Most observers of the U.S. real estate industry have been aware of a German presence in the United States markets for a number of years. A survey by Jones Lang LaSalle determined that German investors are committed to investing in the U.S. They have realistic return expectations, a focused view on preferred markets and sectors and a definite time frame in which to invest a considerable amount of money.
Christel Silver, owner of Silver International Realty in Delray Beach, recently met with Dr. Guido Stracke, the CEO of the KSK-Immobilien GmbH, a German real estate company, which is a subsidiary of the Kreissparkasse Köln.
According to Ms. Silver, “Dr. Stracke was visiting to explore investment possibilities for his German clients in Florida. We visited Mizner Country Club in Delray Beach, toured the facilities and looked at several homes, before exploring other investment possibilities in Delray Beach.”
The Florida housing market is enticing to international purchasers, who spent almost $30 billion on Florida homes in the past three years according to the National Association of Realtors (Profile of International Home Buyers in Florida—2011). With Florida homes making up an estimated 22 to 31 percent of U.S. homes purchase by internationals nationwide, Florida is the top state for international home purchases, consistently followed by California, and then by Texas and Arizona, with nearly equal shares (International Buyers of Florida Homes. June 2012. Florida TaxWatch).