The Justin Trudeau government of Canada has given a big blow to the Punjabis in the new year. Along with Indians, any foreigner who has gone to Canada will now not be able to buy property there. Significantly, Canada has also given shocked those who applied for study and PR visas earlier and a large number of visas were rejected last year.
Facing a housing shortage, Canada has banned foreigners from buying residential properties. This ban started at the beginning of this year. Along with implementing this rule, the Canadian government has also made it clear that this restriction will apply only to city residences. This restriction will not apply to properties like summer cottages.
The proposal was kept during the elections in 2021
Canadian Prime Minister Justin Trudeau made this proposal during the election campaign in 2021 regarding the property for the convenience of the people. Due to rising prices in Canada, many people are not able to buy a home. This decision has been taken to benefit the local people.
High demand for home buyers in Canada
The demand for homebuyers in Canada has increased significantly over the past few years. People are engaged in buying and selling profitable property in Canada. The government has made it clear that the houses are for the people and not for the investors. The government has implemented a ban on the purchase of residential property under the Non-Canadians Act.
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