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Canadians Doubled Spending on U.S. Real Estate in Last Year

August 9, 2017

The National Association of Realtors reports great news for sellers in South Florida: ‘œMore than one out of three Canadian buyers in the U.S. choose homes in subtropical Florida, with the majority of those snapping up homes around Miami, Fort Lauderdale and West Palm Beach’. Over the past year, Canadians have doubled the amount spent on real estate in the US ‘“ $19 billion to be exact and mainly on vacation homes and residential investment properties. Mansion Global tells us ‘œThey look to their southern neighbor for sunny, high-end vacation spots in places like Florida’. Some may be surprised to learn that ‘œEven with a large contingent of Latin American buyers in Florida, Canadians spent the most of any foreign nationals in the state’”around $3 billion in 2016’. ‘œCanada’s burning hot housing market, particularly in Toronto and Vancouver, has fueled purchases in the U.S., as baby boomers cash out on their long-time family homes in Canada and use the spoils to pick up amenity-rich second homes in the U.S.’.

What are the Canadians buying?
The typical buyers is looking for a low maintenance vacation spot, so it is no surprise most buyers are looking for a luxury condo in the beach area. ‘œA lot of those snowbirds want new developments. It’s their resort property,’ said Ms. Fox, who will soon launch sales in Canada for the new Four Season Private Residences Fort Lauderdale. ‘œThey want a valet, they want a concierge, they like maid service.’ ‘œNew developments in Boca Raton like Akoya Boca West, a condominium at the Boca West Country Club, have seen an influx of new high-end buyers from Canada, a spokeswoman for the development said’. In fact, Akoya already has over 20 Canadian owners which is helping sales with other Canada based households.

How are they buying?
‘œThe vast majority of Canadian buyers in the U.S., some 76%, pay for their homes in all cash, according to John Slivon, president of the realtors association in Palm Beach and Greater Fort Lauderdale’. The typical Canadian buyers have several million in assets and many are looking for luxury homes in the $1 million to $3 million dollar range, making Palm Beach, Fort Lauderdale, and Miami beach area homes very desirable. See Mansion Global article.

Contact Nicholas Malinosky and Randy with Douglas Elliman if you are looking to buy or sell a luxury oceanfront, waterfront or beach area home in South Florida.

Boca West Country Club Single-Family Home Hits the South Florida Real Estate Market

August 7, 2017

John Gluek with The Randy & Nick Team just listed a custom single-family home in Boca West Country Club. The residence located 7517 Mahogany Bend Place, Boca Raton, Florida was entered in the Multiple Listing Service on August 4, 2017 with a list price of $1.345M. The new listing is also featured on,, Douglas Elliman, Knight Frank, Zillow, and Trulia.

Welcome to Boca West Country Club, the Nations #1 Private Residential Country Club. This four bedroom home represents the luxury lifestyle that is synonymous with a Boca West address. With one of the lowest joining fees and dues structures in Southeast Florida, mandatory membership at Boca West offers four championship golf courses; tennis center; expansive sports center with five pools; European-inspired spa plus full salon services; six restaurants; a brand new $50 million clubhouse; year-round social calendar; and 24-hour security monitoring and patrol. The home is situated on a spacious lot and offers a floor plan that is ideal for both privacy and entertaining with volume ceilings, spacious living areas, covered lanai, screened pool and more. Features include formal living and dining rooms with marble floors; gourmet kitchen with dining area open to the family room; spacious master wing; separate wing with three additional guest bedrooms; laundry room; and two car garage with separate side door for golf cart parking. The stunning pool, covered lanai, expansive screened patio and spacious backyard serve as the focal point throughout the residence. The covered lanai features a summer kitchen and ample room for outdoor dining and living areas with no need to worry about the weather forecast. Enjoy hours of fun thanks to the screened pool and large patio with gorgeous views of the expansive backyard. With five-star amenities just outside your door, Boca West Country Club offers a luxury lifestyle that can be enjoyed both year-round and seasonally. Please see Property Details.

This Boca West residence is exclusively listed by John Gluek with Douglas Elliman’s The Randy & Nick Team. Please contact John if you would like more details.

Douglas Elliman Pitches New Boca West Luxury Condo to Long Island Buyers

July 11, 2017

Long Island Business News reports that Jordan Tepper of Douglas Elliman will be at Hendrick’s Tavern in Roslyn to pitch Akoya, the new luxury condo at Boca West Country Club in Boca Raton, Florida. The presentation is scheduled from 6:00 pm to 8:00 pm on Wednesday, July 12, 2017. See LIBN post

Akoya is a nine-story luxury condo offering two to five bedrooms with a list price from $800,000 to $3 million. The condo’s resort-style amenities will include pool and sun deck overlooking the golf course, 24-hour fitness center, valet parking and concierge services. Boca West Country Club is the #1 Private Residential Country Club in the Nation with five-star amenities including four championship golf courses, brand new $50M clubhouse, tennis center with 30 plus courts, fitness and aquatic center with five pools, spa with full salon, six restaurants and a year-round calendar of social and cultural events.

Exclusively listed by Douglas Elliman, Akoya is a new development project that is quickly earning its place in the luxury real estate market. South Florida residents and New Yorkers alike are taking notice and making inquiries about the exciting and new condo project.

With over 40 years combined experience in the South Florida luxury real estate market, Douglas Elliman agents, Nicholas Malinosky and Randy Ely know that many luxury buyers come from the Northeast. If you are interested in more information about Akoya or other Douglas Elliman New Development projects, please contact Nick and Randy today.