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Asia Pacific investors become primary source of capital for real estate globally 

19 April 2023, Amsterdam – In 2022, capital raising activity remained strong despite the uncertain market conditions, with €246 billion of new capital raised for investment in non-listed real estate globally. The Capital Raising Survey 2023, published today by ANREV, INREV and NCREIF, reveals only an €8 billion decline from the capital raised in 2021, when a record high €254 billion was raised following the height of the Covid-19 pandemic. This resilience comes in the face of sharp market deterioration...

Global study from INREV, PRI and ULI helps real estate navigate through growing myriad of ESG regulations and reporting standards

Wednesday 12 April. A ground-breaking global study by a partnership of industry bodies has mapped out the evolving landscape for global ESG regulations and reporting standards relevant for real estate. Their report provides the industry with a practical guide on how to navigate the myriad of ESG regulations, standards and certifications. Mapping ESG: A Landscape Review of Certifications, Reporting Frameworks and Practices was led by the European Association for Investors in Non-Listed Real Estate Vehicles (INREV), the Principles for Responsible...

European non-listed real estate reports significant downturn in performance in response to weaker market environment

Capital growth falls to lowest level since the global financial crisis 15 March 2023, Amsterdam – The INREV Quarterly Fund Index Q4 2022 reveals a significant downturn in performance, as real estate prices adjust to reflect the weaker economic environment. Capital growth fell sharply to -7.24%, a quarter-on-quarter decline of -523 bps, the lowest level recorded since the global financial crisis (GFC). European non-listed real estate delivered a total return of -6.19% in the fourth quarter. The speed of correction...

European investors plan to decrease allocations to real estate

18 January 2023, Amsterdam – With uncertainty surrounding investment decisions across every asset class, almost one quarter of all investors plan to decrease their allocations to real estate globally between 2023 and 2024. This is barely offset by the 27% of investors globally that are planning to increase allocations over the same period, revealing a muted outlook for the industry. According to the 2023 Investment Intentions Survey published today by ANREV, INREV and PREA, European investors are the most cautious...

Sharp correction for European non-listed real estate performance in Q3 2022

Performance falls to lowest quarterly level since the Global Financial Crisis 14 December 2022, Amsterdam – The INREV Quarterly Fund Index has revealed a sharp correction in performance for the European non-listed real estate market in Q3 2022. Total return fell to -1.60% dramatically down from the 2.61% recorded in the previous quarter, marking the lowest quarterly performance since Q2 2009, when the impact of the Global Financial Crisis (GFC) was in full effect. European non-listed real estate performance in...

European non-listed real estate debt market grows steadily, led by the UK

26 October 2022, Amsterdam – According to the 2022 INREV Debt Vehicles Universe study, the European non-listed real estate market has grown steadily to 98 vehicles with a total target equity of €60.3billion . Over the last seven years, vehicles in the Universe have more than doubled in number and size. The UK, Europe’s most developed non-listed real estate debt market, is leading this evolution. A fact that’s supported by Bayes Business School’s recently published Commercial Real Estate Lending Report...

Funds with multi country and/or multi sector strategies show highest total global expense ratios

19 October 2022, Amsterdam – According to the INREV Management Fees & Terms Study 2022, published today, the average total global expense ratio (TGER) for European non-listed real estate funds based on gross asset value (GAV) was 0.95%. However, there is considerable variation based on key fund characteristics. Funds with a multi-country and/or multi-sector strategy command higher TGERs than those focused on a single country or sector. No doubt the increased operational costs associated with managing assets in different jurisdictions and across sectors account for a large part of the differential.

Mounting risks prompt slowing of European non-listed real estate performance in Q2 2022

Market performance and capital growth slowed in Q2, but remained in positive territory 16 September 2022, Amsterdam – The INREV Pan-European Quarterly Asset Level Index has revealed a decline in performance for the European non-listed real estate market in Q2 2022. Delivering a total return of 2.69%, performance was significantly lower than the previous quarter when total returns amounted to 4.01%. The decline in performance comes as a result of reduced levels of capital growth in the quarter, falling to 1.86% from the 3.15% delivered in Q1 2022. Although remaining in positive territory, this rapid slowdown reflects an equally sharp decline in sentiment and hesitancy among investors and managers as risks mount. Rising interest rates, high inflation, and the energy crisis as the war in Ukraine continues, are just some of the risks market players are currently concerned about.

European real estate funds set to release €9.6 billion of assets over next three years

34 funds expect to terminate between 2022 and 2024 Liquidation replaces extension as preferred termination option 30 August 2022, Amsterdam – According to the INREV Funds Termination Study 2022, 34 European closed end, non-listed real estate funds will terminate between 2022 and 2024. As a result, €9.61 billion of gross asset value (GAV) could be pumped back into the market. This compares with just over €10 billion identified for 2021 to 2023, in last year’s study. By 2031, 90 funds...