Y-Axis Immigration Services

Sign up for free

expert consultation

Down Arrow

I accept the Terms & Conditions

Don' know what to do?

Get Free Counseling

Posted on July 15 2022

PR Visa holders exempt from foreign buyer ban in Canada from Jan 2023

By  Editor
Updated January 18 2024


  • Temporary and Permanent residents are exempted from this ban
  • The foreign ban will be implemented from January 2023
  • Ottawa plans to double the construction of homes

Canada has announced that it will ban foreigners to purchase homes from January 2023. The temporary and permanent residents, temporary workers, and students will be exempted from this ban.

*Check your eligibility to migrate to Canada through Y-Axis Canada Immigration Points Calculator.

The Finance Minister Chrystia Freeland has announced that a ban on foreign ownership of the houses has been implemented to control the rising of house prices in Canada. The minister has also stated that the step has been taken to make the real estate market fair for the Canadian citizens. The ban will be temporary as Ottawa has plans to double the construction of new homes. These homes will be constructed with the cooperation of the following:

  • Provincial governments
  • Territorial governments
  • Municipalities
  • Private sectors
  • Non-profit sectors

Read more…

Saskatchewan invites 64 candidates under Entrepreneur stream Manitoba issued 348 Letters of Advice to Apply for a Canada PR

Canada plans to invest more in the construction of new homes

The minister has also stated that more funds will be invested in the construction of new homes so that barriers related to the construction can be reduced. Investment will be made in the rental housing and the keys will be handed over to the young people first. Freeland has said that Canada does not have more homes and the current budget has been made to resolve the problem. Ottawa wants to control the foreign investment in home purchase to lower the inflation. Foreign money is being invested to purchase homes in Canada which increased the costs in Toronto and Vancouver. There is a possibility that Canadian citizens may be priced out across Canada. In order to help Canadians to get the homes first, ban has been implemented on the foreign investors.

Planning to migrate to Canada? Talk to Y-Axis, the world’s no. 1 overseas immigration consultant. If you found this blog engaging, you may also like…

RNIP immigration gave a tenfold rise and continues to increase in 2022


Canada immigration news

PR Visa


Options for you by Y-Axis

phone 1

Get it on your Mobile


Get News Alerts

contact 1

Contact Y-Axis

Latest Article

Related Post

Trending Article

New digital nomad visa in Japan

Posted On February 19 2024

Japan announces new digital nomad visa, Apply now!