European non-listed real estate reports significant downturn in performance in response to weaker market environment

The European Association for Investors in Non-listed Real Estate Vehicles Quarterly Fund Index Fourth Quarter 2022 reveals a significant downturn in performance, as real estate prices adjust to reflect the weaker economic environment.

Capital growth fell sharply to -7.24 percent, a quarter-on-quarter decline of -523 bps, the lowest level recorded since the global financial crisis (GFC).

European non-listed real estate delivered a total return of -6.19 percent in the fourth quarter. The speed of correction has been abrupt and synchronized across markets, although levels of decline vary from one geography to another.

UK leads the correction once again

With -11.96 percent, the United Kingdom displayed the weakest total return for the second consecutive quarter, bringing the total correction since second quarter 2022 to -16.21 percent. The Netherlands and France also registered notably weaker fourth quarter performances at -5.36 percent and -