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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%

Growthpoint Properties is up 5.1%, leading the way for the Real Estate industry, which has gained 2.4%. This takes the industry's 12 month performance to a gain of 23%. Earnings are forecast to be flat in the coming years.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 04 Feb 2026R477.6bR100.9bR49.4b8.1x9.7x4.7x
Fri, 02 Jan 2026R467.5bR101.5bR49.9b8.1x9.4x4.6x
Sun, 30 Nov 2025R467.2bR103.1bR50.8b8x9.2x4.5x
Tue, 28 Oct 2025R430.1bR101.9bR49.2b8.3x8.7x4.2x
Thu, 25 Sep 2025R417.0bR102.2bR48.1b6.8x8.7x4.1x
Sat, 23 Aug 2025R424.9bR103.1bR47.5b7.5x8.9x4.1x
Mon, 21 Jul 2025R399.8bR101.8bR49.3b6.2x8.1x3.9x
Wed, 18 Jun 2025R386.8bR101.7bR48.5b6.1x8x3.8x
Fri, 16 May 2025R384.1bR100.5bR46.8b6.2x8.2x3.8x
Sun, 13 Apr 2025R354.4bR101.1bR47.6b6x7.4x3.5x
Tue, 11 Mar 2025R365.7bR100.1bR50.3b6x7.3x3.7x
Thu, 06 Feb 2025R369.1bR99.0bR49.7b6.1x7.4x3.7x
Sat, 04 Jan 2025R379.7bR99.0bR49.8b6.2x7.6x3.8x
Mon, 02 Dec 2024R375.0bR98.7bR48.7b6.1x7.7x3.8x
Wed, 30 Oct 2024R375.1bR98.0bR45.5b7x8.2x3.8x
Fri, 27 Sep 2024R381.4bR97.0bR46.1b7x8.3x3.9x
Sun, 25 Aug 2024R374.4bR95.6bR44.8b7.7x8.3x3.9x
Tue, 23 Jul 2024R351.1bR95.7bR44.4b6.9x7.9x3.7x
Thu, 20 Jun 2024R363.1bR94.2bR45.5b6.4x8x3.9x
Sat, 18 May 2024R328.2bR94.0bR45.9b6.7x7.2x3.5x
Mon, 15 Apr 2024R325.1bR95.1bR43.7b6.7x7.4x3.4x
Wed, 13 Mar 2024R339.8bR91.8bR37.2b7.5x9.1x3.7x
Fri, 09 Feb 2024R323.5bR90.1bR37.9b7.6x8.5x3.6x
Sun, 07 Jan 2024R343.5bR97.7bR39.6b8.6x8.7x3.5x
Tue, 05 Dec 2023R329.2bR97.6bR39.8b8.2x8.3x3.4x
Thu, 02 Nov 2023R306.3bR95.7bR46.3b7.7x6.6x3.2x
Sat, 30 Sep 2023R315.2bR95.4bR46.8b7.8x6.7x3.3x
Mon, 28 Aug 2023R336.2bR94.1bR48.7b8.2x6.9x3.6x
Wed, 26 Jul 2023R325.7bR91.8bR46.2b7.8x7x3.5x
Fri, 23 Jun 2023R325.2bR92.3bR47.7b8x6.8x3.5x
Sun, 21 May 2023R329.1bR91.0bR51.0b6x6.5x3.6x
Tue, 18 Apr 2023R340.1bR88.2bR52.5b6.3x6.5x3.9x
Thu, 16 Mar 2023R315.6bR84.2bR43.0b5.6x7.3x3.7x
Sat, 11 Feb 2023R333.4bR83.1bR39.9b6x8.3x4x
Price to Earnings Ratio

8.3x


Total Market Cap: R333.4bTotal Earnings: R39.9bTotal Revenue: R83.1bTotal 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
GRT Growthpoint PropertiesR18.315.1%
+R3.0b
50.1%PB0.9x
RDF Redefine PropertiesR6.406.1%
+R2.6b
42.9%PB0.8x
HYP Hyprop InvestmentsR59.194.3%
+R981.1m
36.1%PB1x
RES Resilient REITR83.992.9%
+R794.0m
44.5%PB1.2x
NRP NEPI RockcastleR147.250.6%
+R668.1m
5.4%PE9.8x

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