Real Estate
Property Elite Head to Cannes Without Much to Celebrate
- As Mipim conference starts, many executives will be absent
- Rising interest rates have set off a period of upheaval
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As real estate’s great and good gather in Cannes for Europe’s biggest annual property event, there are a growing number of notable absences.
The end of the easy money era has pummeled property investing, upending business models that relied for years on cheap and plentiful debt. Now many executives who hit the jackpot in the boom years have departed as the market hits a bust.