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  • Arisnel Mesidor, M.A., RCIC

The Foreign Nationals Home-Buying Ban in Canada


The Impacts of the Foreign Nationals Home-Buying ban in Canada

Starting on January 2023, Canada will prohibit foreign nationals from purchasing real estate in the country with important exceptions for permanent residents and temporary visitors, including temporary workers and international students. This move is intended to help cool the housing market and prevent speculation. Foreign buyers will still be able to lease property, but they will not be able to purchase it.

Bill C-19, the Budget Implementation Act of 2022, received royal assent on June 23 as the federal government works to cool the hot housing market. The temporary ban on foreign investment in Canadian residential real estate is also occurring while Ottawa is promoting the creation of more new homes with the provincial and territorial governments, municipalities, and non-profit organizations.


The temporary ban on foreign investment in Canadian residential real estate

The Canadian government has recently implemented a temporary ban on foreign investment in Canadian residential real estate. This is in response to the growing evidence that foreign investment is driving up housing prices in major Canadian cities, making it difficult for Canadian residents to afford a home.

The ban on foreign investment is intended to level the playing field and give Canadian residents a better chance at purchasing a home. Only time will tell if this policy is successful, but it is a significant change that could have a major impact on the Canadian housing market.


Bill C-19, the Budget Implementation Act of 2022, received royal assent on June 23 as the federal government works to cool the hot housing market.

Ottawa's government promoting the creation of more new homes


Ottawa's government promoting the creation of more new homes

The Ottawa government is committed to creating more new homes and ensuring that all residents have access to affordable, quality housing. To achieve this, they are working closely with their provincial and territorial governments, municipalities, and non-profit organizations. However, they are committed to working together to create more new homes and to ensure that all residents have access to affordable, quality housing.

To conclude, the Canadian government has announced that foreign nationals will not be able to buy homes in Canada in 2023. This policy is intended to cool the housing market and protect the interests of Canadian citizens. If you are interested in exploring your Canadian immigration options, contact Mesidor Canadian Immigration Services today. Our experienced immigration consultant, Arisnel Mesidor, and the rest of the team can help you navigate the complex immigration process and make your dream of living in Canada a reality.



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