.
  • The 3-year average PS ratio of 3.8x is lower than the industry's current PS ratio of 4.3x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 8.8% per year over the last three years.
  • Revenues for these companies have grown 15% 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 Market-2.48%
Real Estate-1.41%
Office REITs0.55%
Industrial REITs0.35%
Residential REITs0%0
Hotel and Resort REITs0%0
Retail REITs-0.46%
REITS-1.40%
Real Estate-2.21%
Specialized REITs-2.21%
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 growth rate of 3.8% 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
FFB Fortress Real Estate InvestmentsR23.523.7%
+R1.0b		20.4%PE8.3x
EXP Exemplar REITailR15.508.8%
+R419.3m		18.3%PB0.9x
ATT AttacqR17.512.5%
+R293.9m		32.9%PB0.8x
DIB Dipula PropertiesR6.874.1%
+R245.8m		34.2%PB0.9x
EQU Equites Property FundR17.001.6%
+R223.0m		18.2%PB1x

Latest News

FFB
R23.52
Fortress Real Estate Investments
7D
3.7%
1Y
20.4%
RES
R79.50
Resilient REIT
7D
0.7%
1Y
37.4%
ATT
R17.51
Attacq
7D
2.5%
1Y
32.9%
GRT
R16.24
Growthpoint Properties
7D
0.2%
1Y
24.3%
MSP
R19.44
MAS
7D
-2.6%
1Y
7.3%
HYP
R55.35
Hyprop Investments
7D
-1.5%
1Y
30.0%
EXP
R15.50
Exemplar REITail
7D
8.8%
1Y
18.3%
DIB
R6.87
Dipula Properties
7D
4.1%
1Y
34.2%
NRP
R134.40
NEPI Rockcastle
7D
-0.09%
1Y
0.3%
RDF
R6.02
Redefine Properties
7D
-0.5%
1Y
39.7%
CGR
R4.64
Calgro M3 Holdings
7D
-7.2%
1Y
-14.1%
VKE
R21.86
Vukile Property Fund
7D
-2.3%
1Y
23.3%
ACS
R12.32
Acsion
7D
2.9%
1Y
81.2%

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ANI
R4.40
Afine Investments
7D
-9.7%
1Y
14.0%
EQU
R17.00
Equites Property Fund
7D
1.6%
1Y
18.2%
CPP
R10.17
Collins Property Group
7D
-7.5%
1Y
-0.8%

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