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Global real estate AUM reaches €3.9* trillion

Total global real estate assets under management (AUM) reached the second highest level at the end of 2022, according to the Fund Manager Survey 2023, published today by ANREV, INREV and NCREIF. 

At the end of 2021, the total global real estate AUM reached €3.9* trillion, following last year’s record of € 4.1 trillion. At least in part, this is down to a significant amount of consolidation and merger and acquisition activity, further supported by high levels of capital raising activity.

Key highlights include:

  • Concentration of assets in the upper quartile continues. The 29 fund managers in the upper quartile accumulate around 80%* of the total global real estate AUM.
  • Top 10 RE managers reported a total of € 1.8 trillion AUM, a 7.7%* increase on the €1.7 trillion equivalent at the end of 2021.


The Fund Manager Survey explores the real estate assets under management, providing insights into regional composition and vehicle types. It uses the Global AUM definition as agreed by ANREV, INREV and NCREIF and PREA. 

Download the full report, snapshot, chartbook and excels below or view our latest press release.

*Correction notice 26 May: since publication, this number has changed.

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