It’s already March and already time for the real estate world to descend on the South of France for 2023’s Le Marché International des Professionnels de L’immobilier – or MIPIM as it is known to you and me.
Redwood will, once again, be sending a team of intrepid comms professionals to Cannes as we support our network of clients and partners through what is set to be an action-packed week.
Ahead of the event, we have identified key trends for this year’s MIPIM:
THE RETURN OF BIG CROWDS
It is three years since MIPIM was impacted by Covid back in 2020. After a ‘false start’ in 2021, the real estate world finally returned to Cannes last year. However, despite a relatively healthy attendance, numbers were still not close to pre-2020 figures due to continuing Covid concerns and uncertainty over travel restrictions.
Despite some initial fears that MIPIM might lose its crown as the real estate world’s landmark conference, CoStar recently reported a 15% hike in attendees with 23,000 delegates expected to be roaming the Croisette this year. So, expect plenty of packed cafés and bars throughout the week as the great and the good meet once again to do deals, create new partnerships and exchange ideas.
MORE JOURNALIST BRIEFINGS
It is not only delegates who are returning to MIPIM in greater numbers. Real estate journalists will also be descending to Cannes in their droves as they hunt for exclusive news angles.
During the week our clients have meetings with journalists from across the media landscape, from meeting with the Financial Times’ new property correspondent, through to catchups with UK and Pan-European real estate media, as well as regional real estate reporters covering markets including Italy, Spain, Germany, and Sweden.
These meetings are valuable ways to strengthen relationships and share insights into the future of the real estate sector as well as look at trends which will be impacting the market over the next few months.
A RETURN OF CONFIDENCE
MIPIM is always a litmus test for the real estate industry. Last year the mood was positive as we finally moved out of Covid restrictions. The war in Ukraine continues to mute some of that optimism, although many investors and developers still remain upbeat for a strong year of transactions and deals. However, as we now know, the market was turned on its head as a result of other factors globally ranging from high levels of inflation to hikes in interest rates. In the UK, former Prime Minister Liz Truss’ Mini-Budget did little to help the economy’s recovery.
Despite a cautious few months, a relatively calmer market may lead to MIPIM being the spark which kickstarts the real estate world into life. There are few better places than MIPIM for real estate deals to be brokered and delivered.
WILL THE SPRING BUDGET IMPACT THE CONFERENCE?
It is not unusual for MIPIM to coincide with one of the key annual economic announcements in the UK. However, given the fall-out caused by the previous Autumn Statement in 2022, it is likely that many of those attending MIPIM will be waiting with bated breath for Mr Hunt’s announcement on 15 March.
From its impact on the UK property market to in-depth media analysis of the Chancellor’s announcement, The Budget is likely to be a major talking point in the streets and on the beaches of Cannes this year.
The Redwood team wishes all those attending MIPIM a safe journey to Cannes. If you would like to meet up with our team do get in touch with:
