The latest INREV Consensus Indicator, designed to capture market sentiment and turning points, showed a second consecutive improvement with a headline reading of 53.6. This is a notable increase from the 50.2 reported in March 2024 and suggests that the European non-listed real estate market may be close to the start of a recovery. Four of the five sub indicators now exceed 50, with the economic sub indicator increasing to 56.1. New development was the only exception at 48.9.
All five sub indicators improved since March, except leasing and operations, which declined from 60.2 in March to 58.9 in June. This decline is attributable to a slight retraction in the growth of effective rents and occupancy rates. Despite the decline, leasing and operations remains the strongest sub indicator, but the figures highlight the growing bifurcation in the occupier markets, The lat
