Why Canadians Are Giving Florida Another Look
Raleigh, N.C. – December 15, 2010 – When Alain Forget, director of RBC Bank’s US-based Cross Border Banking Segment, contemplated a series of seminars to brief Montreal and Toronto residents on some important nuances of buying Florida real estate, he had no idea how popular the 2-hour events would be. As it turns out, they were standing-room-only with lots of Q&A.
Forget invited Florida-based experts in real estate, law and tax as well as foreign exchange professionals to speak at a series of invitation-only, in-person seminars in Canada this fall. For the Montreal seminars held in late September and October, middle-class to high-net-worth Canadians filled a total of 1,000 seats to learn about Florida real estate. That response prompted Forget to schedule additional dates, including Toronto this fall. More than 80 percent of the initial series attendees said they did not yet own Florida property and more than half said they were actively considering buying. From these 2010 sessions the Canadian attendees asked questions and voiced some common themes. Here are a few highlights:
Dollar for Dollar, It’s A Very Tempting Opportunity
Short Sales and Foreclosures Draw Attention
Homeowners Associations offer prospects of Convenience, Choice and Confusion
Lifestyle Is Key
The popularity of the Canadian seminars signals a brighter future for Florida investment by younger Canadians and sends the message that these prospective buyers are hungry for professionals with Florida knowledge and Canadian experience. For more information about Cross Border Banking and related resources, contact Alain Forget at 516-443-5432.
About RBC Bank
RBC Bank, headquartered in Raleigh, N.C., offers a wide range of financial services and advice to individuals, businesses and public institutions throughout the Southeast. RBC Bank’s network includes more than 420 full-service banking centers in six states (Alabama, Florida, Georgia, North Carolina, South Carolina and Virginia), an extensive ATM network and telephone and online banking. RBC Bank is the 40th largest U.S. bank by consolidated assets, according to SNL Financial’s List of the Nation’s 50 Largest Banks, September 2010. RBC Bank is a wholly-owned subsidiary of Royal Bank of Canada (RBC) (RY on the TSX and NYSE), Canada's largest and most stable bank as measured by assets and market capitalization. In August 2009, Global Finance Magazine ranked RBC as the safest bank in the Western Hemisphere. RBC is also one of the world's financial, social and environmental corporate leaders, having appeared on the Dow Jones Sustainability World Index every year since its creation in 1999. Additional information about RBC Bank may be found at www.rbcbankusa.com.