113
Government extends ban on foreign buying of Canadian housing (www.cbc.ca)
submitted 1 year ago by [email protected] to c/[email protected]
11 comments fedilink hide all child comments

The federal government is extending its ban on foreign home purchasing in Canada, Finance Minister Chrystia Freeland announced in a release Sunday.

The rule, which was first introduced in 2022, will now be extended until the beginning of 2027. It bans foreign nationals and commercial enterprises from buying residential property in Canada, with exceptions for some international students, refugee claimants and temporary workers.

you are viewing a single comment's thread
view the rest of the comments
[-] [email protected] 12 points 1 year ago

In case anyone forgot the Liberals rushing to add exemptions almost immediately after it was introduced.

https://www.cbc.ca/news/canada/british-columbia/canada-foreign-buyer-ban-housing-affordability-1.7058154

Exemptions watered down ban CMHC data reveals that only two per cent of real estate purchases in 2021 were made by non-Canadians, according to communications obtained by Global News through Access to Information.

A few months after the ban was put into place more exemptions were added. These included students, first-time buyers and properties under $500,000.

this post was submitted on 04 Feb 2024
113 points (98.3% liked)

Canada

10172 readers
781 users here now

What's going on Canada?

Related Communities

🍁 Meta

🗺️ Provinces / Territories

🏙️ Cities / Local Communities

Sorted alphabetically by city name.

🏒 SportsHockey

Football (NFL): incomplete

Football (CFL): incomplete

Baseball

Basketball

Soccer

💻 Schools / Universities

Sorted by province, then by total full-time enrolment.

💵 Finance, Shopping, Sales

🗣️ Politics

🍁 Social / Culture

Rules

  1. Keep the original title when submitting an article. You can put your own commentary in the body of the post or in the comment section.

  2. Misinformation is not welcome here.

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca

founded 4 years ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]