MIPIM Uncovers Hot New Property Markets for the Year

MIPIM Uncovers Hot New Property Markets for the Year

This week sees the staging of the international commercial property conference MIPIM, held every year in the glamorous French Riviera town of Cannes. Millionaire investors and developers converge on the town to hear leading experts' opinions on the best emerging markets and get some new deals in the pipeline.

With an ongoing crisis in much of theEuropean real estate market, this year's conference has so far been a less excessive affair than usual, but nonetheless attendees have emerged with some interesting ideas on where to spend their money this year. An address on Tuesday from US-based investment analysts Real Capital Analytics (RCA) uncovered some interesting new trends in the emerging markets forEuropean real estate in the year to come, reports the Turkish Weekly.

'Fed up with astronomic prices in London and Paris, property investors seeking higher yields are eyeing opportunities in emerging markets, according to the founder and president of U.S.-based researcher Real Capital Analytics, or RCA.

Instead of the famous BRIC countries Brazil, Russia, India and China the CBTPs, namely China, Brazil,Turkey andPoland, are an emerging force in the property sector, Robert M. White told the Hrriyet Daily News & Economic Review on Tuesday at the International Market for Property Professionals, or MIPIM.

"In property, we aren't talking about the BRICs," White said. "Russia has been very problematic regarding investments due to problems such as corruption. India is problematic due to its restrictions on foreign investments. Thus, it's really China, Brazil and Eastern Europe Turkey and Poland in particular that are shining."'

Turkey is no doubt becoming Europe's leading growth market for property, with new developments springing up all over its sprawling coastline and foreign investment pouring in. Prices remain slow to catch up with demand, however, and are probably likely to remain that way until Turkey achieves accession to the EU. Take thisnew build villa in the popular tourist region of Antalya - right next to the water, with thoroughly modern fittings and an infinity pool out the front. In France, Italy or Portugal, one might expect to pay into the millions of euros for a property like this, especially one with four bedrooms. Currently, the property is listed for sale on Eurobrix at 640,000 euros.

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