Total returns for European nonlisted real estate funds hit 2.84 percent in third quarter 2021, up from 2.65 percent in second quarter, according to the latest INREV Quarterly Fund Index. Performance was powered largely by strong capital growth of 2.23 percent, which marks the best result in nearly 15 years.
The INREV pan-European Quarterly Asset Level Index reflected similarly robust performances at an asset level, with a total return of 3.2 percent, which was also driven by an impressive capital growth of 2.30 percent. The latest pan-European results reveal 12-month rolling total returns of 9.8 percent at the asset level and 8.45 percent at the fund level, well ahead of the three-year rolling annualized averages of 7.14 percent and 5.52 percent, respectively.
The results from both indices indicate a strong resurgence in investor confidence toward nonlisted European real estate — after the gradual recovery that was first reported in third quarter 2020, following the
