Members of the Arizona Association of REALTORSÒ (Arizona REALTORSÒ) recently returned from the 2017 Marché International des Professionnels d’Immobilier (MIPIM) in Cannes, France. MIPIM is the world’s leading real estate investment trade show, and brings together influential real estate professionals from all industry sectors for networking, education and transactions.
Among the 24,000 attendees from more than 100 countries, Arizona REALTORSÒ 2017 President Paula Monthofer and 2016 President Paula Serven represented the organization to increase awareness of the state real estate market to a global audience. The convention allowed REALTORS® to generate interest in Arizona, presenting potential project opportunities in both commercial and residential sectors.
MIPIM offered attendees the opportunity to hear from more than 360 keynote speakers and gain perspective on the global market from 3,000 exhibiting organizations. Key takeaways from MIPIM included:
- According to Cushman & Wakefield, the United States is the leading target for investors, followed by China and the United Kingdom
- European developers are attracted to Arizona, specifically due to its relatively low development costs and abundant sunshine
- The U.S. is home to a recovering and thriving market for real estate developments and was ranked #1 for safe and secure investments and as the best opportunity for capital appreciation by members of the Association of Foreign Investors in Real Estate in 2016
- Five states accounted for 51 percent of total residential property purchases by foreigners; Arizona, California, Florida, New York and Texas
“With over 300 days of sunshine a year, and an attractive economy for businesses, Arizona offers a smart and under tapped investment for global developers,” said Monthofer.
Members of the Arizona REALTORS® are licensed real estate professionals who hold themselves to the highest standards of preparedness and ethics. The organization includes professionals from all areas of real estate including residential, commercial, property management, appraisal and relocation. To learn more, visit aaronline.com.
About Arizona REALTORS®
The Arizona Association of REALTORS® (Arizona REALTORS®) represents more than 45,000 members who hold active real estate licenses and subscribe to a strict Code of Ethics and Standards of Practice established by the National Association of REALTORS®. In addition to providing a number of member benefits and services including risk management, education and a legislative voice, Arizona REALTORS® is dedicated to the protection of private property rights for all Arizonans.