Canada Restricts Foreigners from Buying Property - California Observer

 


The Canadian government has said some foreigners cannot purchase property in Canada for the next two years.

The ban’s purpose is to make homes more affordable in one of the world’s most costly cities.

Some people are opposed to the restriction because they are unsure how it would affect the Canadian real estate market.

According to data, Ontario and British Columbia have the highest housing values in Canada, with non-Canadian people accounting for less than 6% of homeowners.

Non-Canadian and permanent residents are no longer permitted to own real estate in Canada as of January 1. Violators will face a C$10,000 fine...Read More

Source: California Observer

Location: Spokane, WA, USA

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