Foreigners have been banned from buying homes in Canada in an effort to ease one of the world’s most unaffordable markets.
As of 1 January, the ban prohibits people who are not Canadian citizens or permanent residents from buying residential properties, and imposes a C$10,000 fine on those who breach it.
Federal housing minister Ahmed Hussen said the ban is meant to discourage buyers from looking at homes as commodities instead of a place to live and raise a family.
