Pan-European asset level performance continues to correct in Q3 2023

The INREV Pan-European Quarterly Asset Level Index recorded a total return of -0.39% in Q3 2023 

The -0.39% total return registered in Q3 2023 was driven by a negative capital growth of -1.39%. This is the fifth consecutive negative quarterly performance in a row, albeit getting closer to the positive mark with a +46 bps increase from Q2 2023.  

Total returns remained negative for all main countries of the index, with the Netherlands leading the returns at -0.12%, followed by the UK at -0.29%, both influenced by their industrial/logistics portfolio. Notably, German and French assets corrected the most this quarter, and registered the lowest returns at -1.08%(+80 bps q-on-q) and -1.40% (-39 bps), respectively.  

Office assets remain in strong negative territory at -2.13% (+75 bps), affecting mostly French and German country returns. The other main sectors posted returns close to, or slightly above, the positive mark this quarter. Industrial/logistics assets had the strongest returns at 0.81%, their highest point since Q2 2022, followed by retail assets, also in the positive at 0.22%. Residential assets posted a negative performance of -0.56%, an improvement of 82 bps from Q2 2023. 

INREV is calling for members to join this important initiative.  

If you would like to join, 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. 

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