Foreign Buyer Ban Extended

Back in 2023 the Federal Government launched a Foreign Buy Ban in Canada and it was set to expire January 1, 2025. The Liberal government recently announced that ban is being extended to January 1, 2027.

Foreign commercial enterprises and people who are not Canadian citizens or permanent residents will continue to be prohibited from purchasing residential property in Canada.

For years, foreign money has been coming into Canada to buy up residential real estate, increasing housing affordability concerns in cities across the country, and particularly in major urban centres. Foreign ownership has also fueled worries about Canadians being priced out of housing markets in cities and towns across the country.

There are exceptions to the ban and answers to many frequently asked questions can be found with the link below.

FREQUENTLY ASKED QUESTIONS