Canada’s Housing Ban on Foreign Buyers: What You Need to Know
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Does the foreign buyer ban affect Calgary?
This week, the Canadian government announced a new policy to ban foreign homebuyers from buying property in Canada. The new law comes after years of speculation and
debate over whether this ban was necessary or beneficial to Canadians. This ban does apply to property purchased in Calgary.
The foreign buyer ban, which took effect on January 1, 2023, has now been extended through January 1, 2027. This extension aims to address housing affordability concerns by limiting residential property purchases by non-citizens and foreign commercial enterprises. While initially intended to expire in 2025, the government decided on a two-year extension due to persistent affordability challenges in Canada’s housing…
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riven by what's believed to be impending interest rate increases, the truth is, we really can't say for certain that this is the leading cause. Our country continues to open up for immigration, major cities in provinces like Ontario and British Columbia continue to demand housing prices and costs that are…
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