Changes Made to The Foreign Buyer Ban


The Government Amends the Prohibition on the Purchase of Residential Property by Non-Canadians Act Regulations



The federal government, in collaboration with varies organized real estate sectors, has announced changes to the regulations that guide the foreign homebuyers ban. They are effective as of March 27th, 2023.  

The amendment areas are as follows:

  1. Non-Canadians with work permits will be eligible to buy a residential property if they have 183 days or more of validity left on their work permit. The criteria of tax filings and years lived in Canada requirements are repealed.
  2. Individuals or corporations purchasing residential property for the purpose of development are now also exempt from the ban.
  3. Vacant land (regardless of zoning as residential, mixed or commercial) is no longer under the ban.
  4. The percentage of a company that is owned by non-Canadians that can purchase residential property has moved from 3% to 10%. This threshold aligns with what is used in the Underused Housing Tax Act.

Detailed information can be found at the following links:

Access more information on the Prohibition on the Purchase of Residential Property by Non-Canadians Act.

Access more information on the Amendments to the Act’s Regulations on the Frequently Asked Questions page of the CMHC website.