In this episode of the Miami Condo Minute™ micropodcast, host Peter Zalewski - founder of the Miami Condo Investing Club™ - discusses the possibility that the current tourism boycott of the United States could prompt Canadian condo owners to offload their South Florida units.
In a 15-minute podcast, Zalewski explains that if Canadians unit owners were to sell off their units now, it would further dampen an already struggling South Florida condo market that is reeling from rising listings and falling prices due to legislative changes made in the aftermath of the Surfside condo collapse in June 2021.
Zalewski also discusses how Canadian condo owners have an advantage over domestic owners as they can dump their units at discounted prices and still benefit from the favorable currency exchange rate resulting from the stronger U.S. dollar and the weaker Canadian dollar.
The U.S. dollar-to-Canadian dollar exchange rate was USD$1=CAD$1.39 as of April 25, 2025, according to currency conversion website OandA.com.
In this micropodcast, Zalewski also highlights the importance of Canadian buyers to the South Florida condo market where they represent eight percent of the international purchases in the region, and why this contingent of second-home buyers from the north is reassessing whether they want to continue to invest in the tricounty region.
For context, Canadian buyers are the third most active country - behind Argentina and Colombia - purchasing South Florida residential real estate, accounting for more than $300 million between August 2023 and July 2024, according to the 2024 Profile Of International Homebuyer Transactions of Miami Association of Realtors study published in February 2025.
On a county-by-county basis, Canadian buyers - who purchase South Florida condos at a 2-to-1 pace over single-family houses - account for five percent of the foreign transactions in Miami-Dade County, 15 percent in Broward County and 25 percent in Palm Beach County, according to the Miami Realtors study.
It is worth noting, this episode of the Miami Condo Minute™ was prompted by a segment featured on the Florida Roundup program that aired on April 25, 2025, on WLRN, the Miami affiliate of NPR.
Miami Condo Minute™ Podcast Timeline:
00:21 Impact of Canadian boycott on South Florida real estate
01:52 Legislative changes and market challenges
02:48 Economic analysis: renting vs. owning in South Florida
04:15 Canadian influence on South Florida real estate
04:47 Interview with Toronto journalist Tim Harper on Canadian sentiment
06:55 Importance of Canadian buyers in South Florida
11:01 Call to action for real estate industry leaders
13:34 Conclusion and final thoughts
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