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Consensus Indicator

Published quarterly

Welcome to the INREV Consensus Indicator, a new diffusion index designed to measure the direction of trends in the European non-listed real estate market. Our goal is to provide the market with timely quarterly insights into the dynamics of current and anticipated conditions in economy, investment, leasing and operations, development, and new lending. Positioned to become the leading indicator for European non-listed real estate.  

About 

The Consensus Indicator comprises a headline and five sub-indicators, summarising whether market conditions are expanding, staying the same, or contracting.  

Ranging from 0 to 100, the Consensus Indicator offers clear interpretations:  

  • a Consensus Indicator exceeding 50 signals growth;
  • a reading of 50 denotes no change;
  • a reading below 50 indicates contraction;
  • the further the results are from the 50 mark, the greater the level of change. 

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INREV Consensus Indicator

Published on 11 Mar 2025

Latest highlights
Columns

Consensus Indicator reveals the first decline in five quarters, reporting 56.7

Key highlights include:

  • All five subindicators declined, with investment liquidity (63.2) and financing (61.3) maintaining the strongest sentiment across the five, despite slight drops.
  • Leasing and operations fell below the 60 mark, while the economic subindicator marked a sharp decline to 44.0.
  • Economic and new development are the only two subindicators to report a reading of under 50, indicating contraction.

For a quarterly overview of what is happening in the evolving non-listed real estate investment industry at a European and at a global level, visit our Market Insights page.  

In the press
20 Sep 2024 - Institutional Real Estate
With a headline reading of 55.8, the latest INREV Consensus Indicator, confirms the much-anticipated recovery for the European non-listed real estate.
18 Sep 2024 - EG
Investors in non-listed real estate across Europe are seeing the start of a recovery, according to the latest figures from INREV.
19 Jun 2024 - Property EU
Iryna Plylypchuk, director of research and market information at INREV, has said its Consensus Indicator suggets the market is close to bottoming out.
19 Jun 2023 - Hotel Analyst
Signs of a European real estate recovery are starting to appear, report INREV. Its latest quarterly sentiment survey shows four of five indicators more positive than in March. Transaction volumes have yet to pick up, and were at EUR33bn for Q1 of 2024.
20 Jun 2024 - The Asset
Market sentiment indicator improves for second straight month
19 Jun 2024 - Property Magazine
The latest INREV Consensus Indicator, designed to capture market sentiment and turning points, showed a second consecutive improvement with a headline reading 53.6.
All press releases