This measure had been proposed by Prime Minister Justin Trudeau during the 2021 election campaign. His Liberal party had deplored that foreign investors were driving up prices, making it more difficult for Canadians to access property. She was adopted in the spring.
However, the real estate market has slowed down recently under the effect of the interest rate hike decided by the Central Bank to curb inflation. According to the association of real estate agents, the average price of a house was 630,000 Canadian dollars (465,000 US dollars, 435,000.00 euros) last month, compared to 800,000 a year ago.
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