Bureau Desk – To cool off the shooting prices of housing, Trudeau Government has announced that it will ban foreign investors in housing for two years.
The Government has announced two year ban on foreign investors buying home and also to implement higher taxes for people who sell their home within one year time period . Whereas, both directions are issued for Parmanent Residents and Foreign students.
The Government is coming up with new measures and budget of billions to bring Canadian players in the market. The measures include new saving account and changes to the first time home buyers tax credit.
The Canadian government is trying to bring down the constantly rising housing prices that has gone up by more than 20 percent last year. The rental rates of houses have also increased.
