Canada Bans Nigerians, Others from Purchasing Property for 3 Years

Canada Bans Nigerians, Others from Purchasing Property for 3 Years

  • The Canadian government announced plans to limit ownership of houses to Canadians
  • The move will reportedly affect Nigerians and other foreigners in the country
  • The move comes amid the housing deficit in Canada, which has seen a decline in owner-occupied homes

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Canadian authorities have extended the two-year ban on foreigners’ ownership of houses due to affordability challenges.

The ban, previously set to expire on January 1, 2025, has now been extended to January 1, 2027.

Canada bars foreigners from owning houses
Canadian prime minister, Justin Trudeau
Credit: Bloomberg/Contributor
Source: Getty Images

Non-Canadians excluded from owning homes

Before the extension, non-Canadians, including Nigerians, were not eligible to own houses in the country.

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A statement from the Department of Finance said that foreign commercial businesses and non-Canadians or permanent residents will continue to be barred from purchasing residential property in the country.

The development comes amid the housing crisis in the country.

According to reports, between the two Canadian censuses in 2016 and 2021, the number of Canadians living in owner-occupied homes dropped from 69% to 66.5%, the lowest number since 2022.

The government said it is trying to build more homes faster and put home ownership back within reach for more Canadians.

Canada’s deputy prime minister, Chrystia Freeland, said that by extending the foreign buyer ban, the country would ensure houses are used as homes for Canadian families to live in and do business and not become a speculative financial assets class.

Canada moves to cut down on foreign students

He said:

“The government is intent on using all possible tools to make housing more affordable for Canadians across the country.”

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Canadian province bans Nigerian students, others for 2 years

The Canadian government recently announced plans to set a two-year limit on the intake of international students from 2024 to control its population and address the housing deficit in the country.

The new policy bars the issuance of work permits to postgraduate students upon graduation.

The government enacted the Prohibition on the Purchase of Residential Property by the Non-Canadians Act in 2022 to bar international investors from acquiring residential property in the country and ensure the housing market remains available for indigenous people.

The new policy hopes to usher in mortgage hopes as Canada welcomes a record-breaking 485,000 new permanent residents in 2024.

Canada announces changes to temporary foreign workers scheme reported that Canada’s Immigration minister, Marc Miller, has disclosed that the country may impose restrictions on temporary foreign workers beginning in January 2024 to manage population growth and the housing crisis in the country.

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The reforms would affect international students, including Nigerians and other foreign workers.

Miller announced this during a press briefing as he unveiled plans to limit the entry of temporary foreign workers into the country.



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