Canada Prolongs Foreign Homebuyer Ban to 2026

The extension aims to enhance housing affordability, with exemptions for specific groups and ongoing debates about its impact.

Canada extends its ban on foreign homebuyers through 2026, aiming to address housing affordability concerns.
The extension applies to foreign nationals and commercial enterprises, with certain exemptions for international students, refugee claimants, and temporary workers.
Recent market activity suggests a potential rebound in the real estate sector, with national benchmark home prices showing significant increases over the past five years.
Multiple levels of government in Canada have implemented measures to cool housing costs, including proposed taxes on non-resident home purchases in Toronto.
Experts debate the effectiveness of the foreign buyer ban on improving housing affordability, with some viewing it as more political than economic policy.