I have SharePoint 2013 installed on a VMware machine, I can also create and deploy projects using VS 2012. I’m trying to create a SharePoint 2013 Project from my host PC with Win 7 64b, where I also have VS 2012 installed. I have installed Microsoft Office Developer Tools for Visual Studio 2012 using the official instructions.
On my host machine, I can’t create the SharePoint project and do SharePoint development and get this error:
SharePoint not installed. The required version of SharePoint foundation 2013 or SharePoint server 2013 is not installed on this system. To develop SharePoint solutions or browse SharePoint connections in server explorer, SharePoint must be installed on the local system. Make sure that the local server referenced by the SharePoint project exists.

My environment is:
- Window 7 Professional
- VS 2012 installed with Office components
- SharePoint 2010 Server on remote server