An overview of housing society in Canada - Simplifying Buying Home in Canada An overview of housing society in Canada - Simplifying Buying Home in Canada


Newcomers to Canada: A Guide to Simplifying the Home Buying Process.


People from all over the globe frequently choose Canada as a place to live, work, and establish permanent residence. Due to some legal limitations, it was not always simple for non-Canadians to purchase a house in Canada. 

However, there is good news: the Canadian government recently changed some of those limitations, making it more straightforward for newcomers and native Canadians to buy a house. Financial organisations can now provide tax-free first-home savings accounts as of April 1. This fulfils a promise stated in the Budget 2022.

Steps toward Simplifying Buying Home in Canada

Housing Prices in Canada

As per the Canadian Real Estate Association (CREA), the real national average home price in February 2023 was 662,437 CAD, down 18.9% from the previous high in February 2022. Although the price decrease may appear significant, it should be remembered that it follows a period of sharp price increases over the previous few years.

As the national average home price is predicted to drop 5.9% annually in 2023, the reduction in home prices is anticipated to continue. Although this may be excellent news for those looking to buy a home, it is essential to remember that Canadian property is still pricey compared to many other nations.

A sign showing house for sale in Canada - Simplifying Buying Home in Canada

Reduced Restriction for foreign homebuyers

Recent amendments made by the Canadian government will make it simpler for non-Canadians to own residential property. These modifications follow the introduction of a new law by the government that forbade non-Canadians from buying residential real estate. 

Now that the Prohibition on the Purchase of Residential Property by Non-Canadians Act has been modified, there are fewer constraints for Canadian home buyers with work permits.

On March 27, 2023, the Canada Mortgage and Housing Corporation (CMHC) stated that non-Canadians with work permits may now buy mixed-use residential and commercial land if specific requirements are met. The modifications took effect the same day they were announced.

Tax filing documentation is no longer required.

Non-Canadians with work permits might theoretically buy a property in Canada, notwithstanding the prohibition on the purchase of housing Property by the Non-Canadians Act, but only if they complied with specific requirements.

  • One of the requirements was that they had to submit all applicable Income Tax Act returns for at least three of the four tax years before the year of the transaction.
  • Suppose the work is full-time as defined in paragraph 73(1) of the Immigration and Refugee Protection Regulations. In that case, the applicant must have worked in Canada for a minimum of three years within the four-year period. 


It's easier than ever for newcomers to purchase a home in Canada. Making your dream of homeownership, a reality has never been simpler, thanks to lowered limitations, streamlined procedures, and helpful programmes. You can confidently navigate the Canadian housing market and locate a place to call your own with the correct information and direction.


Are there any costs or taxes incurred when a non-Canadian resident purchases a home in Canada?

Yes, extra charges and taxes like the land transfer tax and the non-resident speculation tax may apply to non-Canadian residents.

How can I locate a real estate agent in Canada to assist me in purchasing a home?

You can use the website of the Canadian Real Estate Association to look for registered real estate brokers and agents, or you can get recommendations from friends or coworkers.


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