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South African (JSE) Real Estate Sector Analysis
UpdatedDec 05, 2025
DataAggregated Company Financials
Companies35
- 7D-1.2%
- 3M11.5%
- 1Y16.9%
- YTD16.6%
Over the last 7 days, the Real Estate industry has dropped 1.2%, driven by a pullback from NEPI Rockcastle of 1.8%. Over the past 12 months, the industry was up 17%. In the next few years earnings are forecast to be pretty stable.
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 |
|---|---|---|---|---|---|---|
| Fri, 05 Dec 2025 | R464.4b | R103.2b | R51.7b | 7.6x | 9x | 4.5x |
| Sun, 02 Nov 2025 | R435.3b | R101.9b | R49.1b | 8.3x | 8.9x | 4.3x |
| Tue, 30 Sep 2025 | R408.2b | R102.2b | R48.7b | 7.6x | 8.4x | 4x |
| Thu, 28 Aug 2025 | R420.4b | R103.3b | R47.6b | 7.3x | 8.8x | 4.1x |
| Sat, 26 Jul 2025 | R399.4b | R102.1b | R49.5b | 6.7x | 8.1x | 3.9x |
| Mon, 23 Jun 2025 | R389.6b | R101.7b | R48.6b | 6.3x | 8x | 3.8x |
| Wed, 21 May 2025 | R382.8b | R100.6b | R46.4b | 6.6x | 8.2x | 3.8x |
| Fri, 18 Apr 2025 | R374.3b | R100.8b | R47.4b | 6.1x | 7.9x | 3.7x |
| Sun, 16 Mar 2025 | R368.8b | R100.9b | R46.6b | 6.2x | 7.9x | 3.7x |
| Tue, 11 Feb 2025 | R370.8b | R98.7b | R49.4b | 6x | 7.5x | 3.8x |
| Thu, 09 Jan 2025 | R375.4b | R99.2b | R49.9b | 6.1x | 7.5x | 3.8x |
| Sat, 07 Dec 2024 | R381.5b | R98.7b | R49.6b | 6.2x | 7.7x | 3.9x |
| Mon, 04 Nov 2024 | R369.5b | R98.0b | R45.5b | 7.2x | 8.1x | 3.8x |
| Wed, 02 Oct 2024 | R378.7b | R97.5b | R45.8b | 6.8x | 8.3x | 3.9x |
| Fri, 30 Aug 2024 | R382.7b | R95.5b | R44.7b | 7.8x | 8.6x | 4x |
| Sun, 28 Jul 2024 | R353.9b | R95.7b | R44.4b | 7.1x | 8x | 3.7x |
| Tue, 25 Jun 2024 | R349.6b | R94.4b | R45.7b | 6.3x | 7.7x | 3.7x |
| Thu, 23 May 2024 | R331.2b | R94.1b | R45.7b | 6.4x | 7.3x | 3.5x |
| Sat, 20 Apr 2024 | R320.5b | R95.3b | R43.9b | 6.5x | 7.3x | 3.4x |
| Mon, 18 Mar 2024 | R334.5b | R92.8b | R43.4b | 7.1x | 7.7x | 3.6x |
| Wed, 14 Feb 2024 | R321.4b | R90.1b | R37.9b | 7.4x | 8.5x | 3.6x |
| Fri, 12 Jan 2024 | R342.6b | R97.7b | R39.6b | 8.7x | 8.7x | 3.5x |
| Sun, 10 Dec 2023 | R333.3b | R97.6b | R39.8b | 8.3x | 8.4x | 3.4x |
| Tue, 07 Nov 2023 | R311.5b | R95.7b | R46.3b | 7.7x | 6.7x | 3.3x |
| Thu, 05 Oct 2023 | R313.7b | R95.6b | R47.3b | 7.8x | 6.6x | 3.3x |
| Sat, 02 Sep 2023 | R331.7b | R94.2b | R48.8b | 8.1x | 6.8x | 3.5x |
| Mon, 31 Jul 2023 | R330.0b | R91.8b | R46.2b | 7.9x | 7.1x | 3.6x |
| Wed, 28 Jun 2023 | R317.9b | R92.4b | R47.6b | 7.8x | 6.7x | 3.4x |
| Fri, 26 May 2023 | R323.3b | R90.4b | R50.2b | 6.5x | 6.4x | 3.6x |
| Sun, 23 Apr 2023 | R334.2b | R88.1b | R52.5b | 6.2x | 6.4x | 3.8x |
| Tue, 21 Mar 2023 | R259.7b | R68.6b | R41.6b | 7.1x | 6.2x | 3.8x |
| Thu, 16 Feb 2023 | R333.6b | R83.2b | R40.0b | 6x | 8.3x | 4x |
| Sat, 14 Jan 2023 | R337.4b | R82.3b | R39.3b | 6x | 8.6x | 4.1x |
| Mon, 12 Dec 2022 | R328.3b | R82.4b | R39.2b | 5.9x | 8.4x | 4x |
Price to Earnings Ratio
8.4x
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 9.0x which is higher than its 3-year average PE of 7.8x.
- The 3-year average PS ratio of 3.7x is lower than the industry's current PS ratio of 4.5x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 9.7% per year over the last three years.
- Revenues for these companies have grown 7.8% 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 | 0.54% | |
| Real Estate | -1.25% | |
| Office REITs | 3.36% | |
| Residential REITs | 0% | 0 |
| Hotel and Resort REITs | 0% | 0 |
| REITS | -0.36% | |
| Retail REITs | -1.36% | |
| Industrial REITs | -1.43% | |
| Real Estate | -1.90% | |
| Specialized REITs | -2.05% | |
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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| FTA Fairvest | R18.50 | 0% R4.9b | 8.7% | PB3.3x | |
| LTE Lighthouse Properties | R8.55 | 4.8% +R786.6m | 10.5% | PE11.2x | |
| CVW Castleview Property Fund | R9.54 | 0% R272.4m | 16.3% | PB0.9x | |
| RDF Redefine Properties | R5.93 | 0.5% +R208.4m | 28.4% | PB0.7x | |
| APF Accelerate Property Fund | R0.56 | -1.8% R122.0m | 19.1% | PB0.3x |