Canada weighs options on extending foreign home buyer ban as expiry approaches
Finance Minister Francois-Philippe Champagne said Ottawa is reviewing whether to prolong the ban on foreign investors buying Canadian residential property, which is set to end in January 2027.
The ban that prevents foreign buyers from purchasing Canadian residential real estate was first enacted in 2022 and subsequently prolonged to run until January 2027. Finance Minister Francois-Philippe Champagne indicated that the government is currently assessing a range of options regarding a further extension, citing evolving market conditions and the goal of increasing housing stock for Canadians. He emphasized that the policy has been in place for some time and that the authorities are weighing its future based on recent developments.
The review is slated to occur shortly before the Liberals present their upcoming budget. While the minister remained non-committal about a concrete outcome, the discussion reflects ongoing concerns about housing affordability in major urban centres.
Why it matters
The decision will affect housing affordability and foreign investment in Canada's real-estate market.
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