Find Real Estate Agents and Homes for Sale


Real Estate News --> Florida News

Canadian buyers loom larger in South Florida’s residential market


In addition to cold weather, Canadians also have loomed larger in the South Florida real estate market this winter because of the sustained strength of Canada’s housing market, which has encouraged them to sell their primary residences. The Four ...


Archived Story

February 18, 2018 11:30AM Canadians comprised 9 percent of foreign buyers of South Florida homes last year, up from 6 percent in 2016, according to the Miami Association of Realtors and the National Realtors Association of Realtors. Canadians’ interest in South Florida vacation homes has increased as an especially cold winter continues in their home country. Record-breaking cold weather hit Canada in December and JanuaryDuring a six-day cold snap in Montreal, temperatures didn’t exceed -17 degrees Celsius (1.4 degrees Farenheit). In addition to cold weather, Canadians also have loomed larger in the South Florida real estate market this winter because of the sustained strength of  Canada’s housing market, which has encouraged them to sell their primary residences. The Four Seasons Private Residences condominium development in Fort Lauderdale got 221 inquiries from Canadians in the six months that ended in January, far more than in the preceding six-month period. Despite Hurricane Irma’s destructive landfall in Florida in September, the appeal of warm-weather living apparently has trumped Canadians’ concerns about hurricane risks and rising sea levels. Florida’s hurricane season “isn’t a major concern” among Canadians shopping for second homes in the Sunshine State, said Rob Siemens, director of marketing for the Siemens Group. He said Canadians own about 15 percent of the 3,400 condo units at the Boca West Country Club in Boca Raton, and he expects that population to grow as Canadians buy into Ayoka Boca West, a 139-unit condo that Siemens Group is developing on the grounds of the country club propertyPrices for condos at Akoya Boca West start at $1 million. Approximately 34 percent of inquiries about Ocean 2000, a 64-unit condo development in Hallandale Beach, have come from potential Canadian buyers, compared to 24 percent from U.Sresidents, said Shahab Karmely, founder of KAR Properties, the developer of the oceanfront boutique condo, which is now under constructionUnit prices start at $3 million. KAR Properties will try to lure more Canadians to Ocean 2000 by visiting real estate brokerage firms Montreal and Toronto in March and April, Karmely said. Canadians comprised 9 percent of all foreign buyers of South Florida homes last year, compared to 6 percent in 2016, the Miami Association of Realtors and the National Realtors Association of Realtors reported. Canadians bought $19 billion of residential property in the United States last year, more than double their $8.9 million of purchases in 2016, according the National Association of Realtors[Mansion Global] – Mike Seemuth Tags: canada, foreign buyers, Residential Real Estate Short URL Print stLight.options({publisher: "INSERTYOURPUBKEY",shorten: false});

Trending Florida News:


  • Ex-cons finding new careers in Florida real estate
  • Steven Martonffy, Licensed Real Estate Agent, Announces the Launch of His Website and Monthly Blog
  • South Florida Senator Wants to Ban Fracking Across Florida
  • St. Pete, FL Real Estate: Foreclosures
  • Economists: Florida jobless rate to remain bleak
  • Fabled Clearwater estate sells for a record $11.18 million
  • A Jewish guide to Florida real estate
  • Trump buys Miami's Doral golf resort for $150 mln
  • Florida Defies Housing Rebound as Foreclosures Soar: Mortgages
  • Amendment 1 would ensure funding for environment
  • Florida Estate Asks $51 Million (Unless You Only Want Part of it)
  • Joshua W. Hartigan - Resumé - 2016
  • Miami Beach luxe market a safe choice for buyers
  • Naples Firm Treiser Collins Expands Real Estate Law Group, Adds Partner Thad Kirkpatrick
  • Toys 'R' Us closures have real estate brokers as excited as kids in a toy store
  • Miami Realtors to Host International Real Estate Congress
  • How To Turbo Boost Your Retirement Plan By Taking Advantage Of This Little Known Real Estate Secret
  • Florida Carries Southern Region in Domestic Migration
  • Focused approach sets Regan apart in real estate biz
  • Why waterfront real estate in the Keys could soar