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South African (JSE) Real Estate Sector Analysis

UpdatedMar 24, 2026
DataAggregated Company Financials
Companies34
  • 7D-0.4%
  • 3M-2.4%
  • 1Y16.6%
  • YTD-3.6%

In the last week, Real Estate has been flat. The past year has been better, since the industry has gained 18% in that time. 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
Tue, 24 Mar 2026R449.2bR104.1bR53.3b7.5x8.4x4.3x
Thu, 19 Feb 2026R493.1bR101.0bR49.5b8.2x10x4.9x
Sat, 17 Jan 2026R469.4bR101.1bR49.6b7.9x9.5x4.6x
Mon, 15 Dec 2025R455.2bR102.6bR50.7b7.5x9x4.4x
Wed, 12 Nov 2025R444.1bR101.9bR48.8b8.1x9.1x4.4x
Fri, 10 Oct 2025R422.8bR101.7bR48.9b8x8.6x4.2x
Sun, 07 Sep 2025R409.4bR103.1bR47.5b6.8x8.6x4x
Tue, 05 Aug 2025R404.2bR102.0bR49.4b6.8x8.2x4x
Thu, 03 Jul 2025R389.7bR102.0bR49.4b6.3x7.9x3.8x
Sat, 31 May 2025R395.3bR100.5bR46.4b6.4x8.5x3.9x
Mon, 28 Apr 2025R381.9bR100.6bR47.1b6.2x8.1x3.8x
Wed, 26 Mar 2025R371.3bR98.8bR45.8b6.2x8.1x3.8x
Fri, 21 Feb 2025R368.9bR98.9bR49.7b6x7.4x3.7x
Sun, 19 Jan 2025R369.9bR99.0bR49.7b6.1x7.4x3.7x
Tue, 17 Dec 2024R384.4bR98.5bR49.3b6.2x7.8x3.9x
Thu, 14 Nov 2024R361.3bR98.7bR48.5b6.5x7.4x3.7x
Sat, 12 Oct 2024R380.5bR98.1bR45.4b7x8.4x3.9x
Mon, 09 Sep 2024R373.7bR97.1bR44.2b6.9x8.5x3.8x
Wed, 07 Aug 2024R359.1bR96.0bR44.7b6.8x8x3.7x
Fri, 05 Jul 2024R353.6bR95.1bR44.2b7.1x8x3.7x
Sun, 02 Jun 2024R321.2bR93.4bR45.3b6.4x7.1x3.4x
Tue, 30 Apr 2024R324.9bR94.9bR43.7b5.7x7.4x3.4x
Thu, 28 Mar 2024R336.8bR95.1bR43.5b7.4x7.8x3.5x
Sat, 24 Feb 2024R340.2bR92.0bR37.2b7.6x9.1x3.7x
Mon, 22 Jan 2024R347.3bR97.9bR39.8b8.7x8.7x3.5x
Wed, 20 Dec 2023R339.0bR97.4bR39.4b8.6x8.6x3.5x
Fri, 17 Nov 2023R323.6bR96.4bR39.9b8.5x8.1x3.4x
Sun, 15 Oct 2023R309.1bR95.9bR46.4b7.8x6.7x3.2x
Tue, 12 Sep 2023R327.5bR95.3bR51.7b7.2x6.3x3.4x
Thu, 10 Aug 2023R338.5bR92.9bR47.2b8.1x7.2x3.6x
Sat, 08 Jul 2023R321.7bR92.7bR47.8b7.7x6.7x3.5x
Mon, 05 Jun 2023R327.0bR91.2bR47.3b8.2x6.9x3.6x
Wed, 03 May 2023R337.4bR88.5bR52.8b6.2x6.4x3.8x
Fri, 31 Mar 2023R319.0bR85.7bR41.1b5.9x7.8x3.7x
Price to Earnings Ratio

7.8x


Total Market Cap: R319.0bTotal Earnings: R41.1bTotal Revenue: R85.7bTotal 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 4.3x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 9.1% 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-4.70%
Real Estate-0.36%
Office REITs2.42%
Industrial REITs1.42%
Retail REITs0.67%
Specialized REITs0.65%
Residential REITs0%0
Hotel and Resort REITs0%0
REITS-0.15%
Real Estate-1.41%
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 InvestmentsR23.462.6%
+R731.0m		18.5%PE8.3x
EMI Emira Property FundR13.538.7%
+R504.5m		24.4%PB0.6x
SAC SA Real EstateR3.353.7%
+R328.3m		19.2%PB0.8x
ATT AttacqR17.692.6%
+R314.9m		34.9%PB0.8x
DIB Dipula PropertiesR6.904.9%
+R291.3m		33.2%PB0.9x

Latest News

DIB
R6.90
Dipula Properties
7D
4.9%
1Y
33.2%
SAC
R3.35
SA Real Estate
7D
3.7%
1Y
19.2%
FFB
R23.46
Fortress Real Estate Investments
7D
2.6%
1Y
18.5%
ATT
R17.69
Attacq
7D
2.6%
1Y
34.9%
GRT
R16.12
Growthpoint Properties
7D
-2.0%
1Y
23.4%
MSP
R18.85
MAS
7D
-7.3%
1Y
3.6%
NRP
R134.82
NEPI Rockcastle
7D
-2.3%
1Y
-1.8%
RDF
R6.01
Redefine Properties
7D
-1.5%
1Y
40.1%
OCT
R15.51
Octodec Investments
7D
5.4%
1Y
51.0%
CGR
R4.59
Calgro M3 Holdings
7D
-2.3%
1Y
-16.5%
ACS
R12.80
Acsion
7D
6.0%
1Y
88.2%

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EQU
R17.16
Equites Property Fund
7D
1.4%
1Y
20.8%
EMI
R13.53
Emira Property Fund
7D
8.7%
1Y
24.4%
CPP
R10.21
Collins Property Group
7D
-2.8%
1Y
-7.0%

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