A visit to the MIPIM Real Estate Conference in Cannes last month saw EY Executive Director, Peter Miller, leave with a strong sense of optimism for the real estate industry.
MIPIM, which attracts over 20,000 delegates every year, is the world’s leading real estate conference. It provides an opportunity for all elements of the industry, from investors to financiers to interior designers, to gather and meet at one time. Many of the exhibitors are countries or cities from around the world looking to promote inwards investment into their locations.
London and the Eurozone area were major themes at this year’s conference with most investors feeling that prices in the UK capital are sustainable whilst expecting a rise in investment into Europe. Behind much of the optimism was a feeling that finance is becoming progressively easier to access.
Supporting the growing sense of confidence in the Eurozone, investment in Spain, a country that was hit particularly hard by the recession, is looking more positive and the issue of a Spanish REIT (Real Estate Investment Trust) is confirmation that the outlook for Spain is improving.
“MIPIM really is the must attend event for the real estate industry,” said Peter Miller. “It provides an opportunity to catch up with existing contacts as well as creating new relationships in a focused environment. Everyone attending the conference has travelled to MIPIM with the view to discuss real estate and new business opportunities. It is also a good opportunity to introduce our local clients to our EY real estate colleagues from around the globe, widening their network and in some cases creating opportunities.
“There really is no other event quite like MIPIM, which lies at the heart of the real estate industry. The insight into the industry’s developments and emerging opportunities are useful both to clients locally and EY.”