Canada is adding temporary foreign workers who have at least 183 days left on their work permits to the growing list of foreign nationals allowed to buy homes despite the two-year ban on home ownership by non-Canadians.
The ban took effect on January 1st of this year. Right at the outset, permanent residents, international students and diplomats and consular officials were exempt from the ban on buying Canadian real estate.
In December, they expanded the exemptions to include vulnerable persons who already have temporary visas who are fleeing conflict or those who have already filed a refugee claim. Canada is now exempting temporary foreign workers with six months left on their work permits, as well as foreign nationals and businesses who intend to buy vacant land to develop for residential or mixed use.
These amendments will allow newcomers to put down roots in Canada through home ownership and businesses
to create jobs and build homes adding to the housing supply in Canadian cities,” said Housing and Diversity and Inclusion Minister, Ahmed Hussen. “These amendments strike the right balance in ensuring that housing to house those living in Canada rather than a speculative investment by foreign investors.”