October 2022

Changes are coming in January 2023 for non-resident buyers

Posted on Oct 07, 2022

On June 23, 2022, the Parliament of Canada passed the Prohibition on the purchase of residential property by non-Canadians Act. Coming into force on January 1st, 2023, this Act will last for two years and will minimally affect the Canadian real estate market. Some of the key points to this act are:

• It does not apply to Canadian citizens and perman...

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