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South African (JSE) Real Estate Sector Analysis
UpdatedApr 06, 2026
DataAggregated Company Financials
Companies34
- 7D0.4%
- 3M-3.7%
- 1Y25.3%
- YTD-3.6%
The Real Estate industry has stayed flat over the last week. The past year has been better, since the industry has gained 25% 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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 06 Apr 2026 | R448.6b | R104.2b | R52.0b | 7.7x | 8.6x | 4.3x |
| Wed, 04 Mar 2026 | R480.8b | R102.4b | R49.2b | 8.3x | 9.8x | 4.7x |
| Fri, 30 Jan 2026 | R472.7b | R101.0b | R49.5b | 7.9x | 9.6x | 4.7x |
| Sun, 28 Dec 2025 | R460.8b | R101.8b | R50.0b | 7.8x | 9.2x | 4.5x |
| Tue, 25 Nov 2025 | R457.8b | R102.2b | R49.7b | 8.5x | 9.2x | 4.5x |
| Thu, 23 Oct 2025 | R429.5b | R102.1b | R49.3b | 8.4x | 8.7x | 4.2x |
| Sat, 20 Sep 2025 | R417.5b | R102.2b | R48.1b | 6.8x | 8.7x | 4.1x |
| Mon, 18 Aug 2025 | R416.3b | R102.4b | R48.1b | 7.3x | 8.7x | 4.1x |
| Wed, 16 Jul 2025 | R398.2b | R102.1b | R49.5b | 6.4x | 8x | 3.9x |
| Fri, 13 Jun 2025 | R393.9b | R101.1b | R46.7b | 6.4x | 8.4x | 3.9x |
| Sun, 11 May 2025 | R385.3b | R99.9b | R46.5b | 6.3x | 8.3x | 3.9x |
| Tue, 08 Apr 2025 | R346.6b | R100.8b | R47.4b | 6x | 7.3x | 3.4x |
| Thu, 06 Mar 2025 | R369.1b | R100.1b | R50.2b | 6.1x | 7.4x | 3.7x |
| Sat, 01 Feb 2025 | R369.6b | R99.1b | R49.8b | 6.2x | 7.4x | 3.7x |
| Mon, 30 Dec 2024 | R377.2b | R99.2b | R50.1b | 6.2x | 7.5x | 3.8x |
| Wed, 27 Nov 2024 | R371.4b | R98.5b | R48.5b | 6.1x | 7.7x | 3.8x |
| Fri, 25 Oct 2024 | R379.0b | R98.0b | R45.5b | 7.3x | 8.3x | 3.9x |
| Sun, 22 Sep 2024 | R378.7b | R97.3b | R46.3b | 6.8x | 8.2x | 3.9x |
| Tue, 20 Aug 2024 | R370.4b | R95.7b | R44.1b | 7.3x | 8.4x | 3.9x |
| Thu, 18 Jul 2024 | R351.7b | R95.8b | R44.2b | 6.9x | 8x | 3.7x |
| Sat, 15 Jun 2024 | R340.7b | R94.4b | R45.7b | 6.1x | 7.5x | 3.6x |
| Mon, 13 May 2024 | R329.9b | R95.2b | R43.8b | 5.9x | 7.5x | 3.5x |
| Wed, 10 Apr 2024 | R333.8b | R95.0b | R43.6b | 6.8x | 7.7x | 3.5x |
| Fri, 08 Mar 2024 | R340.9b | R91.7b | R37.1b | 7.7x | 9.2x | 3.7x |
| Sun, 04 Feb 2024 | R358.8b | R97.6b | R39.6b | 8.7x | 9.1x | 3.7x |
| Tue, 02 Jan 2024 | R348.0b | R97.6b | R39.5b | 8.7x | 8.8x | 3.6x |
| Thu, 30 Nov 2023 | R322.3b | R97.1b | R40.4b | 8.4x | 8x | 3.3x |
| Sat, 28 Oct 2023 | R298.1b | R95.9b | R46.5b | 7.4x | 6.4x | 3.1x |
| Mon, 25 Sep 2023 | R319.2b | R95.7b | R48.0b | 8.1x | 6.6x | 3.3x |
| Wed, 23 Aug 2023 | R332.2b | R92.7b | R47.1b | 8.1x | 7.1x | 3.6x |
| Fri, 21 Jul 2023 | R325.2b | R92.2b | R46.6b | 7.8x | 7x | 3.5x |
| Sun, 18 Jun 2023 | R329.9b | R91.8b | R48.1b | 7.6x | 6.9x | 3.6x |
| Tue, 16 May 2023 | R329.6b | R88.9b | R53.0b | 5.8x | 6.2x | 3.7x |
| Thu, 13 Apr 2023 | R339.4b | R88.1b | R52.2b | 7.3x | 6.5x | 3.9x |
Price to Earnings Ratio
6.5x
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 5.8% 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 | 2.87% | |
| Real Estate | 0.37% | |
| Retail REITs | 1.54% | |
| REITS | 0.52% | |
| Residential REITs | 0% | 0 |
| Hotel and Resort REITs | 0% | 0 |
| Office REITs | -0.37% | |
| Real Estate | -0.38% | |
| Industrial REITs | -0.89% | |
| Specialized REITs | -1.12% | |
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 | |
|---|---|---|---|---|---|
| RDF Redefine Properties | R6.00 | 2.0% +R833.8m | 55.0% | PB0.7x | |
| RES Resilient REIT | R81.19 | 2.8% +R730.7m | 50.4% | PB1x | |
| VKE Vukile Property Fund | R22.65 | 2.1% +R585.0m | 36.8% | PB1x | |
| GRT Growthpoint Properties | R16.24 | 0.8% +R440.4m | 34.9% | PB0.8x | |
| DIB Dipula Properties | R6.99 | 4.8% +R291.3m | 47.2% | PB0.9x |