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Q4 2023, second weakest index performance since inception

The Q4 2023 European ODCE Index delivered a -4.28% return, the second weakest performance since inception.

Key highlights:

  • The capital growth of –5.05% dropped by 200 bps compared to Q3 2023.   
  • At the end of Q4 2023, the GAV of the index stood at €41.8 billion across the 16 participating funds, €0.8 billion below the previous quarter.
  • The share of the residential assets continues to grow, reaching 15.7% of the index total GAV at the end of Q4 2023.
  • The net capital flows stood at €280 million at the index level. This represents a major increase compared to the €180 million equivalent posted in Q3 2023.

Download the report, Excel, snapshot and the ODCE Management Fees and Terms report below.

European ODCE Quarterly Index  

Published on 21 May 2025