FEDERAL GOVERNMENT IMPLEMENTS 2 YEAR BAN ON FOREIGN HOMEBUYERS

FEDERAL GOVERNMENT IMPLEMENTS 2 YEAR BAN ON FOREIGN HOMEBUYERS

In June 2022, parliament passed a ban on foreign homebuyers which came into effect on January 1, 2023.  Under the two-year ban, commercial enterprises and individuals located outside of Canada are prevented from buying residential real estate across Canada.  Ultimately, the legislation is aimed at curbing rising real estate costs across the country as the…

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