The Canada Mortgage and Housing Corporation (CMHC) has developed a new tool that can help REALTORS® determine if a property could be subject to the Prohibition on the Purchase of Residential Property by Non-Canadians Act (i.e. Foreign Buyer Ban).
This tool represents an improvement from the current resources offered by CMHC. The Canadian Real Estate Association (CREA) has been advocating for the development of this tool and we’re glad to see it online and available to members.
By entering the exact address of a property, or manually clicking through the map within the tool, users will be able to determine if a property is in a Census Metropolitan Area (CMA) or a Census Agglomeration (CA). If a property is outside of a CMA or CA, it’s excluded from the Act.
For information about the Prohibition on the Purchase of Residential Property by Non-Canadians Act, visit CMHC’s website.
