For a period of two years starting January 1, 2023, non-Canadians are banned from purchasing homes in Canada. Here’s what you need to know.
Posts tagged with “Foreign Buyers”
![post image](https://www.bcrea.bc.ca/wp-content/uploads/shutterstock_747336202-scaled.jpg)
While REALTORS® owe their clients an obligation to inform about the act, it allows for penalties on any party found guilty of knowingly assisting a non-Canadian in violating the prohibition.
![post image](https://www.bcrea.bc.ca/wp-content/uploads/shutterstock_2056444919_r.jpg)
A recent BC Supreme Court decision highlights the potential risks for REALTORS® working with buyers whose residency or citizenship status is unknown or has recently changed.
![post image](https://www.bcrea.bc.ca/wp-content/uploads/shutterstock_747320902-1.jpg)
On April 7, Budget 2022 was introduced with a significant focus on the supply and affordability of housing in Canada.