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August 9, 2022
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Canada bans foreign homebuyers for two years in effort to cool market

Government under pressure after prices climbed by more than 20% last year, while rental rates have also been rising

Justin Trudeau’s government has announced it will ban foreign investors from buying homes in Canada for two years, in a bid to cool off a hot housing market.

The finance minister, Chrystia Freeland, took a number of measures to tamp down speculation and demand amid record home prices in announcing the federal budget for the year.

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