Last year, confidence in a quick recovery for property was destroyed when, the weekend before MIPIM, Bear Stearns collapsed. The conference took on a gloomy outlook, in spite of the sunshine.
This year, the weekend before the conference starts, the government took action to try to cure the ills of the banking sector through its asset protection scheme. This follows a period of gloom, with REIT share prices in the gutter and banks pulling back from property. Will we see a reverse in this year's conference, with people finally starting to believe it when they say now is a buying opportunity? The weather in Lille on the train down is grey skies and cold. Let's hope the sun is out in Cannes.
This year, the weekend before the conference starts, the government took action to try to cure the ills of the banking sector through its asset protection scheme. This follows a period of gloom, with REIT share prices in the gutter and banks pulling back from property. Will we see a reverse in this year's conference, with people finally starting to believe it when they say now is a buying opportunity? The weather in Lille on the train down is grey skies and cold. Let's hope the sun is out in Cannes.
