Canadians Home Buyers Florida Largest Foreign Real Estate Investors: Report

                           Spent Nearly $2.2 billion Buying Properties

Canadian buyers accounted for approximately 32 percent of international foreign buyers in Florida. According to the National Association of REALTORS - Florida, International Surveys.

Purchases of non-resident foreigners buying property in Florida is estimated at approximately $7.97 billion.

Foreign home buyers in Florida come from a wide variety of countries. However, ten countries accounted for about 70 percent of reported foreign sales.

Canada continued to be the major country of origin followed by the United Kingdom. Among the Latin American countries, Brazil and Venezuela were the major sources of clients. The share of buyers from China has increased

Canadians buyers purchased nearly $2.2 billion of real estate properties in a number of areas across the state. Tampa-St. Petersburg-Clearwater, Cape Coral-Fort, Fort Lauderdale, remain the three top Destination.

Approximately half of Canadian buyers paid under $200,000. The average (mean) price paid by Canadian buyers was $260,800, which was below the $300,600 average (mean) price paid by all foreign buyers in Florida.

Although only 14 per cent of Canadians reportedly bought the property for investment reasons. The majority of Canadian buyers purchased properties located in a resort or suburban Resort 40% Suburban 33%. Approximately half of the properties purchased by Canadians were Vacation Home.

Slightly more than half of Canadian purchases were for condominiums/apartments and townhouses/row houses. With 38% buying Single Family-Detached.

The survey reported that most Canadian buyers 61% planned to use the property between 3 to 6 months during the year, which is in line with the overall preference for Canadian buyers to purchase property intended to be used for vacation.

To avoid all the hassles with getting a mortgage, approximately 89 percent of Canadian buyers paid cash. Foreign Investors usually pay cash due to the unavailability of bank financing to international clients

Banks are reluctant to lend to foreigners. When financing is offered, a very substantial down payment is frequently required.

About 85 percent of Florida REALTOR® respondents reported that the value of the U.S. dollar relative to foreign currencies had an impact on the real estate purchasing decision.

A weaker U.S. dollar means that the foreign buyer’s money goes farther in the U.S., thus effectively making U.S. real estate less expensive for the foreign buyer than would otherwise be the case.

Photo via MLS-201047853-5


Jason Mercer - Director, Market Analysis, discusses the Market Watch Report for January 2015

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REAL ESTATE SNATCH is the independent real estate blog of Samir Safadi, Sales Representative of West-100 Metro View Realty Ltd, brokerage it is dedicated to covering Real Estate News, digital culture, social media and technology, providing analysis of trends, Market Data , reviewing new development. Offering Real Estate services resources and guides. Services are provided to prospective buyers and sellers of real estate by Samir Safadi, Sales Representative, West-100 Metro View Realty Ltd, brokerage, duly registered in the province of Ontario, under Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Member in good standing with



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