CANADIANS CONSTITUTE MAJOR SHARE OF FLORIDA HOME BUYERS

ORLANDO, Fla. --- Foreign nationals constitute a major share of Florida home buyers as Florida real estate sales reach new sales records. Roger Soderstrom, owner and founder of Stirling Sotheby’s International Realty a major real estate firm in Central Florida, said that among international home buyers Canadians rank as the largest single nationality. From July, 2012 through July, 2013 Canadians accounted for 30 percent of the 22,572 residential real estate transactions in Florida that involved foreign-born buyers. At the same time, Michael DeMoya, global luxury real estate advisor at Stirling Sotheby’s International Realty, added that sales to international buyers totaled more than $6.4 billion during the period, according to the National Association of Realtors, and 80 percent of those transactions were all cash. DeMoya said Orlando has been a favorite destination for Canadians for many years, offering a very attractive lifestyle with a plentitude of restaurants, attractions and restaurants. Both Soderstrom and DeMoya stressed that Orlando’s economic base is anchored by the world’s most popular tourist destination. Walt Disney World heads an enormous infrastructure of attractions and activities that attract a substantial market of workers who constitute another market segment further driving demand for housing in the region. Corporate executives, celebrities and high net worth individuals have fueled the luxury home market in areas such as Windermere, and multimillion dollar subdivisions such as Isleworth and Keenes Pointe. Housing values in Central Florida, Soderstrom said, are extremely attractive compared to other areas within the state and nationally. In many neighborhoods a new home is priced about the same as an older existing home. Active adults of retirement age constitute the second most important segment of the housing market. Every day, approximately 1,500 Americans celebrate their 65th birthdays. Central Florida’s weather, DeMoya reminded, along with its retail opportunities, and lifestyle are particularly appealing, and the appeal to visiting children and grandchildren is an added bonus. Central Florida’s cost of living is exceptionally moderate without a personal income tax. New state of the art medical complex communities such as in Lake Nona are providing a high level of quality healthcare, DeMoya added. Soderstrom said Orlando offers long-term, steady and continued growth that is sustained by a solid economic base which is strong in employment, great family environment, value priced real estate, very reasonable cost of living and entertainment options galore.