Florida's housing market is on the rebound and Canadian Snowbirds are playing a huge role in it's recovery! Beyond the obvious attraction of marvelous weather and gorgeous beaches, there are two factors that make Florida real estate an especially good value for Canadians! The 1st is that the median priced home in Florida is nearly half than that in Canada. At the same time, the Canadian dollar is traditionally 10% above "fair" value versus the U.S, dollar, arming Snowbird shoppers with extra buying power.
There is growing demand for Florida real estate from foreign buyers, most notably Canadians, who have helped support property taxes. And Canada is Florida's # 1 source of foreign tourists and the state's #1 foreign buyer of real estate. In 2010, Canadians accounted for 36% of all real estate purchasers by foreigners! Also more than 500,000 Canadians own property in Florida.
Of those considering property in the U.S. in 2012, 56% would do so to gain a vacation or 2nd home. The key geographic areas where Canadians currently own real estate are in Sarasota, Orlando, Miami, Cape Coral, Tampa-St. Petersburg, and Naples.
Comments (1)Subscribe to CommentsComment