European asset level performance turns negative in Q3 2022 as capital growth plummets 

The INREV Pan-European Quarterly Asset Level Index recorded a total return of -1.71% in Q3 2022

• The -1.71% total return registered in Q3 2022 was driven by a negative capital growth of -2.53%. This is the weakest quarterly performance since the inception of the Index and 440 bps lower than the 2.75% reported in Q2 2022.
• Total returns turn negative for all four main geographies, although the Netherlands delivered the strongest performance this quarter at -0.67%. Germany comes in second, with a total return of -1.38%, closely followed by the French assets with -1.39%, all reporting notable quarter-on-quarter declines. The UK reveals the strongest decline in performance, with a Q3 total return of -4.79%, its lowest quarterly performance since the inception of the Index in Q1 2014.
• With -4.06% total return, industrial/logistics assets plunged as the least performing sector in Q3 (an 827 bps q-o-q decline). Residential assets climb up in first position (-0.18%), followed by retail assets (-0.32%), while offices posted a total return of -1.41% this quarter.

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