Canadians look to travel and buy property in Europe: “There is no incentive to come to the States anymore”

It appears that a growing number of Canadians are looking to buy property in Europe over the USA. In the past, the U.S. has historically been a popular destination for Canadian real estate investment, particularly in states like Florida, Arizona, California, and Texas, often for vacation homes or as “snowbird” properties.

However, with an ongoing tense relationship between Canadian and American governments, there is a growing trend for Canadian investors to look at alternatives with Europe proving popular.

Certain European countries, such as Portugal, Greece, and parts of Eastern Europe, offer more affordable property prices compared to major Canadian cities like Toronto and Vancouver. This allows Canadians to potentially acquire larger or better-located properties for their money.

Canadians say ‘no’ to U.S.

Following the Trump administration imposing tariffs on certain goods coming from north of the border earlier in the year, Canadian return flights from the U.S. fell 13.5% in March from a year earlier, according to Statistics Canada with Canadian-resident return trips by automobile fell about 32%.

Real estate is now facing a similar pullback in demand with a Reuters report showcasing how just one estate agent in Arizona claimed that he currently has 18 listings from Canadians looking to sell, compared with the usual two to four per quarter.

Speaking as part of the Reuters report, “There is no incentive to come to the States anymore,” stated Donny B., a native of Ontario who is looking to sell his two investment properties in Florida and reluctant to give his full name for fear of a backlash.

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