It will not be easy for foreigners dreaming of owning a home in Canada.
The new announcement of the Trudeau government has created obstacles in its path. Canada on Sunday extended a ban on foreign ownership of Canadian housing for two years.
The government says its purpose is to address the concerns of Canadians. The citizens here are not able to build houses due to the continuously rising prices.
It is worth noting that the Trudeau government had banned foreigners from buying property in the country in the year 2023 itself. At that time it was said that due to continuous investment by foreigners in Canada, prices have started skyrocketing. Due to this, Canadians are not able to buy property.
housing problems
The housing problem is continuously increasing in Canada. The increasing number of migrants and international students is being held responsible for this. Due to this, the demand for houses has increased, while due to rising inflation, construction work has slowed down.
Canadian Deputy Prime Minister Chrystia Freeland said in a statement that all efforts are being made to provide affordable housing for Canadians.
Under this, the ban on foreigners buying houses has been extended by two years. Earlier it was ending on January 1, 2025, now its deadline will be January 1, 2027.
Trudeau under pressure
The Government of Canada also says that due to the increasing interference of foreigners, house prices in Canadian cities and towns have increased significantly. Last month, Canada also imposed a two-year ban on granting permits to international students.
He also said that he will stop giving work permits to some students after graduation. In fact, the rapidly increasing population in Canada has put a lot of pressure on health and education.
Apart from this, house prices have also increased very rapidly. These issues have put pressure on Liberal Justin Trudeau. Opinion polls are showing that if elections are held now, Trudeau may lose power.