SA REITs soar 46% year to date, outpacing every major global market

• SA REITs surge 46.2% YTD, more than double Australia and four times the US.
• GPR data confirms a structural re-rating, not a short-term rebound.
• Experts say strong fundamentals, disciplined balance sheets and macro tailwinds now drive performance.

South African REITs are in world-class territory and the numbers prove it. The latest Global Property Research (GPR) data shows South Africa’s listed property sector up 46.2% year-to-date, the strongest performance of any major global real estate market.

To put this into perspective:

• South Africa: 46.2%
• Australia: 22.9%
• UK: 10.3%
• USA: 9.2%
• Global REIT Index: 12.0%

With a 9.7% gain in November alone, the South African REIT sector is not just recovering, it is leading the global pack.

A structural shift, not a spike

‍GPR’s November Market Update makes it clear: this performance is structural, representing a multi-year re-rating of the sector. South African REITs delivered 44.7% over one year, 20.6% annualised over three years, and 23.6% annualised over five years. Global peers lag significantly, with the five-year global average at 7.3%, the UK at -0.3%, and Europe at 1.9%.

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“This is the dividend of discipline,” says Joanne Solomon, CEO of the SA REIT Association. “Management teams strengthened balance sheets, stabilised earnings and streamlined portfolios during the toughest economic period in decades. The market is now pricing in that operational excellence.”

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High returns without high risk

‍One of the strongest insights from the GPR dataset is South Africa’s volatility rating of 0.20, completely in line with developed markets such as France (0.20) and Europe (0.18).

In other words, South African REITs are delivering: High alpha returns, with beta volatility.

That combination, exceptional growth without excessive risk is the holy grail for institutional and private investors.

Independent property analyst Keillen Ndlovu, who has managed one of South Africa’s largest and best-performing listed property funds, describes this as “a rare alignment of fundamentals, pricing, and macro tailwinds that is rewriting global perceptions of South African listed real estate.”

Macro winds turning positive

‍South Africa’s momentum is supported by several broader shifts:

• Removal from the FATF grey list
• A credit outlook upgrade from S&P
• Positive sentiment after South Africa’s successful G20 participation
• Inclusion in the Global Real Estate Alliance, representing 28 countries

These developments matter: they drive confidence, attract flows, and amplify the perception of stability and reform.

From resilience to traction

‍The next major sector milestone is the SA REIT Conference on 12 February 2026 in Johannesburg, where the industry will unpack the data, global trends and 2026 outlook. International heavyweight Peter Verwer, a founding member of the Global Real Estate Alliance, will deliver the keynote.

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“2024 was about resilience; 2026 is about traction,” Solomon adds. “Investor interest is surging and the conference demand shows it.”

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South African REITs are not just outperforming they are redefining themselves on the global stage. With disciplined management, stable volatility, improving macro conditions and rising international recognition, the sector is signalling sustained strength rather than cyclical luck.

DOWNLOAD the full GPR/SA REIT Chart Book here https://sareit.co.za/sareit-research/#chartbooks

REGISTER now for the SA REIT Conference 2026 (12 Feb, Johannesburg) - limited seats remain https://sareit.co.za/events/

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