According to the National Association of Realtors, Canadians accounted for 23% of all international buyers in 2010, up from 7% in 2007. A recent survey by Bank of Montreal finds that one in five Canadians would consider buying a house or property in the US. Canadians bought a whopping $9.4 billion of US real estate in 2010.
Driving the growth is the strong Canadian dollar; houses here cost about half of a typical median priced home in Canada; investors see the low prices as a great investment opportunity and Canadians have a higher equity stake in their homes than Americans so they can borrow against that equity to invest in Florida.
Florida has been a top destination for Canadian snowbirds and vacationers for decades. In fact over three million Canadians (almost 10% of the country’s total population) visited Florida last year. In 2010 Canadians bought about eight percent of the homes sold in the state.
About 300 Canadians own homes and condos on Marco Island; 3,000 in Collier County. Home purchases by Canadians on Marco Island have doubled in recent years.
Last May, the Marco Island Canadian Club hosted the Consul General of Canada – Miami who outlined the positive impact of Canadians on the Florida economy.
On February 15 the Marco Island Canadian Club is hosting a free event about the medical resources available on the island and how to access them. Mike Murphy, Fire Chief will talk about the EMS, Kevin Cooper, Chief of Staff, NCH Healthcare System will talk about their facilities and Scott Campbell, CEO, Physician’s Regional Healthcare/Collier Blvd. will talk about their plans for the future.
Canadians visiting the island during season are invited to come and hear about our excellent healthcare capabilities, meet the speakers, network with other Canadians, share some stories and enjoy light refreshments.
This free event (courtesy of our sponsors) is being held at the Rose History Auditorium, Marco Island Historical Society, 180 S. Heathwood, Marco Island. Seating is limited so please RSVP to Sandy or Gary Elliott at 239-248-1776 or 239-248-5551.
Our sponsors for the event are M&I, a part of the BMO Financial Group, The Marco Island Sun Times, Physicians Regional Healthcare System and ERA Flagship Real Estate.