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Membership Fee from Jan 2020

The details

From January 2020 we will offer three types of membership: Investor Membership, Non-Investor Membership and an Academic Membership. 

We also offer an Introductory Fee to investors for the first two years and a Research Subscription to investors from outside Europe with the same benefits as an Investor Membership but presented differently for administrative purposes. 

Below you can find an overview of the membership fee packages which will come into effect from January 2020.    


From 2021 onward, the membership fee will automatically include inflation indexing, which was not previously the case. By including this now, this means we do not envisage another proposal to restructure the membership fee for the foreseeable future. 


Investor membership is available to all those working in the European non-listed real estate investment industry as investors, qualifying to the INREV investor definition. Investor members have access to all INREV benefits, as well as the right to vote during INREVs Annual General Meeting. In addition, one free seat at the Annual Conference is included in the membership fee, plus a second (invoiced) guaranteed seat.

  • Real Estate AUM <€ 1 billion     The annual membership fee is € 5,000 and inflation linked from 2021 onward. 
  • Real Estate AUM => € 1 billion  The annual membership fee is € 12,500 and inflation linked from 2021 onward.


Non-investor membership is available to all those working in the European non-listed real estate investment industry, including investment banks, investment managers, as well as service providers, such as advisors, agencies, accountants and lawyers. Non-investor members have access to all INREV benefits, as well as the right to vote during INREVs Annual General Meeting. Non-investor members receive one (invoiced) guaranteed seat for the AC.

The annual membership fee is €12,500 and inflation linked from 2021 onward.


Academic membership is available to non-profit research institutions and universities. Academic members have access to many INREV activities and events, as well as other benefits such as participation in committees, but cannot vote during the INREV Annual General Meeting. 

The annual academic membership fee is €500, and inflation linked from 2021.

An Introductory Fee will be made available to investors, according to the INREV investor definition except fund of funds/multi manager or organisations that previously held an INREV membership for the first 24 months. Investors during an introductory fee period are entitled to the same membership benefits as investor members, except for a free seat at the Annual Conference. 

The reduced membership fee is €2,500 annually for the first 24 months, after which the relevant Investor-membership fee applies. 

A Research Subscription is also available for non-Europe based investors. It offers the same member benefits as included in investor-membership and has the same annual subscription fee as the annual membership fee or introduction-membership fee for investors. 


Q. Why has the membership fee been restructured?
A. Since the inception of INREV in 2003, the membership fee has never been increased, absorbing yearly inflation and has not been passed on to members. Member services have increased substantial, and to  continue offering and further improving the products and services that members value, we need to increase our revenue. A number of options have been explored to ensure a robust, futureproof INREV, and a restructure to the membership fee is the most viable route to this meet this objective. 

Q. Will my benefits as a member stay the same as they are now?
A. Yes, in principle they remain the same, except for Investor Members who will receive one fee seat at the Annual Conference. However, an increased revenue stream enabled by restructuring the membership fee will enable INREV to implement plans to increase and improve the suite of products and services currently available to members. For example, the IT roadmap will pave the way to create a more digitally connected and harmonised online platform enabling members to access, submit and use data more efficiently and in a more personalised manner than ever before.  

Q. Did INREV members have a say if the new fee would go ahead? 
Yes, the proposal was put forward to vote at the AGM in April 2019 and they voted in favour of the new proposal. 

Q. When will the new fee come into effect? 
A. The new membership fee will come into effect as per 1 January 2020. There will not be any change this year.  

Q. Is membership available to non-EU investors? 
A. Yes, non-EU investors can apply for INREV membership and will pay the same as EU investors. They can also apply for a Research Subscription, if their accounting processes require them to do so, this subscription offers the same benefits and terms as the Investor Membership. 

Q.Why is there only a reduced fee for smaller investors?
A. INREV always had a flat membership fee, and we want to keep it that way as it reflects our democratic platform.   As an investor led organisation we offer a reduced fee for smaller investors to ensure a strong representation of investors in our committees and events.  We understand there are challenges for small investor to join an association and our proposed new membership fee seeks to address this.  

