Canada’s 2-year ban won’t affect intl. students, Canada PR visa holders

Recently Canada has announced the ban for foreigners from buying houses in Canada for 2 years. The latest update is that international students and Canada PR visa holders can still purchase homes in Canada. The ban doesn’t apply to them. The ban on foreigners buying homes was implemented to keep the rising prices of houses under check. With this ban, it’s intended that working-class and young Canadians aren’t expelled from the real estate market owing to a price hike. *Know your eligibility to immigrate to Canada, through Y-Axis Canada Immigration Points Calculator.   Chrystia Freeland, the Finance Minister of Canada, said that the whole exercise is to make the market fairer for Canadians. The 2-year ban will stop foreign investors from buying homes in Canada to park their money in the country/ It will ensure that homes are not merely used as commodities but will serve the original purpose of families living in it. In fact, the Canadian government is proposing to increase the number of homes being built in the country. This will be done in cooperation with municipalities, the provincial and territorial governments, and the private and non-profit sectors. This was presented in the latest budget. Freeland also stated that the government will make all necessary efforts to make investments in constructing more homes. It will also bring down the barriers to such construction activities in the housing sector. The investment will be made in the rental housing sector on which many are dependent. It will also be made easier for youngsters to buy houses. *Need guidance to invest in Canada? Get expert guidance from Y-Axis professionals. Another possibility with the latest policy of the Canadian government is that temporary foreign workers could also be exempt from the 2-year ban imposed recently. As always Canada still bets on the contribution of immigration and is aiming at welcoming 431,645 new immigrants in 2022. In 2023, the target will be 447,055, and 451,000 in 2024. The major advantage of Canada immigration is the way it brings skilled and qualified workers on board in Canadian establishments in various industrial sectors. Making it easier for Canada PR visa holders to buy homes in Canada will be another factor that will attract foreigners to migrate to Canada. If you are willing to migrate to Canada, talk to Y-Axis, the leading overseas immigration consultant in the UAE. If you find this blog engaging, you may also like: Canada records lowest unemployment in 50 years