Because the value of the U.S. dollar has fallen so much over the last few years there has been a huge influx of foreign buyers looking to take advantage of the weak dollar and purchase U.S. real estate.
It is estimated that around 15% of foreign buyers chose Florida real-estate for their investment in U.S. real estate. The main group of investors we see in the current real estate climate is Canadian. This reflects the strength of the Canadian dollar against its American counterpart. The average price paid by foreign investors for a Florida home is currently around 300,000 dollars. This is dramatically higher than the median price of Florida homes, reflecting the amount of buying power these investors have.
In the last several years the Canadian dollar has increased in value while the US dollar has decreased due to poor economy and rising unemployment rates. This is the major factor driving investors to look at U.S. real estate for investment purposes. One of the main reasons that Florida is chosen is because of the wonderful, sunny climate and wide array of attractions. In fact, Florida boasts some of the best year round weather of any state in the US.
Many people consider Florida’s climate to be its most important resource when looking into purchasing U.S. real estate.
For this reason it is often called the sunshine state. Northern Florida has what is considered a sub tropical climate while the southern most regions are considered to be tropical. The state has long summers that are warm and sunny, while the winters are mild in comparison to other areas of the US. Despite the fact that the southern portion of the state is considered to be a tropical climate, the cool breezes coming off of the Gulf of Mexico help to keep coastal temperatures pleasing during the summer months.
No matter where people go in Florida there are a variety of attractions to be found. There are many state parks and wildlife preserves for the outdoors oriented person as well as endless beaches for people who love surf and sand. Because Florida is a state heavy with tourism, there is a variety of shopping and eating establishments. Everything from large department stores and food chains to small locally owned restaurants and boutiques can be found almost everywhere in the state. Of particular note are the amusement parks like Disney, Sea World and Universal studios located around the Orlando area which is a plus to certain investors for U.S. real estate.
This combination of climate and activities has made the state pleasing to investors other than those who are profit driven.
Many Canadians are choosing to purchase second homes through U.S. real estate procedures in various places around Florida.
The mild winter weather makes the state preferable to the cold and snowy weather often experienced in Canada. Needless to say the favorable real estate situation has brought many more Canadian snowbirds seeking a winter home in Florida.
It is prime time to take advantage of the low home prices and wonderful weather that Florida has to offer. Home prices are expected to rise as more investors seek to put their money into the U.S. real estate market. In order to make the best of this situation it is important to make your move now and invest in U.S. real estate!