Sarasota, Florida – According to the Sarasota Herald Tribune, Southwest Florida has seen a big surge in foreign real estate buyers, mainly Canadians and Europeans.
According to Herald-Tribune analysis:
- Foreign ownership rose 10% in Sarasota and Manatee counties last year
- Foreign buyers spent over $1.7 billion in Sarasota and Manatee counties last year
According to the National Association of Realtors (NAR), the foreign buyer market rose to 31 percent of all Florida real estate sales in 2015.
Foreign Nationality’s Impact on Florida Location
Depending on their nationality, buyers tend to be drawn to different parts of the state.
- Orlando real estate attracts a great deal of foreign buyers from the United Kingdom
- Miami real estate attracts a great deal of foreign buyers from Argentina and Brazil
- Southwest Florida (Sarasota and Manatee Counties) attracts a great deal of Canadian buyers. In fact, more than $1 billion of the total $1.7 billion spent in Sarasota and Manatee can be attributed to a buyer with a Canadian address.
Canadian Buyers in Florida Real Estate
Most of the Canadian buyers purchasing real estate in Sarasota and Manatee Counties of Southwest Florida are from Toronto, Ottawa or some other city in Canada’s Ontario province.
The Sarasota Herald Tribune reports that Ontario-based buyers accounted for 78% of last year’s rise in foreign-owned condos in Sarasota and 79% of the increase in foreign-owned single-family homes in North Port.
Contact Florida Lifestyles for Sale
If you are considering purchasing real estate in Southwest Florida (Sarasota and Manatee Counties) or Central Florida (Orlando), contact us today to discover the best properties available. At Florida Lifestyles, we have over 25 years experience in real estate and special expertise in helping foreign buyers through a smooth real estate process in Florida.