Map Tool – Foreign Buyers Ban
Description
Mapping Tool: Prohibition on the Purchase of Residential Property by Non-Canadians Act | CMHC
Find out if a property or a location is in a Census Metropolitan Area or Census Agglomeration
The Government of Canada has passed a new law to help make homes more affordable for people living in Canada. The Prohibition on the Purchase of Residential Property by Non-Canadians Act (Foreign Buyers Ban) prevents non-Canadians from purchasing residential property in Canada for 2 years.
The Act applies to non-Canadians, including corporations and entities not listed on a stock exchange in Canada, and controlled by non-Canadians. It doesn’t apply to Canadians, permanent residents, or temporary residents who meet the exception criteria outlined in the Regulations.
Effective as of January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”) prevents non-Canadians from buying residential property in Census Metropolitan and Agglomeration Areas. This does not apply to commercial property.
Census Metropolitan Areas must have a total population of at least 100,000, with 50,000 or more living in the core.
Census Agglomeration must have a population of at least 10,000.
Key Highlights
- The Act defines residential property as buildings with 3 dwelling units or less. This includes semi-detached houses and condominium units. The Act doesn’t prohibit the purchase of larger buildings with 4 or more dwelling units.
- Non-Canadians can purchase residential properties located outside of Census Metropolitan Areas (CMA) and Census Agglomerations (CA).
- Certain exceptions apply allowing Non-Canadians to purchase a residential property in defined circumstances.
- If a non-Canadian, or anyone who knowingly assists a non-Canadian, is convicted of violating the prohibition, they will have to pay a fine of up to $10,000. Additionally, a court can order the sale of the residential property.