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INREV Market Insights

Published quarterly

Welcome to the INREV Market Insights, a research snapshot aggregating views from the membership to assess the dynamics and business-oriented implications for the non-listed real estate industry. This report draws data from the INREV European indices and surveys, including the Consensus Indicator, Asset Level Index, INREV Fund Index and more.


Market Insights

Published on 19 Sep 2023

Latest highlights

Germany and offices continue to see the sharpest correction in European non-listed real estate performance

  • The Consensus Indicator reported a headline reading of 50.2, a notable improvement from 41.8 in December 2023.
  • The main four markets of the Asset Level Index reported negative returns in Q4 2023. 
  • On the sector front, offices once again witnessed sharp correction across all markets, hitting their weakest quarter since the Index’s inception at -4.53%.
  • On the sentiment front, the UK is again leading in the net positive for the sixth consecutive quarter, while Germany remains firmly in the negative, concurring with the latest weak performance results. 
  • The living sectors remain high in participants’ preference on the net positive sentiment end. Simultaneously, the industrial/logistics sector consistently maintained a positive sentiment, while the retail sector emerged from net neutral sentiment this time around.  
In the press
21 Mar 2024 - funds europe
Despite a slight improvement in sentiment, Europe’s non-listed real estate funds suffered their sixth consecutive quarter of negative capital growth.
17 Jan 2024 - Reuters
Nearly half of investors in Europe plan to cut their real estate allocations, according to a survey by trade body INREV, as a slide in valuations driven by higher borrowing costs and emptier offices continues.

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Last updated on 07 May 2024