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South African (JSE) Real Estate Sector Analysis
UpdatedApr 09, 2026
DataAggregated Company Financials
Companies34
- 7D3.8%
- 3M-1.8%
- 1Y27.4%
- YTD0.02%
Over the last 7 days, the Real Estate industry has dropped 1.0%, driven by Fairvest declining 16%. In the past year, the industry has gained 25%. 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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 09 Apr 2026 | R466.3b | R103.7b | R51.7b | 8x | 9x | 4.5x |
| Sat, 07 Mar 2026 | R464.8b | R102.6b | R49.7b | 8.1x | 9.3x | 4.5x |
| Mon, 02 Feb 2026 | R470.8b | R101.3b | R49.7b | 7.9x | 9.5x | 4.6x |
| Wed, 31 Dec 2025 | R466.7b | R101.7b | R50.0b | 7.9x | 9.3x | 4.6x |
| Fri, 28 Nov 2025 | R467.6b | R102.9b | R50.9b | 7.8x | 9.2x | 4.5x |
| Sun, 26 Oct 2025 | R429.2b | R101.9b | R49.2b | 8.3x | 8.7x | 4.2x |
| Tue, 23 Sep 2025 | R415.9b | R102.3b | R48.2b | 6.8x | 8.6x | 4.1x |
| Thu, 21 Aug 2025 | R421.6b | R103.3b | R47.6b | 7.4x | 8.9x | 4.1x |
| Sat, 19 Jul 2025 | R399.8b | R101.8b | R49.3b | 6.2x | 8.1x | 3.9x |
| Mon, 16 Jun 2025 | R387.2b | R101.2b | R46.8b | 6.4x | 8.3x | 3.8x |
| Wed, 14 May 2025 | R384.8b | R99.7b | R46.8b | 6.2x | 8.2x | 3.9x |
| Fri, 11 Apr 2025 | R356.4b | R101.2b | R47.7b | 6x | 7.5x | 3.5x |
| Sun, 09 Mar 2025 | R367.8b | R100.1b | R50.2b | 6x | 7.3x | 3.7x |
| Tue, 04 Feb 2025 | R369.6b | R99.1b | R49.8b | 6.1x | 7.4x | 3.7x |
| Thu, 02 Jan 2025 | R376.7b | R99.2b | R50.0b | 6.2x | 7.5x | 3.8x |
| Sat, 30 Nov 2024 | R375.0b | R98.5b | R48.4b | 6.1x | 7.8x | 3.8x |
| Mon, 28 Oct 2024 | R376.0b | R98.0b | R45.5b | 6.9x | 8.3x | 3.8x |
| Wed, 25 Sep 2024 | R383.2b | R97.1b | R46.2b | 6.9x | 8.3x | 3.9x |
| Fri, 23 Aug 2024 | R369.5b | R95.8b | R45.1b | 7.7x | 8.2x | 3.9x |
| Sun, 21 Jul 2024 | R349.0b | R95.8b | R44.2b | 6.7x | 7.9x | 3.6x |
| Tue, 18 Jun 2024 | R340.7b | R94.3b | R45.6b | 6.1x | 7.5x | 3.6x |
| Thu, 16 May 2024 | R330.4b | R94.1b | R46.3b | 6.3x | 7.1x | 3.5x |
| Sat, 13 Apr 2024 | R325.1b | R95.1b | R43.7b | 6.7x | 7.4x | 3.4x |
| Mon, 11 Mar 2024 | R342.0b | R92.0b | R37.3b | 7.8x | 9.2x | 3.7x |
| Wed, 07 Feb 2024 | R323.9b | R90.0b | R37.8b | 7.6x | 8.6x | 3.6x |
| Fri, 05 Jan 2024 | R348.0b | R97.7b | R39.6b | 8.7x | 8.8x | 3.6x |
| Sun, 03 Dec 2023 | R325.7b | R97.5b | R39.7b | 8.1x | 8.2x | 3.3x |
| Tue, 31 Oct 2023 | R299.4b | R96.0b | R46.5b | 7.3x | 6.4x | 3.1x |
| Thu, 28 Sep 2023 | R315.9b | R96.0b | R48.1b | 7.8x | 6.6x | 3.3x |
| Sat, 26 Aug 2023 | R336.2b | R94.1b | R48.7b | 8.2x | 6.9x | 3.6x |
| Mon, 24 Jul 2023 | R326.1b | R92.2b | R46.6b | 7.8x | 7x | 3.5x |
| Wed, 21 Jun 2023 | R330.5b | R92.1b | R47.6b | 8.2x | 6.9x | 3.6x |
| Fri, 19 May 2023 | R325.2b | R90.4b | R51.8b | 5.8x | 6.3x | 3.6x |
| Sun, 16 Apr 2023 | R340.8b | R87.8b | R52.0b | 7.2x | 6.6x | 3.9x |
Price to Earnings Ratio
6.6x
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 remained mostly flat over the last three years.
- Meanwhile revenues for these companies have grown 5.9% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.
Industry Trends
Which industries have driven the changes within the South African Real Estate sector?
| ZA Market | 3.21% | |
| Real Estate | 3.77% | |
| REITS | 6.65% | |
| Specialized REITs | 4.77% | |
| Industrial REITs | 4.23% | |
| Retail REITs | 2.30% | |
| Real Estate | 2.11% | |
| Residential REITs | 0% | 0 |
| Hotel and Resort REITs | 0% | 0 |
| Office REITs | -1.26% | |
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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| GRT Growthpoint Properties | R17.50 | 7.8% +R4.3b | 43.6% | PB0.9x | |
| RDF Redefine Properties | R6.44 | 7.3% +R3.1b | 59.8% | PB0.8x | |
| NRP NEPI Rockcastle | R139.90 | 2.2% +R2.2b | 7.7% | PE10.4x | |
| FFB Fortress Real Estate Investments | R23.62 | 5.4% +R1.5b | 29.1% | PE8.4x | |
| VKE Vukile Property Fund | R23.48 | 3.7% +R1.0b | 32.8% | PB1x |
