Canada extends ban on foreign ownership of housing by 2 years
Hindustan TimesCanada on Sunday announced a two-year extension to a ban on foreign ownership of Canadian housing, saying the step was aimed at addressing worries about Canadians being priced out of housing markets in cities and towns across the country. “As part of using all possible tools to make housing more affordable for Canadians, the ban on foreign ownership of Canadian housing, which is currently set to expire on January 1, 2025, will be extended to January 1, 2027,” Canadian deputy prime minister Chrystia Freeland said in a statement. The Canadian government has said foreign ownership also has fuelled worries about Canadians being priced out of housing markets in cities and towns across the country. Last month, Canada announced an immediate, two-year cap on international student permits and said it would also stop giving work permits to some students after graduation as it seeks to rein in record numbers of newcomers seen aggravating a housing crisis.
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