Jane Helmstadter

Feb 6, 2024 | jdsupra.com | Alixe Cameron |Jane Helmstadter |Mark Lewis

The Government of Canada has announced a two-year extension to an existing ban on foreign ownership of Canadian housing. The Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act) was set to expire at the end of 2024, it will now be extended to January 1, 2027. The government announced the extension on February 4, 2024. The Deputy Prime Minister and Minister of Finance said the step was taken to address housing affordability concerns in Canada.