By David Norman, Founder Director at Davon Investments. At last year's MIPIM, residential developers and investors from the UK were subdued. Falling interest rates at the start of the year had sparked hopes of a construction boom, but in Cannes in March 2024, that optimism had faded, as the market faced further uncertainty due to the general election and subsequent Budget. A year on, and MIPIM delegates returning to the UK are reporting a brighter outlook after enduring torrential rain in Cannes.