March 18, 2013
Get a feel for the world real estate market in the annual MIPIM wrap-up, as Francois Ortalo-Magné and Dr. Mahdi Mokrane sum up the week's events with hard facts and figures.
Dr. Mahdi Mokrane, Head Of Research & Strategy at AEW Europe and François Ortalo-Magné, Albert O. Nicholas Dean at the Wisconsin School of Business, brought MIPIM 2013 to a close with the “MIPIM Wrap-Up: Painting the Big Picture”. A seasoned MIPIM Wrap-Up host, Francois Ortalo Magné remarked that last year the buzz phrase was cautious optimism. This year he said, it’s more like “beyond cautious.”
Mahdi Mokrane reported on the economic foothold by region. He pointed out that due to a stengthening US employment, expected to reach pre-recession levels by end of 2014, the US market is rather solid and the GDP is expected to be above growth by end of the year. In Asia, we can expect the office market supply outlook to remain below long-term averages from 2013 to 2016, however the region will stay strong with economic acceleration in Hong Kong, Singapore, Korea, and Taiwan. Lastly, Europe clearly has a more unpredictable future. Real estate strength currently seems to be strongest in Germany, followed by UK, then France and the Nordics. That being said, France is crucial in determining the direction for the entire region.
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MIPIM 2013 Wrap-Up: Insights from participants by Wisconsin University