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Impending Ban on Purchases of Residential Real Estate by Non-Canadians

Impending Ban on Purchases of Residential Real Estate by Non-Canadians

The Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”) will come into force on January 1, 2023, as one of several measures enacted by the federal government to target soaring housing prices, increase supply and curb foreign investor speculation.

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