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Feds Propose Extending Foreign Buyer Ban
November 6, 2026
Feds Propose Extending Foreign Buyer Ban
The federal government has proposed extending Canada's foreign buyer ban (which has been in effect since January 1, 2023) for another 2 years, until January 1, 2029, while significantly changing its scope and exempting certain properties.
Under the new proposal:
Existing residential properties: Foreign buyers will continue to be prohibited from purchasing existing and resale residential properties.
New residential properties: The prohibition will be lifted, allowing foreign purchasers to invest in qualifying newly-constructed housing.
The proposed exemption could provide a boost to Canada's development and pre-sale markets by expanding the pool of potential purchasers and unlocking additional investment in new housing supply.
The specific criteria for qualifying new residential properties have not yet been released. The federal government intends to introduce legislation and begin a regulatory process to implement the changes.
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Aman Bindra and his team assist clients with all real estate, banking, and business matters, including purchases and sales of real estate and businesses, borrowing and lending, land development and construction, and leasing.
Aman has extensive experience working with individual, business and corporate clients throughout British Columbia. He regularly advises on and prepares agreements relating to land, asset, and share purchases, financings, and construction projects, and he assists with leasing, incorporations, partnerships, corporate reorganizations, and more.
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