Despite Canada’s low default rate, mortgage holders are concerned about increased monthly payments ahead. As the last of the pandemic-era mortgages come up for renewal, one third of Canadian
FOREIGN BUYER BAN - ARE COTTAGES INCLUDED?
Dated: April 6 2026
Views: 8583
Foreign Buyer Ban Extended to 2027- Are Cottages Included?
The Foreign Buyer Ban ban, during which some foreign buyers are prohibited from purchasing residential property in Canada was extended again, to 2027. There are exceptions for residential properties in less-populated areas. Enter the address of your property of interest here to confirm whether this ban applies to you read on> . The rules currently apply to three zones ie Census Metropolitan Influenced, Census Census Metropolitan Areas, and Census Agglomerations! In general this excludes Muskoka but does include Kawartha Lakes and Haliburton. Within those Kawartha Lakes and Haliburton zones it applies only to residential properties with three or fewer dwelling units and exemptions include recreational properties such as cottages, cabins and other vacation homes.
If you are a foreign buyer be sure to speak with your local realtor and accountant regarding your eligibility prior to considering any Ontario cottage/cabin country purchase.
Be aware that non-residents who buy a home or realtors and lawyers who help them can face a conviction and fine of up to $10,000. The federal government can also apply to the superior court in the province where the home was purchased for an order to sell the property.
Buyers can expect realtors to ask more questions and request additional documentation from all clients because of this legislation.
CMHC NEWS RELEASE ON BUYER BAN
As an added layer of tax navigation also be sure you ask your accountant about the implications to your situation with respect to the non-resident speculation tax here in Ontario.
NON RESIDENT SPECULATION TAX-ONTARIO
Contact Mark or Susan now for help with your real estate investment options in Ontario Cottage Country. Need an accountant? We'd be happy to refer one.
Susan Benson
Put competent experience to work for your Muskoka and Ontario Cottage Country real estate investments with Susan & Mark Benson. Susan is a graduate of Havergal College and Queen's University and brin....
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Foreign Buyer Ban Extended to 2027- Are Cottages Included?The Foreign Buyer Ban ban, during which some foreign buyers are prohibited from purchasing residential property in Canada was extended,