Is There A Foreign Buyers Ban In Canada?

Yes, Canada has a foreign buyers ban on most residential real estate, extended until 2027, with limited exemptions.

The Prohibition on the Purchase of Residential Property by Non-Canadians Act was first introduced in January 2023 as a two-year measure to cool overheated housing markets. In 2024, the federal government extended the ban through 2027. Under this law, most non-Canadians are prohibited from purchasing residential property nationwide, including Toronto’s highly sought-after condos and detached homes.

There are essential carve-outs. Temporary residents, such as sure international students and foreign workers, may qualify under strict conditions. Rural and recreational properties are sometimes exempt, but the ban squarely applies to Toronto’s urban core, where affordability pressures are most acute.

From an investor’s standpoint, this reduces foreign competition for central Toronto assets. Historically, downtown condos priced around $700,000 have attracted significant international demand. Today, domestic buyers and investors are the primary drivers of transactions. TRREB market data indicate that local demand remains strong, particularly in walkable east-end areas such as Leslieville and family-oriented west-end neighbourhoods.

For sellers, this means marketing strategies must be even more focused on Canadian buyers. The Fox Marin Real Estate Team has completed over 1,000 successful transactions, representing more than $580M in sales. Our role is to ensure your listing reaches the right domestic audience through best-in-class marketing, while still tapping into national and institutional buyers who remain eligible to purchase.

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