Consensus Indicator
Published quarterly
Welcome to the INREV Consensus Indicator, a new diffusion index designed to measure the direction of trends in the European non-listed real estate market. Our goal is to provide the market with timely quarterly insights into the dynamics of current and anticipated conditions in economy, investment, leasing and operations, development, and new lending. Positioned to become the leading indicator for European non-listed real estate.
About
The Consensus Indicator comprises a headline and five sub-indicators, summarising whether market conditions are expanding, staying the same, or contracting.
Ranging from 0 to 100, the Consensus Indicator offers clear interpretations:
- a Consensus Indicator exceeding 50 signals growth;
- a reading of 50 denotes no change;
- a reading below 50 indicates contraction;
- the further the results are from the 50 mark, the greater the level of change.
DOWNLOAD
Consensus Indicator reveals a sharp decline in sentiment
Key highlights include:
- The June INREV Consensus Indicator recorded a headline reading of 41.0, falling 13.8 points from 54.7 in March 2026. This marks the lowest reading since monitoring of the market consensus began in March 2023.
- All five subindicators declined this June, with economic indicators (24.0), new development (29.3) and investment liquidity (36.1) subindicators in contraction territory below the 50 mark.
- The economic subindicator saw the most pronounced decline to 24.0, down from 42.4 in March, with 82% of respondents anticipating weaker European GDP growth over the next 12 months and no respondents expecting an improvement.
For a quarterly overview of what is happening in the evolving non-listed real estate investment industry at a European and global level, visit our Market Insights page.