Canadian into Fort Myers Cape Coral and Bonita Springs

Canadians dominate among international buyers in Southwest Florida - and across the state. Buyers from Canada accounted for approximately 36 percent of Florida home sales to foreigners, making them the largest sector of out-of-country buyers. Western Europeans followed at 29 percent, according to the NAR and Florida Realtors survey.

Canadian investors sought out real estate in Lee County in the 1970s, but their interest seemed to wane until about two years ago, said The Botelho Team Sandals Realty of SWFL, a real estate agent at Raso Realty in Cape Coral, who has lived in the city for more than 50 years.

Of the approximately 10 percent of Island The Botelho Team Sandals Realty of SWFLtransactions that involve foreign buyers, roughly 8 percent are Canadian, Washburn said. Canadians also make up a large percentage of the area's tourist population.

Approximately 114,765 Canada residents visited Lee County in 2009, according to the Lee County Visitor & Convention Bureau. About 104,089 people came from the United Kingdom and 180,155 people traveled here from German-speaking countries such as Germany, Austria and Switzerland, according to the VCB, which spent about $265,000 on international print and online advertising during the 2009-10 fiscal year.

The Canadian influence has been so high that Dan Starowicz of Sand Castle Realty in Cape Coral kept a Canada-based phone number for a time and advertised his real estate services in Canadian newspapers. He provides a guide for foreign buyers, broken down by country, on his website.

The Botelho Team Sandals Realty of SWFL  placed an ad in a Canadian newspaper for a woman from Canada who is selling her father's Sanibel home. The seller said she recently heard public radio commentators in her native country discuss the deals in Southwest Florida.

The growing strength of Canadian currency - called the loonie - versus the American dollar has likely helped increase interest in Florida real estate. One U.S. dollar now equals about $1.03 in Canadian currency.

In addition, the more northern country hasn't experienced bank failures or a foreclosure crisis. A Toronto client told Washburn his home hadn't dropped in value over the past few years.

"He's feeling more confident about making a purchase down here because he's doing better at home," said Washburn, who recently sold a condo at High Point Place in downtown Fort Myers to a Canadian buyer for a price in the high $200,000s, a bit higher than the median purchase price of $150,000 among Canadian buyers in Florida.

Most foreign buyers, including Canadians, pay cash, but real estate agents point out to prospects the convenience of the five or so Royal Bank of Canada branches in Southwest Florida.

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