Reporting from MIPIM Day 3:
After watching the U.S. property markets collapse following the financial crisis and negative returns continue into 2010, optimism was surprisingly high in the panel "US Property Markets: Where are the Opportunities?" NAREIM President Stephen Renna led the panel of investment managers to try to answer to the question Where will investment take place in 2011?
The short answer was multifamily properties in core markets. These markets, including Washington DC, New York City, Boston, Los Angeles, San Diego and the Bay Area of California, all command premium rents, have strong employment growth, and high populations of the younger demographic with a higher propensity to rent.
Read the rest of our coverage of the sessions at MIPIM on the Viewpoint. Visit our partner the official MIPIM World blog for video and other exclusive content from Wisconsin.