Canada's Foreign Buyer Ban Is Set to Expire Jan. 1, 2027: What We Know

If you have heard that Canada's foreign buyer ban is about to be removed, here is the accurate version: the ban is scheduled to end on January 1, 2027, but the federal government has not announced whether it will let it lapse, extend it again, or replace it with something narrower. This article separates what is on the record from what is speculation. It reflects public information as of October 29, 2026.

What is already settled

The Prohibition on the Purchase of Residential Property by Non-Canadians Act took effect on January 1, 2023. On February 4, 2024 the federal government announced a two-year extension, moving the end date from January 1, 2025 to January 1, 2027. CMHC's guidance reflects that date. The rules about who is covered and who is exempt are described in our earlier guide, Canada's Foreign Buyer Ban: Who's Exempt? Canadian citizens and permanent residents are not covered by the ban at all.

What Ottawa has actually said

Speaking to reporters on October 7, 2026, Finance Minister François-Philippe Champagne said the government is "considering the options" on the ban and wants to make sure there is a higher stock of housing opportunities for Canadians. In December 2025, Housing Minister Gregor Robertson said he hopes to find a way to get foreign capital to help fund construction, and pointed to Australia's approach as one he finds interesting. No decision, draft rule, or date for a decision has been published.

Three possible outcomes

These are scenarios, not predictions. We do not know which, if any, the government will choose.

• The ban lapses on January 1, 2027, and non-Canadians can buy residential property subject only to the ordinary rules and provincial taxes.
• The ban is extended again, as it was in 2024, possibly unchanged.
• The ban is replaced by a narrower rule. Australia's model, which generally limits foreign buyers to new construction and vacant land, was singled out by the Housing Minister as one he is interested in. It is not a published Canadian proposal.

What this means depending on your situation

Practical points, none of which depend on the outcome:

• Citizens and permanent residents: nothing changes. You were never covered by the ban.
• Work-permit holders and international students: the exemptions you rely on today stay in force until the government changes them. CMHC's summary of the conditions: a work permit (or work authorization) with at least 183 days of validity left at purchase; for students, a property under $500,000, tax returns filed for the preceding five years and at least 244 days a year in Canada over that period; and in both cases no earlier purchase under the prohibition. Confirm your specific facts with a real estate lawyer before you buy.
• Outside Canada with no status: do not build a plan around a lapse. A purchase you cannot complete lawfully on your closing date is a legal risk, not a bargain.
• Deals closing near January 1, 2027: ask your real estate lawyer which rules apply on your closing date and what the contract says if the rules change.

What a lapse would not change

Provincial and municipal measures on non-resident buyers are separate from the federal ban, so a federal change would not by itself remove them. And buying Canadian residential real estate, by itself, does not provide permanent residence, a work permit, a study permit or any other immigration status. If your plan is to move to Canada, the immigration route and the purchase are two separate decisions.

What we will do

We will update this article when the federal government announces a decision. If you are considering a purchase, we can help you understand how your immigration status affects the transaction and coordinate, where appropriate, with qualified real estate and legal professionals. Questions about the property transaction itself belong with a real estate lawyer. This article is general information, not legal advice about a specific purchase.

Considering a purchase in Ontario?

Fara Homayoonkhah is a RECO-registered real estate broker with CENTURY 21 Heritage Group Ltd. in Ontario.

Sources

Checked October 29, 2026. The first three are official; the last two are news reports of ministers' remarks, because we found no primary transcript.

• Department of Finance Canada: two-year extension announcement (February 4, 2024)
• CMHC: Prohibition on the Purchase of Residential Property by Non-Canadians Act (end date and temporary-resident exemptions)
• Justice Laws Website: the Prohibition on the Purchase of Residential Property by Non-Canadians Act
• Global News: Finance Minister Champagne's October 7, 2026 remarks
• The Logic: Housing Minister Robertson on foreign capital and the Australian approach (December 22, 2025)

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