Federal Budget Relaxes Foreign Buyer Ban, Includes Billions for Housing

Ottawa to allow foreign buyers to purchase new construction homes

One significant bit of news on the housing front is that the government is extending the foreign buyer's ban, but foreign buyers will be able to buy new construction homes.

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

The new federal budget 2026 announced the extension would be until Jan. 1., 2029. The ban was in place to tackle run-up in housing prices.

Budget 2026: Ottawa reopens new-build housing market to foreign homebuyers

The government says this measure would help "protect housing affordability by keeping the vast majority of the market available for Canadians, while unlocking additional investment in new housing supply."

Canada Budget Relaxes Foreign Buyer Ban, Includes Billions For Housing

Federal budget relaxes foreign buyer ban, includes billions for housing

Prime Minister Mark Carney’s government is earmarking tens of billions of dollars to reduce homelessness and expand the country’s social housing stock, and says it will loosen the foreign buyer ban to allow new home purchases.