The first release of the INREV Living Fund Index is rich with 25 years of data. It shows a Q3 2025 total return of 1.80%, slightly below the 1.89% recorded a quarter earlier. This release includes 41 vehicles with a combined GAV of €60.4 billion as of Q3 2025.
Key highlights:
- The Dutch-focused funds, representing 57.7% of the Index by GAV, delivered a positive total return of 2.40% in Q3, outperforming the other geographical strategies
- Residential funds delivered a total return of 1.87%. They notably exceeded the student housing-focused funds’ performance of 0.95% in Q3
- Core funds delivered a total return of 1.93% this quarter and outperformed their value-added peers for the fifth consecutive quarter.
View a detailed analysis via the Living Fund Index Analysis Tool or download the report, Excel and snapshots below.
INREV Living Fund Index
Published on 24 Nov 2025
The INREV Living Fund Index is a quarterly index which measures the net asset value performance of commingled European non-listed Living real estate funds targeting institutional investors.