Real Estate News
First-year real estate MBA students recently returned from Cannes, France, March 6-9 after attending MIPIM 2012, the international real estate property and investment convention. This marks the seventh year that the Wisconsin Real Estate Program has sent a delegation to MIPIM. The trip is one dimension of our commitment to global awareness. MIPIM is an amazing opportunity for our students to literally get outside the world of U.S. real estate and see how property markets function in Europe. The students analyzed how the practice of real estate differs due to cultural factors, space limitations, and zoning constraints (i.e. parking ratios, tenant mix of retail, density, etc.). They also had the chance to interact with leaders in real estate and related industries to determine trends, perceptions, operating strategies, and best practices.
As part of their preparation for the trip, students researched the hot topics and big questions that are on everyone's minds. First and foremost is the Greek debt crisis, what is its effect on the Euro-Zone and the overall stability of Europe? Other public policy related questions include: China and fears of a bubble in its property markets, have recent government measures been effective and does interference itself have consequences? And, Solvency II and other ECB banking regulations, will they have an effect on real estate lending? MIPIM is also a great opportunity for students to get a feel for broad real estate trends. MIPIM attracts hundreds of opportunistic real estate investors and, under the same roof, representatives from many of the markets trying to woo real estate capital. It is the ideal environment to identify emerging global trends.
Describing these new trends is the number one goal of the wrap-up keynote address at MIPIM by Dean François Ortalo-Magné. Students assisted the dean by surveying participants at the conference. Dean Ortalo-Magné's wrap-up keynote has been a highlight of MIPIM and MIPIM Asia for some time. To view this year's wrap-ups, visit our blog the Wisconsin Real Estate Viewpoint.
During the conference, our students actively shared the major takeaways from the conference sessions and their experiences and reflections each day, so watch our blog for coverage on this year's MIPIM trip. We also contributed to the official MIPIM blog and reported on Twitter at @UW_GraaskampCtr.