European asset level performance continues correction in Q1 2023

The INREV Pan-European Quarterly Asset Level Index recorded a total return of -1.38% in Q1 2023. 

Key highlights include:

• The -1.38% total return registered in Q1 2023 was driven by a negative capital growth of -2.35%. This is a third negative quarterly performance in a row, but 463 bps higher than the -6.01% reported in Q4 2022.
• Total returns remain negative for all four main geographies, although the UK showed early signs of recovery and delivered a performance close to the positive mark at -0.02%. Continental Europe continued correction with signs of improvement quarter-on-quarter from Q4 2022. German assets posted a total return of -1.13% (+293 bps), followed by French and Dutch assets at -1.55% (+264 bps) and -3.62% (+175 bps), respectively.
• Pan-European industrial/logistic assets bounced back to -0.93% from their record-low -11.26% performance of Q4 2022. Retail assets performed the best out of the main four sectors for the second quarter in a row, turning positive at 0.78%, while office assets (-1.73%) and residential assets (-3.39%) also showed signs of correction.

INREV is calling for members to join this important initiative.

If you would like to schedule a demo of the Asset Level Index Analysis tool or have questions about this index, contact Connor van Leeuwen or visit the Asset Level Index page.

Download the pdf and excels below.