Overall, MIPIM 2012 was a very successful event boasting 19,300 delegates from 83 countries of which 4,200, were investors. I think we can confidently say that if participants arrived in Cannes with any uncertainty, they definitely left more optimistic. Although we have a ways to go before markets regain stability (“3 years?”), the conclusions presented at the wrap-up conference are very positive.
Overall, the real estate market is still alive and kicking despite its diversity and complexity at the moment. The later half of 2012 should end on a positive note and we should continue to see more stability over the next few years. Although growth will be relatively slow in Europe, and slightly stronger in the US, Asian markets will comparably stronger. In general, the office market will slow down as the focus shifts towards retail and industrial markets.
Cushman and Wakefield‘s report suggested that Germany and Nordic countries will attract low-risk investors, London and Paris will offer good medium-term growth and companies looking for high returns could be in interested in Russia and Turkey, the MIPIM 2013 Country of Honour.
Watch the full wrap-up video.[youtube]http://www.youtube.com/watch?v=xoPMREvSUJI[/youtube]
View the wrap-up presentation.
Image: 360 Medias/ Image & Co.