I have been selling real estate in the South Florida area since I moved here in early 1997 from Coral Gables to Lighthouse Point and for the past few years I have not seen many Canadian Buyers, however during the last few months there has been an influx of Canadian Buyers purchasing properties in a big way.
I have sold three single family waterfront homes in the past five weeks to Canadians: one for $1,500,000, the second for $2,325,000 and the third this past week for $3,050,000. All of these properties are on the water and sold at or above market value. During much conversation with these Buyers, they all stated that "it's the right time to buy in South Florida" There reasoning was due to a few factors. The most motivating factor being the current exchange rate of 1.07 when just a few years ago it was 1.6. This means that just a few years ago it would have cost them approximately 50% more to purchase these same properties.
The second reason was for the obvious "what South Florida has to offer" and especially the WARM WEATHER.
I think we will see more and more wealthy Canadians coming to South Florida!
Comments(5)