Days before non-residents are banned from buying homes in Canada, the federal government has announced a number of exemptions, including for many foreign workers and international students who plan to live in Canada long-term.
From Jan. 1, non-Canadians will be prohibited from buying residential property for two years. The federal government announced the ban as part of its April budget, saying the measure would help improve housing affordability for Canadians.
But details about who the ban would cover, and who would be exempt, were only released Wednesday — giving prospective buyers and realtors just 11 days to wrap up any purchases that could be prohibited in the new year.