Federal Ban on Foreign Homebuyers
As of January 1, 2023, the Canadian government has implemented a two-year prohibition on non-Canadians purchasing residential properties. This legislation aims to make housing more accessible to Canadian residents by curbing foreign investment that has been driving up property prices.
Montreal Introduces New Short-Term Rental Regulations
Montreal has enacted changes to its short-term rental rules, impacting property owners who utilize platforms like Airbnb. These regulations are designed to address housing shortages and ensure that short-term rentals do not negatively affect the availability of long-term housing for residents.
CREA Updates Housing Market Forecast for 2025
The Canadian Real Estate Association (CREA) has revised its resale housing market forecast for 2025, projecting an 8.6% increase in transactions compared to 2024. This adjustment reflects stronger-than-expected market activity and suggests continued growth in the housing sector.
