{"id":1428,"date":"2025-11-04T14:24:01","date_gmt":"2025-11-04T19:24:01","guid":{"rendered":"https:\/\/www.brickellsold.com\/blog\/south-fla-foreign-buyer-mix-shifts-as-canadians-demand-falls\/"},"modified":"2026-04-13T10:43:41","modified_gmt":"2026-04-13T14:43:41","slug":"south-fla-foreign-buyer-mix-shifts-as-canadians-demand-falls","status":"publish","type":"post","link":"https:\/\/www.brickellsold.com\/blog\/south-fla-foreign-buyer-mix-shifts-as-canadians-demand-falls\/","title":{"rendered":"7 Proven South Fla Foreign Buyer Mix Shifts As Canadians Demand Falls\u00a0: Mistakes to Avoid"},"content":{"rendered":"<\/p>\n

South Fla Foreign Buyer<\/strong> helps improve planning, consistency, and publishing quality when teams follow a repeatable workflow.<\/p>\n

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Canadian buyers are retreating from high-end South Florida markets, driven by the Trump administration\u2019s trade and immigration policies and a softer exchange rate, even as Latin American demand remains strong.<\/p>\n

Canada\u2019s share of foreign buyers shopping for U.S. homes online has dropped to 32.1 percent in the third quarter, from 36.6 percent in the same period of last year, according to a new report from Realtor.com. Still, Canada remains the top source of international buyers in the U.S.\u00a0<\/p>\n

Douglas Elliman\u2019s Senada Ad\u017eem, who handles luxury listings and sales in Palm Beach County, said that currency fluctuations and trade war volatility are factors. She called it \u201cunusual\u201d that she is seeing an uptick in Canadian sellers and a decline in Canadian buyers, referring to the $10 million-plus market.\u00a0<\/p>\n

\u201cWe all love our Canadian clients and friends. There is this perception that generally because of the trade negotiations that they\u2019re not as welcome in the U.S. There is this feeling on top of the actual financial and logical reasoning that they may decide to sell or not buy immediately,\u201d Ad\u017eem said. \u201cIt\u2019s also more difficult to get visas, and the cost of carrying properties in the U.S.\u00a0 has increased significantly.\u201d\u00a0<\/p>\n

A high net worth client from Canada is in a \u201cholding pattern\u201d because of the Canadian dollar weakening, said Corcoran Group agent Mick Duchon. The Canadian dollar was worth 71 cents in U.S. currency on Monday afternoon.\u00a0<\/p>\n

\u201c[Canadians] love being here. They love America, they are still interested in being here,\u201d Duchon said. \u201cThings very quickly got much higher priced for them. It\u2019s more of an economic concern.\u201d\u00a0<\/p>\n

Foreign flow<\/strong><\/p>\n

As Canadians pull back in South Florida, brokers told The Real Deal<\/em> they\u2019re still seeing demand from other countries, like Colombia, Mexico, Brazil and buyers from European countries. Miami<\/a> is still the top city with the most international views among top U.S. metros with 8.4 percent market share, according to the Realtor.com report. New York and Los Angeles followed.\u00a0<\/p>\n

As they have for years, condo developers in Miami<\/a> are closely following relations between the U.S., Mexico and countries in Latin America. Michael Sadov, sales director at Okan Group\u2019s Okan Tower, which is under construction in downtown Miami, said about half of the project\u2019s buyers so far are foreign.\u00a0<\/p>\n

Colombian buyers make up a quarter of those deals. Mexican buyers are second in line. Sadov said he wrote a contract last weekend for a Venezuelan buyer \u2014 someone living in the U.S. with a business in Venezuela. Brazilian interest has also increased.\u00a0<\/p>\n

However, Trump\u2019s positive relationships with foreign leaders are not translating to real estate purchases in Miami. The Trump administration\u2019s backing of Argentina\u2019s President Javier Milei and his party\u2019s victory in the recent midterm elections are encouraging Argentinians in Miami to take their money back to their home country, Sadov said.\u00a0<\/p>\n

\u201cIt\u2019s great the U.S. is making these alliances, but it\u2019s not translating to any kind of shift [to Miami],\u201d he said. \u201cIt\u2019s actually having an adverse effect for our real estate market.\u201d\u00a0<\/p>\n

Continued demand from buyers in the Northeast, California and the Midwest has helped offset fluctuations in the foreign buyer pool, brokers said.\u00a0<\/p>\n

Duchon said the buyer pool for high-end waterfront homes is still primarily American, and he is part of the majority who believe that will intensify if New York Rep. Zohran Mamdani wins the mayoral race on Tuesday, which is expected.\u00a0<\/p>\n

\u201cWe\u2019re anticipating a wave of new buyers to come into the market,\u201d Duchon said.\u00a0<\/p>\n

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