MIPIM 2013 – first impressions?

So what is the vibe on Day 1? Numerous conversations during yesterday evening and this morning suggest that there is a definite mood of (sensibly cautious) optimism.

No-one is talking about “recovery” or a return to a property market which looks like it did pre-2008 but most people are telling me more or less the same thing: there is an uptick in activity. Nothing which is going to give Chancellor George the growth boost he needs so badly in advance of the 2015 election campaign but, nonetheless, a “pulse” where last year the talk was of the vital signs being pretty well indiscernible.

The talk is now about the “new normal”. And this flickering pulse is the start of the new normal. That low turnover of activity is how it has to start, the fight to get the work and deliver it for the price the market demands cannot be underestimated, but at least there are jobs to bid.

So, a tiny light at the end of a long, long tunnel?

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