Canada Foreign Buyer Ban – Youtube

📣HUgE NeWS! Foreign buyer Ban extended until 2027!! 📣

I 💯 support this move and think this should be the law moving forward. Canadian real estate should be reserved for people who live, work and pay taxes in Canada. 💸

Will the extension to the foreign buyer-ban make much of a difference⁉️

Probably not.

CMHC released their transaction results for 2021 (before the initial buyer ban), and it showed only 2% of all real estate transactions were from non-residents, and I’d argue this number is likely lower in Vancouver as there is a very steep foreign buyers tax of 20%❗️

Interestingly, this report also showed 4.3% (1/23) of homes in Vancouver were owned by non-residents. 2021.. What are your thoughts regarding non-residents owning homes in Vancouver? 🏠