Canada’s Finance Minister François-Philippe Champagne said Ottawa is “considering the options” on whether to extend the federal ban on foreign ownership of Canadian residential property, which is currently scheduled to expire in January 2027. Champagne gave a non-committal answer on Wednesday when reporters asked directly whether the government would extend the measure.
The ban applies to foreign investors buying Canadian residential property and was first enacted in 2022. It was originally due to expire in January 2025, but the government extended it by two years to its current January 2027 sunset date. At the time of that extension, the previous iteration of the Liberal government said foreign investors had been buying up residential real estate in a way that was “increasing housing affordability concerns in cities across the country, particularly in major urban centres.”
For anyone waiting on the ban to lift — including foreign buyers who have been holding off on Canadian property purchases — the minister’s comments confirm the question is genuinely open rather than settled either way. Champagne said: “That’s a measure … that has been in place for some time. The market is evolving. We’re looking at all the options that we have in front of us, considering where the market is going, what has happened over the last few years, always keeping in mind that we want to make sure that we have a higher stock of housing opportunities for Canadians.”
The timing adds a layer to watch: the January 2027 expiry falls just months after the Liberals are expected to table their next federal budget, meaning any decision on the ban’s future could be shaped by — or folded into — that budget process.
References
Global News – Ottawa considering ‘options’ as foreign home buyer ban nears end: minister
