Looking back on MIPIM 2016, it was definitely the busiest MIPIM that I have personally attended, with many saying that the buzz was reminiscent of pre-recession 2006. With that there was also a feeling of caution in the air as we all know that great highs are often followed by great lows. Especially considering that big questions such as Brexit and the state of the Chinese economy are looming over us. From RISE this year it was owners Bob White and Gareth Stapleton, myself a seasoned MIPIM attendee and two MIPIM “virgins”; Director Scott Robertson and Principal Andrew Link. The trends that we noticed at this year’s MIPIM are as follows:
- Brexit is the big question mark in the property industry. With the growth of the London and UK property industry relying so heavily on oversea investment, the general consensus is that leaving Europe would be disastrous for the British property industry.
- For the first time (to my knowledge) the budget announcement coincided with MIPIM. This caused several delegates to make an impromptu return to London to close out commercial deal to avoid the increase in stamp duty land tax
- London weakens. Investment in London is declining with a growing focus on other UK and European cities, particularly German cities.
- Gone are the days when the only ladies attending MIPIM were the hired hostesses enticing delegates at the conference. I have not been able to check the statistics, but I am pretty sure that this must be the highest proportion of ladies at MIPIM yet. With women events hosted by Women in Property, MIPIM Ladies, Pramerica and Chicks with Bricks, the future of MIPIM may just be pink. One delegate, piqued by the sight of a gaggle (excuse the choice of word feminists!) of floral clad, red lipstick wearing, rosè sipping ladies taking over a large section of New York New York one delegate asked us why there shouldn’t be an event called MIPIM men. Well, until not long ago MIPIM was MIPIM men, but that is all set to change.
- Our very own Andrew Link created a running club so each morning we could work off the croissants and blow away the cobwebs with a run along the Croisette. I personally attended only one of these running sessions. Nonetheless the event was well attended (minus Friday morning!) and we were in good company, as we noticed many delegates outside our running group also running off the indulgences of the previous evening.
- The coldest and wettest MIPIM I have ever witnessed (I hear that 2013 was even worse!). Cannes in the rain is not fun. Very reminiscent of Blackpool or Scarborough I would say….