Government policies play a critical role in shaping the landscape of the real estate market. In this blog, we examine the key government policies that have affected, and will continue to affect, the Canadian housing market..

Key Policies:

• Foreign Buyers Tax: Provinces like British Columbia and Ontario have implemented taxes aimed at curbing foreign investment in the housing market to keep homes affordable for locals.
• First-Time Home Buyer Programs: These programs aim to assist first-time buyers with down payments and other financial aspects of purchasing a home.
• Rent Control: In some provinces, rent control policies are in place to limit the rate at which landlords can increase rent, ensuring affordability for renters.

Future Impacts: As the government works to address housing affordability, we can expect more initiatives targeting supply, including new construction projects and zoning changes that make it easier to build more homes.