September 17, 2014
Canadians spent $2.2 bllion on Florida real estate last year making us the No. 1 international buyers out in the Sunshine State. Canadians paying mostly by cash made up 31.6% of the international transactions according to National Association for Realtors for Florida.
Half of all Canadian buyers spent less than US$200,000 — about half the average sale price of a home here last month, $398,618. Only 16% of Canadians paid more than $400,000 for their Florida homes.
There’s no country that even comes close to Canada when it comes to buying, with No. 2 United Kingdom accounting for 7% of all international purchases. Canada has been number one for seven straight years, cooling on Florida real estate after a 2011 peak but rebounding since.
‘‘The increase in international home buying activity was driven by the continued recovery of the world economy and the affordability of U.S. properties,’’ according to the report. Read more...