Ottawa Seeking to Include Exemptions in Bill Banning Foreign Investment in Canadian Residential Property

New houses under construction and for sale in Airdrie, Alta., on Jan. 28, 2022. The Canadian Press/Jeff McIntosh

Ottawa is seeking to add exemptions to a bill that temporarily bans foreigners from purchasing residential property in the country, according to the Canada Mortgage and Housing Corporation (CMHC).

Bill C-19, an omnibus budget bill that includes enacting the Prohibition on the Purchase of Residential Property by Non-Canadians Act, received royal assent on June 23. The act is set to come into force on Jan. 1, 2023.