For subscribers
Canada rolls out curbs on foreign property buyers even as it aims to draw immigrants
Sign up now: Get ST's newsletters delivered to your inbox
New curbs in Canada, which came into effect on Jan 1, target foreigners buying property for investment.
PHOTO: BLOOMBERG
WASHINGTON – Under its plan to address labour shortages and ageing demographics, Canada wants 465,000 new immigrants in 2023, with the target rising in 2024 and hitting 500,000 in 2025.
That is creating pressure on Prime Minister Justin Trudeau’s government to match rising immigration with housing capacity, to keep a lid on soaring prices that are making homes unaffordable for many.
