Halifax, Cape Breton Municipality, Truro, Kentville, and New Glasgow currently fall within the ban zones, leaving much of the beautiful south shore and valley region available for foreign buyers to purchase.
Earlier 2022, the Government of Canada passed a new law titled the Prohibition on the Purchase of Residential Property by Non-Canadians Act. The Act prevents non-Canadians from buying residential property in Canada for 2 years starting on January 1, 2023 WITH the intent of extending another two years as declared February 4, 2024.
The Government of Canada has released the following Regulationswith new details.
Additional information from the Canada Mortgage and Housing Corporation (CMHC) is available HERE, including definitions and frequently asked questions.
For questions about the Act, please email CMHC's Nadine Leblanc, at[email protected].
