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South African (JSE) Real Estate Sector Analysis

UpdatedJul 18, 2025
DataAggregated Company Financials
Companies35
  • 7D0.2%
  • 3M5.7%
  • 1Y14.4%
  • YTD2.1%

The Real Estate industry has been flat over the last week, but MAS has lost 4.1%. As for the the longer term, the industry is up 14% over the past 12 months. Earnings are forecast to grow by 3.2% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 18 Jul 2025R400.2bR101.9bR49.4b6.2x8.1x3.9x
Sun, 15 Jun 2025R387.2bR101.2bR46.8b6.4x8.3x3.8x
Tue, 13 May 2025R387.4bR99.6bR46.4b6.4x8.4x3.9x
Thu, 10 Apr 2025R348.4bR100.6bR47.3b6x7.4x3.5x
Sat, 08 Mar 2025R367.8bR100.1bR50.2b6x7.3x3.7x
Mon, 03 Feb 2025R369.6bR99.1bR49.8b6.2x7.4x3.7x
Wed, 01 Jan 2025R376.7bR99.4bR50.2b6.2x7.5x3.8x
Fri, 29 Nov 2024R374.7bR98.6bR48.5b6.2x7.7x3.8x
Sun, 27 Oct 2024R375.9bR98.0bR45.5b6.9x8.3x3.8x
Tue, 24 Sep 2024R378.7bR97.3bR46.3b6.8x8.2x3.9x
Thu, 22 Aug 2024R367.6bR95.7bR44.9b7.7x8.2x3.8x
Sat, 20 Jul 2024R349.0bR95.8bR44.2b6.7x7.9x3.6x
Mon, 17 Jun 2024R340.7bR94.5bR45.7b6.1x7.5x3.6x
Wed, 15 May 2024R329.1bR94.9bR43.9b6x7.5x3.5x
Fri, 12 Apr 2024R330.5bR95.0bR43.7b6.8x7.6x3.5x
Sun, 10 Mar 2024R341.9bR92.0bR37.3b7.8x9.2x3.7x
Tue, 06 Feb 2024R323.5bR90.1bR37.9b7.5x8.5x3.6x
Thu, 04 Jan 2024R348.7bR97.7bR39.6b8.7x8.8x3.6x
Sat, 02 Dec 2023R325.7bR97.6bR39.7b8.1x8.2x3.3x
Mon, 30 Oct 2023R298.1bR95.9bR46.5b7.4x6.4x3.1x
Wed, 27 Sep 2023R316.0bR95.9bR48.0b7.8x6.6x3.3x
Fri, 25 Aug 2023R335.9bR94.2bR48.9b8.2x6.9x3.6x
Sun, 23 Jul 2023R326.1bR92.2bR46.6b7.8x7x3.5x
Tue, 20 Jun 2023R331.7bR91.9bR47.9b7.6x6.9x3.6x
Thu, 18 May 2023R326.1bR90.4bR51.8b5.8x6.3x3.6x
Sat, 15 Apr 2023R340.8bR87.8bR52.0b7.2x6.6x3.9x
Mon, 13 Mar 2023R326.0bR84.4bR43.5b5.5x7.5x3.9x
Wed, 08 Feb 2023R334.5bR82.8bR39.6b6x8.4x4x
Fri, 06 Jan 2023R333.2bR82.2bR39.3b5.9x8.5x4.1x
Sun, 04 Dec 2022R327.9bR82.4bR39.2b5.9x8.4x4x
Tue, 01 Nov 2022R319.2bR80.0bR33.3b7.9x9.6x4x
Thu, 29 Sep 2022R296.8bR79.2bR31.4b7.6x9.5x3.7x
Sat, 27 Aug 2022R315.9bR77.5bR30.0b7.3x10.5x4.1x
Mon, 25 Jul 2022R315.0bR75.4bR28.7b7.2x11x4.2x
Price to Earnings Ratio

11x


Total Market Cap: R315.0bTotal Earnings: R28.7bTotal Revenue: R75.4bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Real Estate Sector Price to Earnings3Y Average 8x202320242025
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 industry is trading close to its 3-year average PS ratio of 3.7x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 20% per year over the last three years.
  • Revenues for these companies have grown 11% 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-0.22%
Real Estate0.21%
Office REITs4.87%
Industrial REITs1.56%
REITS0.60%
Real Estate0.14%
Residential REITs0%0
Hotel and Resort REITs0%0
Retail REITs-0.48%
Specialized REITs-0.64%
Industry PE
  • Investors are most optimistic about the Industrial REITs industry which is trading above its 3-year average PE ratio of 1.9x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 3.2% over the next 5 years.
  • This is better than its past earnings decline of 6.9% per year.
  • In contrast, the Real Estate industry is expected to see its earnings grow by 3.2% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NRP NEPI RockcastleR137.201.8%
+R1.7b		5.1%PE8.1x
GRT Growthpoint PropertiesR14.263.3%
+R1.5b		19.4%PB0.7x
RDF Redefine PropertiesR4.802.3%
+R742.8m		15.9%PB0.6x
BTN Burstone GroupR8.333.1%
+R198.4m		7.5%PB0.7x
EMI Emira Property FundR11.452.6%
+R139.4m		5.4%PB0.6x

Latest News

SEA
R10.12
Spear Reit
7D
-0.6%
1Y
15.0%
VKE
R19.52
Vukile Property Fund
7D
-0.4%
1Y
19.3%
RES
R62.23
Resilient REIT
7D
-1.2%
1Y
29.0%
APF
R0.45
Accelerate Property Fund
7D
-11.8%
1Y
-10.0%
SAC
R3.03
SA Real Estate
7D
-2.9%
1Y
12.2%
BTN
R8.33
Burstone Group
7D
3.1%
1Y
7.5%
LTE
R8.09
Lighthouse Properties
7D
-1.1%
1Y
2.9%
GRT
R14.26
Growthpoint Properties
7D
3.3%
1Y
19.4%
TEX
R2.80
Texton Property Fund
7D
4.1%
1Y
-13.8%
EQU
R15.38
Equites Property Fund
7D
-0.8%
1Y
17.6%
MSP
R23.05
MAS
7D
0.4%
1Y
29.1%
FTA
R18.00
Fairvest
7D
0.1%
1Y
16.5%
NRP
R137.20
NEPI Rockcastle
7D
1.8%
1Y
5.1%
EMI
R11.45
Emira Property Fund
7D
2.6%
1Y
5.4%
RDF
R4.80
Redefine Properties
7D
2.3%
1Y
15.9%
ATT
R14.28
Attacq
7D
-2.8%
1Y
34.6%