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Early signs of COVID-19 in non-listed real estate

The All Funds Index total return eased to 0.22% in the first quarter 2020 down from 1.80% recorded in the previous quarter, according to the results of the INREV Quarterly Index Q1 2020. 

Key highlights of INREV Quarterly Index Q1 2020:

  • The Q1 2020 data collection was accompanied by a questionnaire on the impact of COVID-19 on valuations.   
  • The majority of respondents to the questionnaire indicate that a large part of their real estate portfolios were valued under the “Material Uncertainty” clause 
  • The Q1 2020 is the weakest quarter since 2012, displaying a 0.22% quarterly return 
  • Core outperformed value added with returns of 0.28% versus -0.73%, respectively 
  • UK focused funds performance worsen further, posting -2.46% over Q1 2020 

View detailed analysis via the Index Analysis Tool or download the report, Excel and snapshots below.


INREV Quarterly Index  

Published on 26 May 2020

The INREV Index is a performance index for European non-listed real estate funds investing 90% or more in Europe. The information for the quarterly goes back to Q2 2000. The Quarterly Index is published 8 weeks after the end of the quarter, and reports are available in PDF format. The reports cover the performance of non-listed funds in Euro, USD, GBP, JPY, AUD and in Local Currency and are available for members only, please login to download.