Investment bankers were out in force at the Mipim property conference in Cannes last week. With the real estate market in such good shape, they could not afford to be anywhere else.

Tony Horrell, chief executive of European capital markets at property group Jones Lang LaSalle, said at the conference: "The world's real estate markets are awash with capital with $5 (€3.8) of investment chasing every $1 of product; we anticipate another strong investment market this year."