INREV Market Insights
Published quarterly
Welcome to the INREV Market Insights, a research snapshot aggregating views from the membership to assess the dynamics and business-oriented implications for the non-listed real estate industry. This report draws data from the INREV European indices and surveys, including the Consensus Indicator, Asset Level Index, INREV Fund Index and more.
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Cautious optimism as performance holds positive
- The Netherlands and Spain outperformed other markets, with the total Q2 asset level returns of 2.28% and 2.21%, respectively, a quarter-on-quarter increase for both markets. France and Germany continue to lag behind, reporting significant quarter-on-quarter declines in performance.
- Southern Europe registered the strongest net sentiment, led by Spain (23%) and Italy (17%). Germany and France followed with a positive reading despite weak performance. The recent falls in values reported in both of these markets may be indicative of a possible turning point in the cycle, hence the improving sentiment as investors start to consider re-entering.
- For the first time since September 2024, four out of the five INREV Consensus subindicators registered positive momentum. The Financing subindicator continued to lead, climbing to 67.3, the strongest reading of any subindicator since we started to track the market consensus in March 2023.
In the press
19 Mar 2025 - Real Assets Insights
Real estate markets in Europe remain cautious and, in some areas, sentiment is deteriorating despite further improvements in market performance, according to INREV, the European Association for Investors in Non-listed Real Estate Vehicles.
19 Mar 2025 - Green Street News
INREV says sentiment towards UK, France and Germany has declined
19 Mar 2025 - Institutional Real Estate
The latest INREV Market Insights reveals a mixed picture for European real estate.
11 Dec 2024 - INREV
With a headline reading of 57.8, the latest INREV Consensus Indicator reveals continued signs of recovery for the European non-listed real estate
19 Sep 2024 - Property EU
With a headline reading of 55.8, the latest INREV Consensus Indicator, confirms the much-anticipated recovery for the European non-listed real estate investment market.
19 Jun 2024 - React News
INREV finds performance of non-listed real estate has improved
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