Canadians made up 22% of all foreign buyers of Florida homes in 2018, outpacing Europeans (19%) and Asians (11%).

However, buyers from the Caribbean and Latin America made up the largest share (36%) according to data from Florida Realtors.

Most foreign buyers paid all-cash (67%) and 71% bought for vacation, residential rental, or both.

For snowbirds hoping to buy in Florida, competition has been intensifying as tight inventory and low mortgage rates have increased demand for homes.

Across all foreign buyers, 53% preferred townhouses or condos while 43% purchased a detached single-family home, 3% purchased residential land and another 3% purchased other types of properties.

Nearly half of foreign buyers purchased in a suburban or small town/rural area and 93% visited Florida at least once before purchasing a property.

For the 12 months ahead just 34% of Florida Realtors said they expected to work with international buyers, down from 37% in 2017; perhaps reflective of the tight market and interest from domestic buyers.

 

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