Moscow real estate beat Paris for the title of Europe's top market in terms of investment appeal and growth potential, according to a survey presented at the 19th edition of the MIPIM international real estate projects exhibition that opened in Cannes on March 11, investor.bg reported.
Rental market’s robust growth and rising supply of residential and retail space have turned the Russian capital into a tempting place for investment, offering a rich gamut of development opportunities, according to a study on the trends in European real estate, conducted by consultancy companies Urban Land Institute (ULI) and PricewaterhouseCoopers.
Last year’s winner, Paris, dropped to fifth with regard to attracting investment perspectives and sixth with respect to development potential. London, which ranked first in previous years, rated 15th in terms of attracting investment perspectives and 13th with respect to development potential.
The survey encompasses 500 representatives of European real estate sector, from 27 markets across Europe. Istanbul comes second in terms of attractiveness, Turkey being called the “Europe’s India.” The third and fourth most promising property spots are Hamburg and Munich, respectively.
Lyon, Stockholm and Helsinki were among the markets appropriate for a property purchase, while Prague and Warsaw were distinguished as markets with growth potential.
More than 28 000 companies are expected in France for MIPIM’s 2008 edition. The expo opened on March 11 and looks destined to break last year’s attendance record before it closes on March 14. UK, France and Germany are the countries with the largest number of exhibitors – 1 700, 1 200 and 700, respectively. Russia is present with more than 500 stands of Russian regions and towns.
