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Federal budget extends foreign buyer ban on existing residential housing until 2029

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Federal budget extends foreign buyer ban on existing residential housing until 2029

OTTAWA – The federal budget announced the extension of the foreign buyer ban on existing residential properties until Jan. 1, 2029, but will now exempt new construction properties.

The foreign buyer ban first enacted on Jan. 1, 2023, by former finance minister Chrystia Freeland, prohibits non-Canadians from purchasing residential properties such as houses or condos with three or fewer units.  Learn more.

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