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CIC News Recent policies that may make home ownership more affordable for eligible newcomers to Canada On April 11, 2024, Deputy Prime Minister/Finance Minister Chrystia Freeland announced several new housing affordability measures designed to help first-time buyers and current homeowners. In light of the federal restrictions on foreign home buyers last year (more on that…
CIC News What can newcomers expect from Budget 2024? Prime Minister Justin Trudeau, as well as several Liberal ministers, have made announcements regarding what can be expected from the upcoming Budget 2024. The Budget, which is set to be tabled to Parliament on April 16, is released annually and helps set the tone for how…
CIC News Canada extends foreign home buyer ban until 2027 The Canadian government has extended the Prohibition on the Purchase of Residential Property by Non-Canadians Act until January 1st, 2027. The policy, which was initially instituted to increase the number of housing units available to Canadians for purchase, will now be in place for an…
CIC News Buying a home in Canada as a non-Canadian The Prohibition on the Purchase of Residential Property by Non-Canadians Act was passed in parliament in June 2022 and came into effect on January 1 this year. Broadly speaking, the new regulations will prohibit the purchase of a residential property by any foreign investor who…
CIC News Housing in Canada: Reviewing shifts in the Canadian housing landscape over the last decade Statistics Canada (StatsCan) recently released its latest report on the state of housing in Canada, based on its 2021 Canadian Housing Survey. This report, which details and analyzes changes and trends in the country’s housing market between 2011 and…