The German real estate market is in motion. Single real estates as well as parts of real estate portfolios are still projected and brought to the market to a great extent. In addition, the ownerships of big real estate portfolios are changing. In the light of this situation, this book guides foreign investors and project developers through the legal, tax and economical requirements for real estate investments in Germany in a practical manner.

Zusammenfassung
International real estate investors are shaping events on the German real estate market to an ever greater extent. The reason for the increasing interest of foreign investors in the German real estate market is primarily the property prices which are still low by international comparison and promise above-average returns. The proportion of foreign investors in the transaction volume on the German real estate market suddenly jumped to over 50% in 2005 and this trend has continued in 2006 at an ever increasing rate. The idea behind writing a book in English about real estate investments in Germany was therefore born from practical experience in advising foreign investors. In our opinion it is essential for an investor to know the special legal and tax characteristics and the economic parameters of the German real estate market in order to be in a position to make a sound investment decision. Against this background this book is not to be viewed as a scientific study; the aim of the authors and publishers is to familiarise foreign investors in a comprehensible and practical manner with legal and tax aspects and the economic factors prevailing on the German real estate market.

Inhalt
Zoning Law.- Building Regulations.- Profitability Aspects of the Investment.- Financing and Securities.- Purchase Contract.- Design and Project Management.- Construction Contract.- Lease Agreements.- Facility Management.- Public Procurement and PPP.- German Tax Environment of Real Estate.- Taxation along the Life Cycle of an Investment.- Open-End and Closed-End Funds and Real Estate Investment Trusts.