Ottawa considering ‘options’ as foreign home buyer ban nears end: minister
The ban was brought in by the Liberals in 2022 to keep foreign investors out of housing markets increasingly out of reach for Canadian buyers.
Finance Minister Francois-Philippe Champagne announced that the Canadian government is “considering the options” regarding the extension of a ban on foreign ownership of residential properties in the country. The ban, which was first introduced in 2022, is set to expire in January 2027, just months after the Liberals’ next budget is tabled.
When asked about the possibility of extending the ban, Champagne remained non-committal, stating that the ban is “a measure … that has been in place for some time.” Champagne emphasized that the market is evolving and that the government is examining all available options while considering the current state of the market and recent developments.
The government expressed concerns about foreign investors increasing housing affordability issues in major urban centers across the country. In 2024, the previous Liberal government extended the ban for an additional two years, as foreign investors continued to buy up residential real estate.
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