Commercial Property News
MIPIM week sees slight upturn in numbers from last year.
The property world has been gathering in slightly increased numbers in Cannes over the weekend for this weeks MIPIM, which officially starts on Tuesday. This year's event will see a particular focus on two markets, Russia and Poland.
But the energy in the market is still weak as transactional volumes in all markets are low, with repricing still incomplete. Stock is starting to come to the market, in leading city markets such as London, Paris, and Amsterdam.
There is increased interest in super-prime investment property, but there is insufficient spread, at present, in pricing between the prime and secondary markets which means that for secondary properties to move yields must increase.
MIPIM of course stands for Massive International Party In the Mediteranean, and this year one group are cycling there from London, they will be met by London Mayor Boris Johnson, who never likes to miss a party.
Mon, 15th Mar 2010