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South African (JSE) Real Estate Sector Analysis
UpdatedJan 22, 2025
DataAggregated Company Financials
Companies34
- 7D1.4%
- 3M-2.5%
- 1Y18.5%
- YTD-2.8%
The Real Estate industry is up 1.4% in the last week, with Redefine Properties up 1.4%. This means that the industry has gained 19% over the past year. Looking forward, earnings are forecast to decline by 2.1% per year.
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, 23 Jan 2025 | R367.4b | R99.0b | R49.7b | 6.1x | 7.4x | 3.7x |
| Sat, 21 Dec 2024 | R380.9b | R98.8b | R49.7b | 6.1x | 7.7x | 3.9x |
| Mon, 18 Nov 2024 | R369.2b | R98.6b | R50.0b | 6.1x | 7.4x | 3.7x |
| Wed, 16 Oct 2024 | R381.9b | R98.1b | R45.6b | 7x | 8.4x | 3.9x |
| Fri, 13 Sep 2024 | R376.9b | R97.3b | R45.1b | 7.4x | 8.4x | 3.9x |
| Sun, 11 Aug 2024 | R365.5b | R95.8b | R44.5b | 7.2x | 8.2x | 3.8x |
| Tue, 09 Jul 2024 | R351.4b | R95.4b | R44.1b | 6.8x | 8x | 3.7x |
| Thu, 06 Jun 2024 | R337.7b | R94.9b | R47.1b | 6x | 7.2x | 3.6x |
| Sat, 04 May 2024 | R327.4b | R94.9b | R43.6b | 5.9x | 7.5x | 3.5x |
| Mon, 01 Apr 2024 | R335.2b | R95.3b | R43.9b | 6.8x | 7.6x | 3.5x |
| Wed, 28 Feb 2024 | R338.5b | R91.8b | R37.1b | 7.5x | 9.1x | 3.7x |
| Fri, 26 Jan 2024 | R351.4b | R97.7b | R39.6b | 8.7x | 8.9x | 3.6x |
| Sun, 24 Dec 2023 | R345.7b | R97.6b | R39.5b | 8.6x | 8.7x | 3.5x |
| Tue, 21 Nov 2023 | R318.6b | R96.8b | R39.8b | 8.5x | 8x | 3.3x |
| Thu, 19 Oct 2023 | R306.1b | R96.0b | R46.4b | 7.6x | 6.6x | 3.2x |
| Sat, 16 Sep 2023 | R319.7b | R95.5b | R47.9b | 8.1x | 6.7x | 3.3x |
| Mon, 14 Aug 2023 | R337.5b | R92.9b | R47.1b | 7.5x | 7.2x | 3.6x |
| Wed, 12 Jul 2023 | R321.4b | R92.5b | R47.6b | 7.3x | 6.7x | 3.5x |
| Fri, 09 Jun 2023 | R328.4b | R91.7b | R48.7b | 7.3x | 6.7x | 3.6x |
| Sun, 07 May 2023 | R337.3b | R88.5b | R52.8b | 6.1x | 6.4x | 3.8x |
| Tue, 04 Apr 2023 | R305.1b | R81.0b | R40.3b | 5.8x | 7.6x | 3.8x |
| Thu, 02 Mar 2023 | R329.0b | R83.9b | R43.2b | 5.8x | 7.6x | 3.9x |
| Sat, 28 Jan 2023 | R332.5b | R82.7b | R39.6b | 6x | 8.4x | 4x |
| Mon, 26 Dec 2022 | R337.0b | R82.1b | R39.2b | 6x | 8.6x | 4.1x |
| Wed, 23 Nov 2022 | R334.4b | R80.8b | R39.5b | 6.3x | 8.5x | 4.1x |
| Fri, 21 Oct 2022 | R315.5b | R80.3b | R33.0b | 7.1x | 9.5x | 3.9x |
| Sun, 18 Sep 2022 | R322.2b | R79.6b | R31.8b | 7.3x | 10.1x | 4x |
| Tue, 16 Aug 2022 | R326.3b | R75.1b | R28.4b | 7.7x | 11.5x | 4.3x |
| Thu, 14 Jul 2022 | R305.7b | R75.3b | R28.6b | 7.1x | 10.7x | 4.1x |
| Sat, 11 Jun 2022 | R311.1b | R69.9b | R25.2b | 7.5x | 12.3x | 4.5x |
| Mon, 09 May 2022 | R318.0b | R72.1b | R22.6b | 8.2x | 14x | 4.4x |
| Wed, 06 Apr 2022 | R346.8b | R73.9b | R20.3b | 8.7x | 17.1x | 4.7x |
| Fri, 04 Mar 2022 | R349.7b | R77.7b | R19.6b | 8.6x | 17.9x | 4.5x |
| Sun, 30 Jan 2022 | R341.0b | R79.1b | R17.8b | 9.2x | 19.2x | 4.3x |
Price to Earnings Ratio
19.2x
Current Industry PE
- Investors are pessimistic on the South African Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 7.4x which is lower than its 3-year average PE of 9.1x.
- The industry is trading close to its 3-year average PS ratio of 3.8x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 41% 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 | 2.66% | |
| Real Estate | 1.37% | |
| Specialized REITs | 3.53% | |
| REITS | 2.45% | |
| Retail REITs | 1.00% | |
| Industrial REITs | 0.85% | |
| Real Estate | 0.70% | |
| Residential REITs | 0% | 0 |
| Hotel and Resort REITs | 0% | 0 |
| Health Care REITs | 0% | 0 |
| Office REITs | -3.26% | |
Industry PE
- Investors are most optimistic about the Industrial 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.
Forecasted Growth
- Despite it being negative, analysts are least pessimistic on the Real Estate industry since they expect its earnings to decline by only 2.1% per year over the next 5 years, which isn't as bad as the other industries.
- This is a reversal from its past annual earnings growth rate of 39% per year.
- In contrast, the Real Estate industry is expected to see its earnings decline by 2.1% 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 | R4.37 | 1.4% +R405.1m | 11.8% | PB0.6x | |
| SAC SA Real Estate | R2.96 | 2.1% +R149.0m | 11.3% | PB0.7x | |
| GRT Growthpoint Properties | R12.43 | 0.2% +R101.6m | 8.2% | PB0.6x | |
| SEA Spear Reit | R9.80 | 2.5% +R64.2m | 17.4% | PB0.8x | |
| DIB Dipula Income Fund | R5.40 | 1.1% +R54.6m | 28.6% | PB0.8x |