Foreign Real Estate Buyer Ban ! All the details!

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Foreign Buyer Ban

The ban on foreign buyers of Canadian real estate will go into effect on New Year's Day and it will be in place for a minimum of 2 years.

Watch for details from Vancouver's Best Realtor, Jonathan Ames.

The legislation includes exemptions for a variety of categories like permanent residents, foreign workers, foreign students, and even foreigners buying their principal residence here in Canada. So will this have a major effect on Canadian real estate? Probably not. foreign buyers are already a very small percentage of purchasers of Canadian real estate and this was approved well after the market had already peaked. So it does seem kind of pointless. If you have any questions about the foreign buyer ban that will come into effect on January 1, 2023. Reach out and I'm happy to sit down and have a conversation with you.

Jonathan Ames is Vancouver's Top Realtor.

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