A growing number of wealthy Canadians are buying property in Florida for both investment and retirement purposes.
Many more Florida real estate agents are reportedly targeting Canadian property buyers, especially because the Canadian dollar’s exchange rate currently looks attractive against the U.S. dollar.

While the Sunshine State is seen as a great place to retire to, the availability of discounted property in Florida is also presenting solid investment opportunities, with prices widely expected to increase moving forwards.

Although it is extremely unfortunate that many Floridians lost their home during the recession, the distressed nature of the Florida property market is creating some extremely attractive opportunities for buying property in Florida, with some homes being sold at a fraction of their old value at the height of the market in early 2007.

The fact that many locals now do not qualify for a mortgage to buy a property in Florida means that demand for rental accommodation is soaring, creating plenty of fresh buy-to-let investment opportunities in the process, with some stunningly high double-digit rental yields achievable.

With high rental returns on offer and good prospects for capital growth, many more overseas nationals see now as a great time to secure a Florida real estate investment, which explain why sales are rapidly increasing statewide.

Original Article by Colin Murphy of http://www.torcana.com