Canadian endvestors pounce on florida

Overseas property agents are noticing more and more Canadian buyers surging into Florida to buy distressed properties for their retirement. Dubbed "Canadian endvestors," they are snapping up homes at heavily discounted prices and sitting on them until they stop work.

Speaking exclusively to OPP this week, Ralph E De Martino, 2011 Residential President of The Miami Association of Realtor and president of local agency group Ocean International Realty, said "Canadians love it here and their currency has exaggerated buying power. That, coupled with low prices... it's a no brainer to buy and to buy now.

“This trend is likely to continue as more Canadian buyers are telling their friends. It's like a snowball effect," De Martino added.

Garret Kenny, managing director of CB Feltrim agrees, and has even been up to Canada recently to sell opportunities at developments like his Tuscana resort.

Source: OPP.org.uk