As of Jan 01, 2023 Foreigners are banned from buying Real Estate in Canada
On January 1, 2023, a ban on foreign real estate investment went into effect in Canada. This new regulation prohibits non-residents from purchasing residential property in Canada with the aim of cooling off the overheated housing market. In this blog post, we’ll take a look at what this ban means for homebuyers and real estate investors in Canada.
Most Expensive and Affordable Properties Sold in December 2022
In the last month of 2022, the Bank of Canada
2023 Real Estate Forecast for Canada
The real estate market in Canada is expected to experience a number of changes in 2023. These changes will be driven by a variety of factors, including economic conditions, population growth, and government policies.
Most Expensive and Affordable Properties Sold in Jan 2023
Again, the Bank of Canada increased the policy interest rate
Can Foreign Buyer buy a home in Canada?
Canada’s recent rollback of parts of its foreign buyer ban has been reported as a quiet move. After just 86 days of implementation, the Canadian government took a step back from some of the restrictions put in place to curb foreign property purchases.
Strong Labor Market Signals Potential Rate Hike
The Canadian economy has been showing promising signs of growth in recent months, with a strong labor market leading the way. However, as the labor market continues to improve, it may also mean that another interest rate hike could be on the horizon. A strong labor market is one of the key indicators that the Bank of Canada uses to determine when to raise interest rates. Currently, the Canadian unemployment rate stands at 6%, which is the lowest it has been since the start of the COVID-19 pandemic. Homebuyers and mortgage holders should stay informed about market updates and work with professionals to make informed decisions about their finances.
