Sources said the Liberals would make it illegal for foreigners to buy housing in Canada for the next two years. The properties include apartments, flats and single houses.
Permanent residents, foreign workers and students will be excluded from the measure, as well as foreigners buying their main residence in Canada.
“The people who will be banned are those who buy the house and never come to Canada to live in it and leave the house empty while the stock is low and people can not buy houses,” said the head of the Ottawa Office. CTV News Joyce Napier. .
Prime Minister Justin Trinto vowed during the 2021 federal election campaign that he would introduce a two-year ban on foreign home buyers.
Other measures to be introduced in Thursday’s budget include $ 4 billion to help municipalities update zoning and permit systems to pave the way for faster housing construction, $ 1.5 billion in loans and financing for cooperative housing and $ 1 billion for the construction of affordable housing.
It is not clear how many units will be built under the two cost measures. The housing package is expected to total about $ 10 billion over the next five years.
Last week, the Ontario government announced an increase in the non-resident speculation tax and extended it to the entire province.
Finance Minister Chrystia Freeland will deliver the budget on Thursday at 4 p.m.
You can stream it live on CP24.com or on the CP24 app.
– With files from CTV News
