Canadians Flock to purchase real estate in Boca Raton

More Canadians have been purchasing Boca Raton real estate for the past four years as a result of Boca Raton and South Florida homes prices dropping as much as 30% to 50%. Canadian snowbirds are finding terrific values in foreclosure, short sale and resale homes in our South Florida area and across the state. In fact, The Florida Realtor Association recently reported on a survey prepared on behalf of the BMO (Bank of Montreal) conducted by Leger Marketing  that found one in five Canadians are now considering purchasing property in the United States because of the affordable and lower home prices and the strong Canadian dollar. Boca Raton and South Florida have always been one of the most popular areas for Canadian snowbirds, U.S. snowbirds and retirees to purchase a second home or retirement property, and the pattern continues with bargain real estate prices and large inventory of homes and condos continuing to attract these buyers to our area.        

The BMO expects the strengthening of the American economy and employment and a stronger U.S. dollar to increase U.S. home sales and Canadian’s confidence in investing in our housing markets. Other interesting facts revealed by the survey were that Canadian men were more apt to purchase a U.S. home by 29% compared to 16% of Canadian women. Thirty-one percent of the residents of Alberta, 28% of the residents of British Columbia and 27% of Prairie Provinces were the most interested in purchasing U.S. real estate. There are some Canadian Banks that have branches in Florida such as BMO. For BMO locations and more information on purchasing Boca Raton and surrounding area real estate, please contact us today.