Members of the Scottsdale Area Association of REALTORS®, a local association of the Arizona Association of REALTORS®, attended Le marché international des professionnels de l’immobilier (MIPIM) in Paris, France from March 15-18. MIPIM is the world’s leading real estate investment trade show, and brings together the most influential real estate investors from all international property sectors – office, residential, retail, healthcare, sport, logistics and industrial. A key takeaway that Scottsdale REALTORS® learned was that many foreign investors are expressing a very positive outlook on the U.S. and Arizona Market.
The four-day expo, which hosted 89 countries with more than 21,000 individual participants, awarded Scottsdale REALTORS® an opportunity to attend panels and more than 100 industry specific conferences to gain insight from a global market perspective. The group returned to Arizona with a wealth of information learned from a diverse selection of industries. A handful of these major insights include:
- Total dollar amount spent by foreign investors in U.S. real estate is projected to be higher in 2016 than previous years (even exceeding 2007, which was the height of Arizona’s real estate market
- 64 percent of current foreign investors plan to increase their U.S. property investments in 2016
- Many potential investors were surprised about the scale of Arizona and Phoenix – geographic size, population numbers, number of companies
- International investors seemed concerned about their current markets they are invested in; many saw the U.S. as a more stable place for investment
- A few countries that stood out as having investors with a big interest in the U.S. for international investment were China, Turkey, Belgium and Palestine
“Attending MIPIM was an amazing opportunity for me and my colleagues,” said Suzanne Brown, Director of Community & Government Affairs of the Scottsdale Area Association of REALTORS®. “The size and stability of the Arizona market surprised a great deal of international investors, and we were able to engage discussions regarding investment in our state.”
During the expo Arizona REALTORS® were also able to leverage interest in the Arizona market, presenting high-level investment opportunity projects in the business, commercial and residential sectors. 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 such as residential, commercial, property management, land, appraisal and relocation. To learn more, visit aaronline.com.
About the Arizona Association of REALTORS®
The Arizona Association of REALTORS® represents more than 40,000 Arizona REALTORS® 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, AAR is dedicated to the protection of private property rights for all Arizonans.
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