The World’s Property Industry Convenes: MIPIM in Review

MIPIM, the world’s leading real estate event, takes place every March in Cannes and is without doubt the most illustrious event on the calendar of property professionals. This year’s event was a four-day gathering that featured over 360 speakers from 100 countries. Over 100 conferences were held to help people network, learn, share and work together to discover what’s next within the property industry. We lay out the key concepts that shone from MIPIM 2017.

The Rise of PropTech

Indeed property technology and innovation, or PropTech, played a more prominent role at MIPIM 2017 than ever before, and this is a trend we can expect to see continuing at future events. Interestingly, it was suggested that many hardware and software developers from outside the property industry have begun to apply their knowledge and experience to develop new tools for use in the property sphere. Artificial intelligence, drones, 3D printing, virtual reality and apps were all on display to show us how homes can become more efficient and can provide better environments in which we can live in the future. Many developers believe that PropTech has been lagging behind other industries when it comes to innovation, so it was refreshing to hear how it may catch up.

Political Positivity

Given the immense political changes that occurred this year in countries such as Britain and America, the central theme for MIPIM 2017 was based on the theme of ‘The New Deal For Real Estate.’ Although many were expecting a pessimistic atmosphere, city leaders based in Southern-, Central- and Eastern Europe were generally upbeat in their outlook. Several actually reported more interest in property investment from America, as people look to spread their assets around the world rather than risk the unpredictability of the Trump administration. Elsewhere, investors largely reported a ‘wait and see’ approach while the dust settles on what has been such a turbulent time, which is good news on the whole.

Invest Wisely

Despite the political unpredictability around the world, there are still some enclaves that remain smart locations to invest in property. Dubai continues its ever-increasing drive to draw people with over $2 billion worth of property on display at MIPIM alone, and London’s strong display indicates that although much of Britain voted for Brexit, the capital is still a welcoming environment with a strong housing market. Buying property in Monaco is also still considered by experts to be a wise investment thanks to an ever-increasing demand and an enticing Mediterranean climate. It is also interesting to note that the Principality offers a relative safe-haven away from the disorder of the rest of Europe, not to mention a selection of some of the world’s most luxurious property. Monaco enjoys the luxury of autonomy compared to its larger neighbours, and with that comes the sort of stability that makes investments attractive. This year, Monaco real estate was identified as the most valuable in the world, making it an attractive investment; $1 million USD will buy approximately 15m² of property.

In summary, investment and innovation within PropTech, combined with a few remaining investment safe havens, mean the international property market should weather the geo-political storm that was the central concern at MIPIM. With careful investment, the new deal for real estate looks like it could be a good one for years to come.