top of page

SAM

TABRIZI

November 2026: Canada's Foreign-Buyer Ban Extension Explained

Writer: Sam Tabrizi
Sam Tabrizi
4 hours ago
2 min read
Canada foreign-buyer ban extension to 2029 explained for Coquitlam buyers and sellers by Sam Tabrizi


Federal Budget 2026 proposes extending the prohibition on foreign purchases of existing residential properties to January 1, 2029, while exempting new residential properties. The government’s stated aim is to keep most of the market available to Canadians while encouraging investment in new housing supply.


Coquitlam resale homes and new condominiums under proposed federal foreign-buyer rules

This is a proposal, not enacted law. The federal government still needs to introduce legislation and complete a regulatory process before the extension and new-home exemption take effect. Detailed eligibility rules and an effective date for the new-home exemption have not yet been set, so buyers should not assume every pre-sale, assignment or recently completed home would automatically qualify.


For Coquitlam and the Tri-Cities, the proposal would keep resale homes under the federal restriction rather than letting it end on January 1, 2027, while a final new-home exemption could eventually open a path for some foreign buyers that is not available on comparable resale properties. B.C.’s separate 20% additional property transfer tax on covered foreign purchases in Metro Vancouver, including Coquitlam, Port Coquitlam and Port Moody, is unchanged.


Local buyers and sellers should treat this as continuity on the resale side and a monitor-only change for new construction until the legislation, regulations and exemption definitions are final. Anyone relying on an exception or considering a foreign-buyer purchase should get Canadian legal and tax advice before entering a contract. Contact Sam Tabrizi for a local market analysis and the questions to take to your advisers.



Sources


Comments

bottom of page