Federal Government Eases Some Restrictions On Non-Canadians Purchasing Property

The government is walking back some restrictions on foreigners purchasing residential property just months after the new rules came into force.

Non-Canadians on a work permit or who are authorized to work in Canada can now purchase residential property. They must have at least 183 days or more remaining on their work permit or work authorization and must purchase only one property to be eligible.

Non-Canadians and foreign businesses can now also purchase residential property if they intend to develop it. They can also purchase vacant land zoned for residential or mixed-use for any purpose.

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