Introductory Fee 

Q. Will the Introductory fee still be available? 
A. Yes, the introductory fee will still be available for Investors at the reduced rate of €2,500 (excluding a seat at the Annual Conference) for the first two years after which the full membership fee applicable for that investor will be payable (either €5,000 for those with an AUM < €1 billion and €12,500 for those with AUM => €1 billion.

Q. Can non-EU investors also take advantage of this introductory fee?
A. Yes

Q. Can fund of funds/multi-managers members take advantage of the introductory fee?
A. No, the Introductory fee is only available to institutional investors, who join INREV for the first time. 

Annual Conference 

Q. I’m an investor, do I still have a guaranteed seat at the annual conference? 
A. Yes, Investors always had two guaranteed seats at the Annual Conference, which remains unchanged. The difference in the new fee structure, is that one of the guaranteed seats is included in the membership fee. So, two delegates from your company are guaranteed a seat at the annual conference, but only one will need to be paid for. 

Q. I’m a fund manager, do I still have a guaranteed seat at the annual conference?
A. Yes, this remains unchanged. All non-investor type memberships including fund managers include one guaranteed,  invoiced seat at the annual conference. 

Q. Is this free seat also included in the Investor membership available to fund of funds/multi-managers?
A. Yes, the free seat is also available to fund of funds/multi-managers.

Q. Is this free seat also included in the Introduction fee for Investor membership?  
A. No, those Investors who are making use of the Introduction fee will have two guaranteed seats at the Annual Conference, but need to pay for both. 

Q. Can a further increase be expected in the future? 
A. Since we’re also proposing that from 2020 onward that the fee will be inflation indexed (Dutch CPI), a further restructure to the fee is not envisaged for the considerable future.


If you have any questions about the proposed membership fee restructure, please contact Lonneke Löwik, Jeff Rupp, Claudia Kapp or Johlyn da Prato


Why will the membership fee be changed? 

INREV is committed to providing the products and services to its members that are required to help drive their organisations forward and embrace the non-listed landscape of tomorrow and beyond. 

Since its inception in 2003, membership continues to grow but our products and services have increased at an even faster rate and we are faced with increased costs. The good news is that members tell us these products and services are welcomed, utilised and highly recommended.

But by providing these products and services we have eaten into member funds and are forecast to run a deficit in 2019. We realise that this is not financially viable and have consulted various options when considering how to increase the revenue stream to continue what we’re doing and implement plans to increase value for members. But the fact remains that the membership fee is our main stream of income.  

As a non-profit association and considering that the membership fee has never been increased since the start, it becomes clear that a restructure of the membership fee is natural progression and the most viable route to a future-proof INREV. 

How has the new proposal been worked out? 

When laying out the new fee structure, the main priority was to ensure that INREV is accessible to all members, regardless of their size and that all have an equal say and opportunity to shape the future landscape of the non-listed real estate industry within Europe, and that will always remain.

After detailed discussions with members, the Investor Advisory Council, Fund Manager and Fund Manager Advisory Council, the INREV Management Board agreed that the new fee structure should include the following:

  • A market reflective pricing structure that enables all players to join and actively engage with the industry, irrespective of their size or business model, and one that reinforces the democratic nature of INREV where all members are treated with equal opportunity. 
  • As an investor led organisation, we should ensure that investors can attend our main flagship event, the INREV Annual Conference. 
  • A financially robust membership fee able to be implemented without change for the foreseeable future. 

The proposal was put forward for approval by vote at the Annual General Meeting in April 2019 in Venice. It was approved by the members and will come into effect from January 2020. 

View webinar on membership fee restructure

The webinar, led by Lonneke Löwik, INREV CEO and Marieke van Kamp, Chairman and Mike Clarke, member of the INREV Management Board, presents the proposal and provide members with the chance to ask questions.