Canadians Purchasing Real Estate In Florida

Posted by on Jan 30, 2015 in Blog - Commercial Investment Properties | 0 comments

US immigration currently limits to six months the time, the  period  that foreigners can spend in the United States. This has been a problem for Canadians, many of whom have purchased homes in states such as Florida. Canadians are an important part of the Florida economy. In fact the Canadian Snowbird Association has 70,000 members. These are people that come to the warmth of Florida during the cold winter months and then return to Canada for the summer. To call these folks tourists does not seem correct. They spend half the year in Florida. Canadians pump a tremendous amount of money into Florida’s economy.  There are other countries whose nationals have an impact Florida real estate market, such as Brazil. However Canadians remain the bread and butter of the United States international market.
 In 2013, 3.7 million Canadians came to Florida of those 300,000 stayed at least two months. Canadians pumped $4.4 billion into the Florida economy in 2012. There are some bills being sponsored that would extend the six-month deadline that foreigners can stay in the United States. This could be a real benefit for Florida. More Canadians might buy homes and invest in the Florida economy. In Pinellas County alone Canadians already own at least 8100 houses and condos.
The the Canadian dollar is relatively low at present due to the lower oil prices and that has made it more difficult for Canadians to purchase real estate in Florida, but there is no question that the upward trend of Canadians purchasing in Florida will continue. If Canadians are allowed to stay longer in Florida some Canadians may consider moving their companies to Florida. There is potential for even more Canadian investment in both residential and commercial property in Florida.
Florida Real Estate Markets

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