Federal budget proposes extending Canada's foreign buyer ban to 2029
The 2026 federal budget proposes pushing the expiry of the foreign buyer ban from Jan. 1, 2027 to Jan. 1, 2029.
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Ottawa wants to keep its ban on foreign homebuyers in place for two more years, pushing the expiry from Jan. 1, 2027 to Jan. 1, 2029.
The proposal is in the 2026 federal budget released Thursday afternoon, and the government says it would introduce legislation to extend the prohibition before the current expiry date.
The ban first took effect Jan. 1, 2023, for two years. In early 2024 the federal government extended it to Jan. 1, 2027. It generally stops non-Canadians from buying detached houses and condominium units in urban areas. Canadian citizens and permanent residents are not covered, and some temporary residents and other eligible buyers are exempt.
The government says the measure is meant to curb foreign demand during a post-pandemic housing upswing and keep homes available for people living in Canada.
