Toronto Real Estate Support
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Prohibition on the Purchase of Residential Property by Non-Canadians (Foreign Buyers Ban)
In the last federal election campaign, three of the main political parties made commitments related to limiting or heavily taxing foreign buyers wishing to purchase property in Canada. While commitments varied slightly, the policy intent was similar – to temporarily limit or disincentivize foreign buyers in order to prioritize domestic ones, and to hopefully tamp down increasing home prices.