February 2024 update. The 2 year foreign buyer ban originally introduced in 2022 has been extended until 2027. Original post. As we are nearing the end of 2022 we will be faced with new regulations coming to life as of January 1, 2023, one of them is a temporary 2 year foreign buyer ban. The temporary ban is introduced with the intent of making housing more affordable for Canadian residents. Any contractual obligations arising from the contracts signed prior to January 1, 2023 will... [read more]