Canada has recently taken steps to limit non-resident foreigners from buying residential real estate in the country until at least 2025. The move is part of a larger effort to help manage housing affordability and the availability of homes for Canadians.

 

The ban, announced in 2020, applies to all provinces and territories with the exception of Quebec and Ontario. It prohibits non-resident foreigners from buying residential property, such as single-family homes and condominiums, except under certain conditions.

 

The ban is part of a larger effort by the Canadian government to address housing affordability and availability in the country. The ban is intended to help ensure that there are more homes available for Canadians and that housing prices remain within reach for those who need it most.

 

In addition to the ban on non-resident foreigners buying residential real estate, the Canadian government has also implemented a number of other measures to help manage housing affordability and availability in the country. These include increasing taxes on foreign buyers and increasing taxes on vacant properties owned by non-residents.

 

The goal of these measures is to ensure that more homes are available for Canadians and that housing prices remain within reach for those who need it most. By limiting non-resident foreigners from buying residential real estate in Canada, the Canadian government hopes to make housing more affordable and accessible for Canadians.





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