Buying Property in Canada: Prices by City and Rules for Foreign Buyers

Detached houses for sale in Canada form the majority of listings. Apartments and condos are concentrated in Toronto, Vancouver, Montreal and Calgary. Condos come with monthly fees and a status certificate that reveals the reserve fund health; always read it before buying.

Land listings, at 13,787, include rural acreage, recreational lots and building plots, and you can browse land in Canada. Commercial property ranges from retail units to farms and multi-unit buildings. If you are watching budgets, the cheap property page lists homes under €200,000, often in small towns or the Prairies.

This is the key question. Canada's federal Prohibition on the Purchase of Residential Property by Non-Canadians Act came into force on 1 January 2023 and was extended to 1 January 2027. In outline:

• Banned: non-Canadians (individuals who are not citizens or permanent residents, and certain corporations) generally cannot buy residential property in or near cities. It applies in census metropolitan and census agglomeration areas.
• Exceptions include: permanent residents, some work-permit and study-permit holders who meet conditions, refugees, and purchases of recreational properties outside the covered areas. Commercial property and land with more than three residential units are generally outside the ban.
• Status: the ban is scheduled to end on 1 January 2027; as of October 2026 no further extension had been announced, and reports suggest Ottawa is weighing a replacement framework. Confirm the current position with a Canadian lawyer.

On top of that, provinces apply foreign buyer taxes. British Columbia charges 20% in designated regions, and Ontario charges a Non-Resident Speculation Tax of 25%, with rebates in certain cases. Read our Canada consultation guide for the checklist.

1. Confirm that you are eligible to buy the type of property you want.
2. Hire a real estate lawyer or notary (Quebec uses notaries) and a realtor.
3. Get pre-approved for a mortgage or show proof of funds.
4. Make an offer with a deposit, usually 5% of the price. Offers include conditions such as financing and inspection.
5. Complete due diligence: home inspection, title search, condo status certificate.
6. Close, typically 30 to 90 days after acceptance. The lawyer registers the transfer and pays land transfer tax.

All figures are approx. and should be verified locally. Many rates are provincial.

Non-residents can sometimes get a Canadian mortgage, but lenders usually ask for 35% or more as a down payment, proof of foreign income and a credit file. Mortgages in Canada are typically fixed for up to five years and amortised over 25 years. Compare options in our mortgage calculator and read the Canada financing guide.

Buying property does not give residency. Canada runs points-based and employer-sponsored routes through Express Entry and provincial nominee programs, and no longer offers an investor visa for passive property investment. See our Canada market analysis for the economic picture.

Pros

• Stable legal system and strong property rights.
• Huge variety, from city condos to lakefront cabins.
• Affordable Prairies markets.
• Deep rental demand in big cities.

Cons

• Restrictions on foreign purchases of residential property.
• Heavy foreign buyer taxes in BC and Ontario.
• Very high prices in Vancouver and Toronto.
• Winter costs and long distances between towns.