Federal rules aimed at making homes more affordable for Canadians may prevent temporary residents from buying residential property in urban areas
is likely to add demand to an already overheated rental market, some housing experts say.
Most temporary residents rent during their first few years settling in Canada, Mr. Tal said. But the rules will likely force some newcomers who would have otherwise bought a home to become renters, while others who already rent here may have to push back their homebuying plans, he added. “These are people who made a commitment to be in the work force, to live here,” he said. And some are highly paid professionals who’d normally sell their homes in their country of origin and buy a house in Canada in cash, he added.declining real estate pricesInternational students and recent graduates of Canadian postsecondary institutions who have work permits are also among those who may be forced to rent for longer than planned because of the ban, according to Mr. Rekai.
According to the latest available data from Statistics Canada, which predates the pandemic housing boom, properties with at least one non-resident owner accounted for 9 per cent of the residential housing stock in Vancouver and 5 per cent in Toronto. IRCC has been trying to reduce processing logjams caused by the pandemic and ramped-up immigration targets. The ministry said by e-mail that permanent residency applicants chosen through Express Entry, a federal program meant to prioritize desirable skilled immigrants, can expect processing time to be within the program’s six-months service standard.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Tasha Kheiriddin: Canadians shouldn't be dying because of health-care ideologyTasha Kheiriddin: Canadians shouldn't be dying because of health-care ideology cdnpoli
اقرأ أكثر »
Tasha Kheiriddin: Canadians shouldn't be dying because of health-care ideologyICYMI - Tasha Kheiriddin: Canadians shouldn't be dying because of health-care ideology
اقرأ أكثر »
The U.K. and Italy are the most-liked countries for Canadians, poll findsA new survey shows Canadians have favourable and positive opinions of the U.K., Italy, Japan and France, 'all things considered.' about these countries.
اقرأ أكثر »
50 per cent of Canadians infected with COVID suffer from long-term symptoms: studyLong COVID is now officially labelled as “Post COVID-19 Condition” by the World Health Organization.
اقرأ أكثر »
Many Canadians feel hosting sporting events like Olympics a waste of moneyMany Canadians have mixed feelings about hosting future world sporting events, according to the Department of Canadian Heritage.
اقرأ أكثر »
Many Canadians feel hosting sporting events like Olympics a waste of moneyMany Canadians have mixed feelings about hosting future world sporting events, according to the Department of Canadian Heritage.
اقرأ أكثر »