Canada’s federal government is reviewing what to do with the ban on foreign purchases of residential real estate as its end date approaches. Several outlets report that Finance Minister François-Philippe Champagne says Ottawa is considering “options” ahead of the policy’s scheduled expiry at the end of the year.
The ban was introduced in 2022, when prices rose sharply during the pandemic period, with interest rates near historic lows. Outlets describe the measure as aimed at keeping foreign investors out of Canada’s housing market amid concerns that homes were becoming increasingly difficult for Canadian buyers to afford. Coverage focuses on the government’s review process rather than any specific replacement plan, with emphasis on whether the ban will be extended, modified, or allowed to lapse at expiry.
