MIPIM 2012: Insights from participants Prof. François Ortalo‐Magné Albert O. Nicholas Dean Wisconsin School of Business
How is your business activity this quarter compared to same quarter last year?
Worse
Same
Better
11%
41%
49%
A new paradigm for real estate investment? Why • Tedious transition • High stakes • The crisis
How • Transparency • Control • Alignment • Trust
What • Core: • Fixed income • Relative to financial assets
• Non Core: • Alternative
Has uncertainty about the fate of the Euro affected your activity?
No
Yes
45%
55%
Is the state of debt markets an impediment to your activity or an opportunity to make profits?
Opportunity
Impediment
48%
53%
Is now the time to invest beyond core/safe real estate assets? 2012
2011
29%
No 30%
71%
Yes 70%
Proactive and competitive cities Low Risk • Fiscal responsibility • Social responsibility • Local DNA
Spillovers • Infrastructure • Catalysts • Cultural change
Concerns •Who pays? •National framework •Elections
What do you consider the biggest impediment to investment in your city or region? Global economic conditions
37%
Competition from other cities
28%
Local economic fundamentals
Political climate
23%
13%
What competitive advantage did you emphasize here at MIPIM to make your city attractive to investors? Location
34%
New vision
20%
High‐tech base
16%
Infrastructure
16%
Growth
14%
How has MIPIM changed your outlook?
Less Optimistic
Same
More Optimistic
3%
43%
54%
What is your perspective on your real estate market compared to same time last year?
Less Optimistic
Same
More Optimistic
15%
35%
50%
Are you planning to hire this year?
No
Yes
36%
64%
Survey conducted by The Wisconsin Real Estate MBA Class of 2013 With the support of Prof. Erwan Quintin