Get a True Feel for What You Could Buy Based on Your Income, Down Payment & Credit Rating. Pre-Qualifying Is Free, Won't Affect Your Credit Score & Tells You What You Might Afford. Switching is easy. Mobile mortgage experts. Wide range of mortgages.


Prohibition on the Purchase of Residential Property by Non-Canadians Act

Key Highlights

  • The Act defines residential property as buildings with 3 dwelling units or less. This includes semi-detached houses and condominium units. The Act doesn’t prohibit the purchase of larger buildings with 4 or more dwelling units.
  • Non-Canadians can purchase residential properties located outside of Census Metropolitan Areas (CMA) and Census Agglomerations (CA).
  • Certain exceptions apply to allowing Non-Canadians to purchase a residential property in defined circumstances.
  • If a non-Canadian, or anyone who knowingly assists a non-Canadian, is convicted of violating the prohibition, they will have to pay a fine of up to $10,000. Additionally, a court can order the sale of a residential property.