Property tourists after "safe havens" seen as bright lights in London economy

As 20,000 property professionals last week descended on Cannes in the French Riviera for the annual party and networking event that is Mipim, the mood among the British contingent had lifted. Lesser known by the world than the Cannes Film Festival, but considered by locals to be the biggest money-spinning event to hit the city, this year the talk was of recovery. While the UK economy languishes in the economic doldrums, discussions along the Croisette, in the city’s grand hotels, the beach side marquees, and the yachts moored in the harbour, were quietly positive. With commercial property investment in London at the highest level last year since the crisis took hold; signs of increased property lending; building momentum in the capital’s tenant market; and hopes that those factors will collectively seep through to the regional markets, there is evidence to suggest that the optimism is not misguided. After a tough start to 2012, the feeling echoed in Cannes was that the strong end to last year has continued, signalling a positive market for the spring and summer months. The emphasis at Mipim has shifted over recent years, away from the drink-fuelled revelry that characterised the days and nights at the event in years gone by, towards more serious business. “Everyone is more focused now. They’re here to do business, and that’s a good t