Canadians snowbirds in Florida face cost-of-living crunch as real estate, rental prices rise
“It’s a very different market,” Dr. Ann Meyerson, a licensed real estate agent in southeast Florida who specializes in working with seniors, said in a recent interview. “A lot of my clients don’t understand how tight it is…. There are no deals out there.”Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
According to the Federal Housing Finance Agency, Florida saw the fastest home price appreciation in the United States both in the second quarter and for the 12-month period ending in June , the latter checking in more than four percentage points ahead of North Carolina and Arizona, the second and third fastest growing.The price paid by foreign buyers is rising in lockstep.in Florida was $347,300 in 2021 and had increased by 33.
Southeast Florida — including Palm Beach, Broward and Miami-Dade counties — was a close runner up with a 31.7 per cent increase. Similarly, a recent study by Apartmentlist.com that looked only at apartments found rents in southeast Florida had surged 28 per cent over the past year.Article content “There’s a real demand for rentals. People are especially looking for the three months: January, February, and March. And people are saying, ‘Well, nothing for 2023 so I will have to book for 2024 to find something.’”“They have to want to rent for at least six months and they have to be prepared to do what the agent tells them to do. It’s very simple. If they want it, they simply have to take it for what it is because there’s nothing out there.
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