Association News

RHODE ISLAND MARKET TO BE PROMOTED AT MIPIM, THE WORLD’S PROPERTY MARKET CONFERENCE

Rhode Island Association of REALTORS® to Showcase Area Markets at Conference in Cannes, France, March 14-17

(Warwick, RI) – February 28, 2017– MIPIM, the world’s leading global real estate market, business conference and networking event, will welcome the Rhode Island Association of Realtors (RIAR) to its 2017 event in Cannes, France, March 14 through 17. RIAR will be a sponsor of the growing USA pavilion, hosted by the National Association of Realtors (NAR), the United States’ largest real estate trade organization.

Some 23,000 leading real estate executives from 90 countries, including more than 5,300 investors, are expected in Cannes, for the four-day annual gathering of the global real estate industry. The event brings together investors, developers, occupiers, architects, hotel groups, public authorities, city mayors and property associations from around the world.

“We’re eager to take part in MIPIM and look forward to meeting peers and potential clients from across the globe. I have no doubt that MIPIM will help us expand our foot print internationally and introduce Rhode Island and all that it has to offer to the rest of the world,” said Brenda Marchwicki, RIAR President.

For 2017, NAR has expanded its MIPIM exposition footprint to accommodate a growing U.S. presence and to accommodate new partners. The NAR-sponsored USA pavilion provides local and regional U.S. markets the ability to showcase opportunities for foreign investors.

“The U.S. remains among the top-ranked markets for real estate investors,” said Bill Brown, 2017 NAR president, which is comprised of 1.1-million members. “In spite of waning economic growth in many countries and higher home prices further enhanced by a strengthening U.S. dollar, the tremendous appeal U.S. real estate is evident by the fact that foreign buyers purchased $102.6 billion of residential property, representing nearly 215,000 properties, between April 2015 and March 2016.”

On the commercial side, global market instability, Brexit and concerns surrounding China’s economy has made U.S. commercial real estate one of the most attractive investments destinations. “The U.S. is regarded as the safest and most secure in the world, thanks to our strong currency and opportunity for capital appreciation,” said Brown. The most recent AFIRE survey of foreign investors in real estate ranks the U.S. at the number one destination for foreign investment, with three of the top five global cities located in the U.S.

“Rhode Island and neighboring Connecticut and Massachusetts have so much to offer to foreign investors – from beautiful seaside destinations like Newport and Watch Hill to fantastic urban locales steeped in history and conveniently located between New York and Boston – there really is something for everyone at extremely competitive prices.  We’re excited to spread that message at MIPIM,” commented Marchwicki.

Representatives from Rhode Island will join those from the states of Washington, Florida, Illinois, Nevada and Missouri, and the metro areas of Miami, Beverly Hills/Greater Los Angeles, Las Vegas and Scottsdale, Arizona at the renowned property conference. Washington and Rhode Island will be conference sponsors while the others will be exhibitors in the USA Pavilion. The CCIM Institute will also be prominently featured within the pavilion.

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About the Rhode Island Association of REALTORS®

The Rhode Island Association of REALTORS®, one of the largest trade organizations in Rhode Island with nearly 5,000 members in approximately 800 offices, has been serving Rhode Islanders since 1948. Collectively, RI REALTORS® transacted more than $4.5 billion in real estate sales last year. Advocating for Rhode Island’s property owners, the Rhode Island Association of REALTORS® provides a facility for professional development, research and exchange of information among its members and to the public and government for the purpose of preserving the free enterprise system and the right to own real property.

About National Association of REALTORS®

The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association. NAR’s 1.1 million members, including NAR’s institutes, societies and councils, are involved in all aspects of the residential and commercial real estate industries.

About MIPIM

MIPIM, the world’s leading property market, brings together all the key actors of the real estate business. Investors, developers, end-users, architects, hotel groups, public authorities and property associations gather in Cannes for four intensive days of networking, matchmaking and development of international business relations. MIPM has established itself as an essential meeting place for city administrations who attend in order to both promote inward investment opportunities and discuss major key policy issues that urban conglomerations are facing around the world. Learn more at www.mipim.com.