Canada bans foreign homebuyers for two years in effort to cool market
by Associated Press in Ottawa from World news | The Guardian on (#5XZFH)
Government under pressure after prices climbed by more than 20% last year, while rental rates have also been rising
Justin Trudeau's government has announced it will ban foreign investors from buying homes in Canada for two years, in a bid to cool off a hot housing market.
The finance minister, Chrystia Freeland, took a number of measures to tamp down speculation and demand amid record home prices in announcing the federal budget for the year.
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