Federal budget extends foreign buyer ban on existing residential housing until 2029

National Post · Jordan Gowling · 2026-11-05 21:14 UTC

Ban that was set to expire in January of next year will now exempt new properties

OTTAWA – The federal budget announced the extension of the foreign buyer ban on existing residential properties until Jan. 1, 2029, but will now exempt new construction properties.

The foreign buyer ban first enacted on Jan. 1, 2023, by former finance minister Chrystia Freeland, prohibits non-Canadians from purchasing residential properties such as houses or condos with three or fewer units.

It was extended in 2024 and was on track to expire in January of next year. Originally, the ban was put in place to tackle the run-up in housing prices in 2022.

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