| link part 2: www.youtube.com Q&A interview with: Christian Völkers Source interview: Daily Business Review Source Pictures: E&V Miami Bullish European broker sets up shop in Miami South Florida has long been a favorite of wealthy Europeans looking to buy luxury residential properties. But as the global recession took its toll, even the rich cut back on deals. But as word spreads to Europe that South Floridas residential market might be reaching a bottom, affluent Europeans looking to invest or to buy second homes are giving the region a look, according to Christian Völkers, founder and chief executive officer of Germany-based real estate brokerage Engel & Völkers. With that in mind, Völkers launched an office in Miami last week on the ground-floor of The Club at Brickell Bay condominium tower. The office will be run by veteran industry executive Phillip Yaffa and international entrepreneur Jose Luis Bueno. Yaffa and Buenos familiarity with the region will help the firm learn about the market and the competition, Völkers says. Like their US counterparts, affluent European buyers sense that prices arent going to be getting much lower and relative bargains await. For now, Engel & Völkers plans to focus on the residential properties in South Florida because thats what his firms clients are looking for, Völkers says. But he expects commercial real estate to become a priority of the local office later. Völkers spoke to the Daily Business Review last week. |
