Canada Extends Ban on Home Purchases by Foreigners to 2026
- The measure comes as home sales appear to be rebounding
- Restriction ensures ‘houses are used as homes’: Freeland
Homes in Toronto, Ontario, Canada.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
Canada has lengthened a ban on foreign home buyers for two additional years as the real estate market begins to show signs of a rebound, stoking concerns about the cost of shelter in cities like Toronto and Vancouver.
Prime Minister Justin Trudeau’s government acted to prohibit non-Canadians from buying residential real estate in 2022, with the measure to expire on Jan. 1, 2025. That date has now been moved to Jan. 1, 2027.