Canada has banned foreign ownership of residential real estate for two years to ‘cool’ an overheated housing market.
Official information from Immigration Canada said the ban affects non-residents, prohibiting ‘foreign nationals from owning homes in Canada, starting January 1, 2023’.
Slotted in as Division 12, The Prohibition on the Purchase of Residential Property by Non-Canadians Act, was enacted as part of the Bill C-19 budget, stating:
‘It is prohibited for a non-Canadian to purchase, directly or indirectly, any residential property.’
Already a subscriber? Log in
Subscribe for just $2 a week
Try a month of The Spectator Australia absolutely free and without commitment. Not only that but – if you choose to continue – you’ll pay just $2 a week for your first year.
- Unlimited access to spectator.com.au and app
- The weekly edition on the Spectator Australia app
- Spectator podcasts and newsletters
- Full access to spectator.co.uk
Or
Comments
Don't miss out
Join the conversation with other Spectator Australia readers. Subscribe to leave a comment.
SUBSCRIBEAlready a subscriber? Log in