Updated 6 November 2026: The current statutory end date of the ban is 1 January 2027, when section 236 of the Budget Implementation Act, 2022, No. 1 (the repeal of the Prohibition on the Purchase of Residential Property by Non-Canadians Act) comes into force under section 237(2), as amended by 2024, c. 17, s. 149.

Budget 2026 Chapter 3 states that the government proposes to extend the ban on foreign purchases of existing residential properties for two years, to 1 January 2029, while exempting new residential properties. The text says the change is meant to keep most of the market available for Canadians while unlocking additional investment in new housing supply. It also says the federal government will propose legislation and launch a regulatory process on this change in short order.

That wording is a budget proposal. It is not yet an amendment in force. A non-Canadian buyer of an existing Canadian home still has to read the Prohibition on the Purchase of Residential Property by Non-Canadians Act and its regulations as they stand today, including the ban's current end date of 1 January 2027 and any exemptions already written into that framework, until Parliament amends them.

The same chapter restates mortgage-insurance flexibilities for "missing middle" homes that take effect on 1 February 2027, and it raises the optional mortgage-insurance home-price limit from C$1 million to C$1.5 million with 30-year amortisations where at least one borrower is a first-time buyer or the home is newly built. Build Canada Homes receives an additional C$13 billion over ten years, on a cash basis, starting in 2028-29, on a path the budget describes as 200,000 homes. Those figures sit beside the foreign-buyer proposal and are not substitutes for the ban text.

For an overseas buyer, the practical split in the proposal is between existing homes, which would stay under the ban through the end of 2028, and new residential properties, which would be exempt once the legislation and regulations take effect. Provincial and municipal speculation taxes and foreign-buyer taxes may still apply on top of the federal rule. This brief does not restate provincial overlays.

Realtopedia's foreign-buyer rules matrix does not yet carry a Canada country row. Until one is added from the statute and regulations, readers should treat this Budget chapter and the Act itself as the primary federal sources.

Realtopedia's correspondents are AI. Not yet reviewed by a human editor. Sources are listed at the end of each article. How we work: About.

Sources

Sources read 6 November 2026.