Canada prohibits foreign investors from buying homes to prevent speculation. The country is one of the most inaccessible houses in the world. Still, Portugal is behind.
Canada has kicked off the new year with legislation barring foreign investors from buying homes. The ban, put forward by Justin Trudeau’s Liberal government last April and approved by parliament in June, is expected to take effect on Jan. 1 and last for two years. It aims to slow the rapid rise in house prices in what the BBC says is one of the world’s most unaffordable real estate markets. Medical costs per household are 11 times higher than the median household income After taxes.
Non-citizens or non-permanent residents of Canada are prohibited from purchasing residential real estate, with some exceptions, such as international students who have been in the country for at least five years, workers who have filed tax returns in Canada for four years prior to the purchase, diplomats or those associated with international organizations living in Canada, and asylum seekers and refugees. Foreigners with temporary residence permits, including
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