Canadians have been buying up property in Miami like nobody's business.

By Stephanie Sims

Finally, the Canadians seem to be realizing their country is just a bit too cold, even in the summer sometimes, and they’re taking advantage of Miami’s hot temps and real estate market.

Though they’ll never be able to play outdoor ice hockey in Florida, at the rate Canadian investors are buying in Miami – as well as other parts of Florida – it’s safe to say that outdoor ice hockey is hardly their concern (we’re sure they’ll make do with indoor rinks).

Canadian Homebuyers in Miami

According to NaplesNews.com, Canadians are among the largest shares of foreign buyers who buy in the U.S. at 24 percent. Canadian buyers account for more than double the rate they did in 2007, according to recent report by the National Association of Realtors – 23 percent in 2011 and 11 percent in 2007.

From July 2011 to June 2012, foreigners accounted for 19 percent of the home sales volume in Florida, according to an industry report by Florida Realtors, and within that year, Florida sales to foreigners reached an estimated $10.7 billion out of a total of $58 billion. Canadians accounted for 31 percent of those foreign purchases, putting them in first place among all nationalities.

And while Canadians are getting a leg up on other countries in terms of investing and buying in Florida, they aren’t necessarily looking for massive homes or second homes. According to Agent Genius, 1,763 square feet is the median home size Canadians look for, compared to other American buyers at 1,854 square feet, and the Dutch at 2,400.