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South African (JSE) Real Estate Sector Analysis

UpdatedApr 14, 2026
DataAggregated Company Financials
Companies34
  • 7D3.5%
  • 3M-1.1%
  • 1Y22.8%
  • YTD-0.6%

In the last week, the Real Estate industry is up 3.5%, with Growthpoint Properties up 6.8%. This means that the industry has gained 23% over the past year. Earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 14 Apr 2026R463.7bR103.9bR51.8b7.9x9x4.5x
Thu, 12 Mar 2026R444.7bR100.6bR49.4b7.8x9x4.4x
Sat, 07 Feb 2026R483.8bR101.0bR49.5b8.4x9.8x4.8x
Mon, 05 Jan 2026R465.5bR101.5bR49.8b8.1x9.3x4.6x
Wed, 03 Dec 2025R459.9bR102.8bR51.0b7.8x9x4.5x
Fri, 31 Oct 2025R437.7bR101.9bR49.1b8.4x8.9x4.3x
Sun, 28 Sep 2025R409.1bR102.3bR48.7b7.7x8.4x4x
Tue, 26 Aug 2025R422.9bR103.2bR47.5b7.5x8.9x4.1x
Thu, 24 Jul 2025R404.7bR101.9bR49.4b6.8x8.2x4x
Sat, 21 Jun 2025R389.6bR101.7bR48.6b6.3x8x3.8x
Mon, 19 May 2025R389.1bR100.5bR46.3b6.6x8.4x3.9x
Wed, 16 Apr 2025R367.7bR100.9bR47.5b6x7.7x3.6x
Fri, 14 Mar 2025R368.0bR100.8bR47.2b6x7.8x3.7x
Sun, 09 Feb 2025R366.6bR98.7bR49.4b6x7.4x3.7x
Tue, 07 Jan 2025R377.2bR99.0bR49.7b6.1x7.6x3.8x
Thu, 05 Dec 2024R377.9bR98.7bR49.6b6.1x7.6x3.8x
Sat, 02 Nov 2024R369.5bR98.0bR45.5b7.2x8.1x3.8x
Mon, 30 Sep 2024R383.0bR96.9bR46.0b6.9x8.3x4x
Wed, 28 Aug 2024R381.9bR95.6bR44.8b7.7x8.5x4x
Fri, 26 Jul 2024R353.7bR95.7bR44.5b7x8x3.7x
Sun, 23 Jun 2024R348.1bR94.1bR45.4b6.2x7.7x3.7x
Tue, 21 May 2024R329.5bR94.0bR45.6b6.3x7.2x3.5x
Thu, 18 Apr 2024R320.2bR95.2bR43.9b6.6x7.3x3.4x
Sat, 16 Mar 2024R334.7bR92.8bR43.4b7.1x7.7x3.6x
Mon, 12 Feb 2024R321.9bR90.2bR37.9b7.6x8.5x3.6x
Wed, 10 Jan 2024R345.0bR97.6bR39.5b8.7x8.7x3.5x
Fri, 08 Dec 2023R334.5bR97.5bR39.7b8.3x8.4x3.4x
Sun, 05 Nov 2023R311.9bR95.6bR46.2b7.7x6.7x3.3x
Tue, 03 Oct 2023R315.2bR95.4bR46.9b7.8x6.7x3.3x
Thu, 31 Aug 2023R335.3bR94.3bR48.9b8.2x6.9x3.6x
Sat, 29 Jul 2023R330.0bR91.8bR46.2b7.9x7.1x3.6x
Mon, 26 Jun 2023R319.6bR92.5bR47.7b7.8x6.7x3.5x
Wed, 24 May 2023R323.9bR90.4bR50.2b6.5x6.4x3.6x
Fri, 21 Apr 2023R336.7bR88.0bR52.4b6.3x6.4x3.8x
Price to Earnings Ratio

6.4x


Total Market Cap: R336.7bTotal Earnings: R52.4bTotal Revenue: R88.0bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Real Estate Sector Price to Earnings3Y Average 8x202420252026
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 8.0x.
  • The 3-year average PS ratio of 3.8x 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 remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 5.7% 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 Market2.61%
Real Estate3.55%
REITS5.79%
Specialized REITs4.46%
Industrial REITs3.28%
Real Estate2.84%
Retail REITs1.59%
Office REITs1.26%
Residential REITs0%0
Hotel and Resort REITs0%0
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?

CompanyLast Price7D1YValuation
GRT Growthpoint PropertiesR17.286.8%
+R3.7b		42.0%PB0.9x
RDF Redefine PropertiesR6.365.8%
+R2.4b		48.9%PB0.8x
NRP NEPI RockcastleR139.012.4%
+R2.3b		2.7%PE10.3x
FFB Fortress Real Estate InvestmentsR23.284.2%
+R1.1b		21.9%PE8.2x
VKE Vukile Property FundR23.333.8%
+R1.1b		24.2%PB1x

Latest News

SAC
R3.66
SA Real Estate
7D
8.9%
1Y
35.1%
GRT
R17.28
Growthpoint Properties
7D
6.8%
1Y
42.0%
NRP
R139.01
NEPI Rockcastle
7D
2.4%
1Y
2.7%
HYP
R55.66
Hyprop Investments
7D
3.6%
1Y
38.3%
RES
R80.87
Resilient REIT
7D
-0.3%
1Y
43.0%
FFB
R23.28
Fortress Real Estate Investments
7D
4.2%
1Y
21.9%
PPR
R5.86
Putprop
7D
-0.7%
1Y
71.3%
ATT
R17.20
Attacq
7D
5.5%
1Y
32.8%
RDF
R6.36
Redefine Properties
7D
5.8%
1Y
48.9%
VKE
R23.33
Vukile Property Fund
7D
3.8%
1Y
24.2%
TMT
R1.11
Trematon Capital Investments
7D
-3.5%
1Y
-52.8%

Benign Growth For Trematon Capital Investments Limited (JSE:TMT) Underpins Its Share Price

Feb 14
Benign Growth For Trematon Capital Investments Limited (JSE:TMT) Underpins Its Share Price
APF
R0.62
Accelerate Property Fund
7D
-3.1%
1Y
26.5%