Wednesday, February 1, 2023

Canada fights home prices by banning foreigners from buying homes for two years



loss foreign national Can’t buy a house in Canada for the next two years. it’s the government’s decision Justin TrudeauThe aim is to cap the price of houses, which have increased by an average of 40% in the last two years.

,Houses are for people, not investors.“, defended Trudeau, who wants to block the entry of foreign investment funds. Where home prices have increased the most, Vancouver and Toronto have increased by 20%. The government will control it. fine of about 7,000 euros For both buyers and sellers, with the courts of justice of Canada’s 10 provinces that are in charge of controlling that buying and selling operations follow the criteria.

exceptions to Refugees, Permanent Residents, Students, Immigrants with Work Permits and Asylum Seekers, The measure is similar to a measure that New Zealand or Denmark already approved in 2018, which requires one to be resident in the country to be able to buy a home. In Malta, it is necessary to have a stable address for at least five years.

The opposite happens with us in Spain, encouraging foreigners to buy homes in our country. Since 2013, the Rajoy government has made it famous.golden visa‘: Those who spend half a million on foreign property get visas in our country. Registered as per latest data (2021) Around 7,500 ‘Golden Visas’ are now in forceWhich means 7,500 foreigners who have managed to live in Spain due to the fact that they have bought a house of at least half a million euros or a similar investment.

these purchases include 14% average of total sales, one out of every seven homes sold in Spain. What’s more, they’ve shot up 16% in just the third quarter of the year, levels never seen before, according to the College of Registrars. For five years, barring the pandemic, the trend has been upward.

Nation World News Desk
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