The INREV Quarterly Fund Index delivered a 1.04% return in Q1. This is slightly down on the 1.33% Q4 performance, albeit the capital growth increased further to 0.56%, from 0.13% in Q4.
The Q1 2025 release includes 313 funds with a combined GAV of €300.0 billion. This quarter’s release covers the largest sample at the time of the release since the Q2 2022 publication.
Key highlights:
- Core funds outperformed value added funds with a Q1 total return of 1.05% and 0.78%, respectively
- Residential funds delivered the strongest returns among single sector specialists, with 1.74%, followed by industrial / logistics (1.38%). The office funds’ performance turned negative this quarter, with a -1.43% total return
- Dutch and UK-focused funds continued to outperform the other geographies, with 2.02% and 1.21%, respectively. At 0.09%, the Germany-focused funds turned positive after two quarters of negative performance.
View detailed analysis via the Index Analysis Tool or download the report, Excel and snapshots below.
INREV Quarterly Index
Published on 18 Feb 2025
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.