Peter Lim

The Canadian government has extended the Foreign Buyer Ban to December 31, 2026. If you are a non-Canadian citizen or permanent resident, you won’t be able to purchase single-family homes, duplexes, or triplexes in Ontario and across Canada until January 1, 2027. Here’s what you need to know:

For Canadian Citizens & Permanent Residents:

You can still purchase any property this year or next, regardless of where you live, and you won’t be subject to the 25% land speculation tax.

For Foreign Buyers:

You can purchase vacant land zoned residential or multi-unit properties (4+ units).

Joint purchases with a Canadian spouse for a primary residence are allowed without paying the additional tax.

Work Permit Holders & Students:

You may still be eligible to purchase property but may face the additional 25% tax at closing. Rebates are available if you become a permanent resident within 4 years.

https://www.realtor.ca/blog/6-signs-it-could-be-time-to-buy-a-home/34585/1363

6 Signs It Could Be Time to Buy A Home - REALTOR.ca Blog Wondering when might be the right time to buy a home? Here are some signs that might indicate it's time to look for your dream home.