EXPO REAL 'higher quality' as attendance drops 15%

The 12th edition of the EXPO REAL property fair in Munich registered a 15% decline in both visitor and exhibitor numbers, the organising firm Messe München announced on Wednesday.

The fair, held from 5-7 October, attracted around 21,000 visitors from 73 countries compared to 24,800 visitors from 78 countries last year. The 2008 figure was up about 700 on the 2007 level despite the onset of the credit crisis.

This year, the top 10 countries in terms of visitor origin were, after Germany, the UK, Austria, the Netherlands, Switzerland, Poland, France, the Czech Republic, the US, Russia and Luxembourg. Luxembourg was represented for the first time. The top 10 last year were, after Germany, the UK, the Netherlands, Austria, Russia, Switzerland, Czech Republic, Poland, the US, France and Spain.

A total of 1,580 companies from 34 countries exhibited at this year’s event, compared to 1,856 companies from 45 countries in 2008.

Messe München management board member Eugen Egetenmeir said the industry could not look back on a successful year due to the economic and financial crisis. But he added that the fair had become 'down to earth' again and the business-like attitude of the attendees had lead to more intensive discussions, and a higher quality.

'A year ago there was a certain uncertainty among the real estate professionals at EXPO REAL. The event took place in the week after the rescue package was agreed for Hypo Real Estate Bank, and there were problems at Immofinanz,' he said.

'Now, everyone is saying "okay, let's have a look at where we are. Things have to go on - how do we proceed?"' Egetenmeir told the final press conference of the fair.

He noted that several investment transactions were concluded at EXPO REAL and other deals were finalised in advance and announced at the fair. 'We have reached the bottom in terms of pricing, there is enough money around. The market is trying to balance out the current trends.'

The next EXPO REAL takes place from 6 to 8 October 2010.