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'Institutional Investment in European PRS: Strategies, barriers and pathways to supply' is the fourth paper in INREV’s research series on the European intermediary private rented sector (PRS). By considering institutional investors’ strategic objectives and how they may be aligned with public policy ambitions, the paper identifies the conditions under which different types of institutional capital can most effectively contribute to solving Europe’s housing supply crisis.
Key highlights:
- The establishment of the European Housing Alliance recognises the need for proactive engagement, continuous dialogue, and adaptive strategies.
- Policy uncertainty emerges as a primary risk and extends beyond rent regulation to any policy that impacts on income or cost.
- Fiduciary duty of investors and managers – and the consequences of failing to meet future pension obligations – is often not fully understood by policymakers and other stakeholders.
- Rotation of capital through the development lifecycle is critical. The paper explores how policy frameworks can be employed to harness and accelerate housing delivery and, conversely, how policy risk can extinguish long-term viability and deter investment.
- Even in stabilised assets, policy risk is significant if the gap between affordable and market rents widens unpredictably. Any policy revisions should explicitly consider the impact on institutional capital and its ability to support housing delivery.
Given the scale of the European housing crisis, INREV’s series of residential papers are publicly available to help raise awareness and transparency in the search for a solution.
In the press
04 Mar 2026 - CRE Media Europe
A new study by INREV reveals that a lack of predictable government policies is hindering large institutional investors, like pension funds, from investing more capital into Europe's residential property market, despite a strong desire to do so.
05 Mar 2026 - Property NL
De huidige woningcrisis in Europa zou aanzienlijk verlicht kunnen worden als er beter samengewerkt wordt door institutionele beleggers, beleidsmakers en planologen en als er meer beleidszekerheid en een meer positieve politieke visie op de lange termijn is. Dit blijkt uit nieuw onderzoek van INREV, het platform van Europese niet-beursgenoteerde vastgoedfondsen.
04 Mar 2026 - INREV
Europe’s current housing crisis could be significantly eased through a combination of stronger strategic partnerships between institutional investors such as pension funds and insurers, policymakers and planning authorities, greater policy certainty, and a longer-term political outlook, according to new research from INREV.
11 Mar 2025 - funds europe
Despite the political and economic uncertainties of 2025 prompting institutional investors to reassess their strategies and portfolios, appetite for the European residential sector has never been stronger.
01 May 2024 - Institutional Real Estate
Europe's cities are in the midst of a housing crisis. With growing levels of unmet housing demand, there is a pressing need for a multidecade policy response to expand new supply.
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