Canada has extended the ban on foreigners buying houses for another 2 years

Canada extends foreign home buyer ban for 2 more years

The government of Canada made a key announcement on Sunday in the wake of the concerns of the indigenous people who are upset with the increase in house prices across the country. The ban on foreign home purchases in Canada has been extended for another two years. As Canada is facing a housing affordability crisis, the Finance Minister Chrystia Freeland announced that the ban, which ends on January 1, 2025, is being extended for another two years.

With the arrival of foreigners, the demand for housing in Canada has increased tremendously, and the common people there are worried. As a part of this, they have brought pressure on the government that the cost of construction of houses has increased. The government of Canada has imposed this ban because of the increase in house prices in the housing market due to the purchase of houses by foreigners, which is becoming unaffordable for the common man in the country.

In addition, the government announced last month that the restriction on the issuance of student permits will continue for another two years in connection with the studies of foreign students.

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Government extends ban on foreign buying of Canadian housing

Canada extends ban on foreigners buying property

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