I have visited MIPIM since 1996 and haven’t missed a single year. During my visits to Cannes I have learned how to observe the market trends of the real estate sector and how it genuinely gives you a good feeling where we are in the business cycle.
MIPIM 2018 was active and positive. Plenty of money around and investment teams saw many new opportunities presented to the market. Price expectations are high but attractive alternatives are few. All this guarantees that the transaction volume stays high.
When walking on the Croisette and comparing 2018 to hot years 2007 – 2008 it seems that we are not there yet. In 2008 the Bay was full off big yachts and parties were overwhelming. Those days banks gave financing up to 90% or more. Today the leverage is moderate, maybe this is one of the reasons that MIPIM 2018 was active, positive but moderate. Let’s enjoy!
Aarne Nurminen
CEO
