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2 year ban on non Canadians buying property

2 year ban on non Canadians buying property

Old Dec 30th 2022, 12:10 am
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Default 2 year ban on non Canadians buying property

I’ve just read this online. I’ve got conflicting answers and the articles aren’t entirely clear.

if the other half an I were granted PR via express entry, would we be eligible to buy a house within those two years?

thanks in advance
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Old Dec 30th 2022, 3:06 am
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Default Re: 2 year ban on non Canadians buying property

The ban does not apply to permanent residents.

https://www.cmhc-schl.gc.ca/en/media...wned-canadians

The Prohibition on the Purchase of Residential Property by Non-Canadians Act applies to individuals who aren’t:
  • Canadian citizens
  • permanent residents of Canada
  • persons registered under the Indian Act.
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Old Dec 30th 2022, 6:18 am
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Default Re: 2 year ban on non Canadians buying property

As long as you have a active PR status then you are allowed to buy property. The ban is for outside investers who have no direct status in canada.
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Old Dec 30th 2022, 10:02 am
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Default Re: 2 year ban on non Canadians buying property

Originally Posted by London2OntarioRealtor View Post
As long as you have a active PR status then you are allowed to buy property. The ban is for outside investers who have no direct status in canada.
Originally Posted by bc2015 View Post
The ban does not apply to permanent residents.

https://www.cmhc-schl.gc.ca/en/media...wned-canadians
appreciate it guys, just wasn’t 100% sure from what I’d read.

hope you both had a good Xmas and happy new year when it comes.
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Old Dec 30th 2022, 2:30 pm
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Default Re: 2 year ban on non Canadians buying property

Originally Posted by Fedupscotsman View Post
appreciate it guys, just wasn’t 100% sure from what I’d read.

hope you both had a good Xmas and happy new year when it comes.
You were right to ask. I also found it confusing the way it was reported in the media. It felt one had to be a Canadian citizen as the only requirement to buy. It doesn't make any sense for a PR to be banned from buying or hit with an extra tax. No immigrant would consider Canada if such a ruling was taking place...

This 2 year ban is also only political, it's only focusing on 1% of all the properties purchased.
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Old Dec 30th 2022, 8:18 pm
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Default Re: 2 year ban on non Canadians buying property

Something to keep in mind is legally the rights of PR are mostly equivalent to Citizen aside from criminal activity and the residency requirement, making exceptions is generally difficult and open to legal challenges.
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