Canada prolongs ban on foreign housing ownership for 2 more years

Posted on February 12, 2024   |  

Canada has decided to extend its ban on foreigners owning Canadian housing for 2 more years to help Canadians afford homes.

The country is dealing with a housing affordability crisis due to factors like more migrants and international students, which have increased demand for homes while construction has slowed.

The ban, which was supposed to end on January 1, 2025, will now continue until January 1, 2027.

This extension aims to address the difficulties Canadians face in finding affordable housing in cities and towns across the country.