Investing in real estate generates attractive and relatively stable returns in the long term and makes real estate an indispensable part of investors’ allocation models. Bouwinvest ensures a balanced portfolio with an attractive risk/return profile by offering exposure across various funds and mandates with a worldwide spread in predominantly six real estate categories: residential property, retail property, offices, logistics, healthcare property and hotels.

The overall portfolio recorded a total return of -3.8% in 2023, compared with 0.1% in 2022. Between 2019 and 2023, the Funds and mandates managed by Bouwinvest Real Estate Investors had a weighted annual return between -3.8% and 13.2%, which means that in 2023 the total return is at the lowest point of this period. Although economic conditions currently seem to be stabilising, 2023 was marked by rising interest rates, high inflation, high energy prices and an unstable geopolitical situation. This has also affected the real estate markets which have corrected as of Q4 2022 running into 2023. Bouwinvest aims for stable absolute returns and to outperform the relevant indices across the funds and mandates that it manages. See page 29 for results of the real estate portfolio and the relative performance of the funds and mandates.