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South African (JSE) Real Estate Sector Analysis

UpdatedFeb 04, 2026
DataAggregated Company Financials
Companies34
  • 7D2.4%
  • 3M8.1%
  • 1Y23.1%
  • YTD2.8%

Over the last 7 days, the Real Estate industry has risen 2.4%, driven by gains in Redefine Properties and Growthpoint Properties of 4.9% and 3.4%, respectively. This means that the industry has gained 23% over the past year. Looking forward, earnings are expected to remain mostly flat in the next few years.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Feb 2026R477.6bR100.9bR49.4b8.1x9.7x4.7x
Sat, 03 Jan 2026R465.5bR101.5bR49.8b8.1x9.3x4.6x
Mon, 01 Dec 2025R467.2bR103.1bR50.8b8x9.2x4.5x
Wed, 29 Oct 2025R437.4bR101.9bR49.1b8.4x8.9x4.3x
Fri, 26 Sep 2025R412.0bR102.2bR48.1b7.7x8.6x4x
Sun, 24 Aug 2025R424.9bR103.1bR47.5b7.5x8.9x4.1x
Tue, 22 Jul 2025R399.8bR101.9bR49.3b6.5x8.1x3.9x
Thu, 19 Jun 2025R387.9bR101.6bR48.5b6.2x8x3.8x
Sat, 17 May 2025R388.2bR100.4bR46.8b6.3x8.3x3.9x
Mon, 14 Apr 2025R354.4bR101.1bR47.6b6x7.4x3.5x
Wed, 12 Mar 2025R365.6bR100.3bR50.8b6x7.2x3.6x
Fri, 07 Feb 2025R366.6bR98.9bR49.6b6.2x7.4x3.7x
Sun, 05 Jan 2025R379.7bR99.0bR49.8b6.2x7.6x3.8x
Tue, 03 Dec 2024R376.6bR98.7bR48.7b6.1x7.7x3.8x
Thu, 31 Oct 2024R371.9bR98.1bR45.6b7x8.2x3.8x
Sat, 28 Sep 2024R383.0bR96.9bR46.0b6.9x8.3x4x
Mon, 26 Aug 2024R374.4bR95.6bR44.8b7.7x8.3x3.9x
Wed, 24 Jul 2024R353.6bR95.8bR44.5b7.1x7.9x3.7x
Fri, 21 Jun 2024R353.7bR94.2bR45.5b6.1x7.8x3.8x
Sun, 19 May 2024R328.2bR94.0bR45.9b6.7x7.1x3.5x
Tue, 16 Apr 2024R325.4bR95.1bR43.7b6.8x7.4x3.4x
Thu, 14 Mar 2024R337.4bR92.4bR43.1b7x7.8x3.7x
Sat, 10 Feb 2024R321.9bR90.2bR37.9b7.6x8.5x3.6x
Mon, 08 Jan 2024R343.5bR97.7bR39.6b8.6x8.7x3.5x
Wed, 06 Dec 2023R332.5bR97.7bR39.9b8.4x8.3x3.4x
Fri, 03 Nov 2023R310.7bR95.6bR46.2b7.7x6.7x3.2x
Sun, 01 Oct 2023R315.2bR95.3bR46.8b7.8x6.7x3.3x
Tue, 29 Aug 2023R337.6bR94.0bR48.7b8.2x6.9x3.6x
Thu, 27 Jul 2023R325.6bR91.9bR46.3b7.8x7x3.5x
Sat, 24 Jun 2023R319.6bR92.1bR47.7b7.8x6.7x3.5x
Mon, 22 May 2023R329.1bR91.0bR51.0b6x6.5x3.6x
Wed, 19 Apr 2023R339.2bR88.1bR52.5b6.4x6.5x3.8x
Fri, 17 Mar 2023R318.9bR84.7bR41.4b6x7.7x3.8x
Sun, 12 Feb 2023R333.4bR83.0bR39.9b6x8.4x4x
Price to Earnings Ratio

8.4x


Total Market Cap: R333.4bTotal Earnings: R39.9bTotal Revenue: R83.0bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Real Estate Sector Price to Earnings3Y Average 7.9x202420252026
Current Industry PE
  • Investors are optimistic on the South African Real Estate industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 9.7x which is higher than its 3-year average PE of 7.9x.
  • The 3-year average PS ratio of 3.8x is lower than the industry's current PS ratio of 4.7x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 7.4% per year over the last three years.
  • Revenues for these companies have grown 6.7% 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-2.07%
Real Estate2.36%
Office REITs5.86%
REITS4.63%
Specialized REITs2.27%
Retail REITs2.09%
Real Estate0.78%
Residential REITs0%0
Hotel and Resort REITs0%0
Industrial REITs-0.83%
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 Specialized REITs industry, which is trading close to its 3-year average of 8.1x.
Forecasted Growth
  • Despite it being negative, analysts are least pessimistic on the Real Estate industry since they expect its earnings to decline by only 0.9% per year over the next 5 years, which isn't as bad as the other industries.
  • In contrast, the Real Estate industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
RDF Redefine PropertiesR6.464.9%
+R2.1b		49.5%PB0.8x
GRT Growthpoint PropertiesR18.023.4%
+R2.0b		49.4%PB0.9x
HYP Hyprop InvestmentsR58.832.9%
+R662.1m		37.6%PB1x
SAC SA Real EstateR3.826.7%
+R621.8m		34.5%PB0.9x
FFB Fortress Real Estate InvestmentsR24.191.9%
+R541.9m		28.1%PE10.9x

Latest News

HYP
R58.83
Hyprop Investments
7D
2.9%
1Y
37.6%
SSS
R18.03
Stor-Age Property REIT
7D
2.4%
1Y
21.6%
EQU
R18.00
Equites Property Fund
7D
-0.9%
1Y
27.1%
RDF
R6.46
Redefine Properties
7D
4.9%
1Y
49.5%
RES
R82.64
Resilient REIT
7D
1.3%
1Y
43.6%
SAC
R3.82
SA Real Estate
7D
6.7%
1Y
34.5%
VKE
R24.75
Vukile Property Fund
7D
-0.2%
1Y
43.8%
FFB
R24.19
Fortress Real Estate Investments
7D
1.9%
1Y
28.1%
GRT
R18.02
Growthpoint Properties
7D
3.4%
1Y
49.4%
ATT
R17.38
Attacq
7D
2.4%
1Y
32.4%
NRP
R146.03
NEPI Rockcastle
7D
-0.3%
1Y
5.4%
DLT
R0.38
Delta Property Fund
7D
-2.6%
1Y
72.7%
MSP
R21.57
MAS
7D
-2.0%
1Y
-1.4%
CGR
R4.72
Calgro M3 Holdings
7D
-5.6%
1Y
-21.3%