Canada Has Temporarily Banned Foreigners From Buying Residential Properties to Keep Houses Affordable for Canadians

The legislation‘s goal was to make homes more affordable for people who are actually living in Canada. “The Act defines residential property as buildings with 3 homes or less, as well as parts of buildings like a semi-detached house or a condominium unit. The law does not prohibit the purchase of larger buildings with multiple units,” the Canadian government said in a press release.-- More...