A Calgary man on work permit says the exemptions for international students and work permit holders are too limiting and says he and many other qualified workers feel 'forgotten' by the legislation.
In order for international students to qualify for an exemption, they must have filed income tax returns for five years before a purchase is made and be physically in Canada for at least 244 days in each of those years. The purchase price for a property also can't exceed $500,000.
"The thing is, it doesn't make sense," Aragao said. "So I came here, I studied for two years in a public institution and there's no way I could have been filing for five years.” continue to be major roadblocks for anyone looking to buy a home in Canada, with prices rising during much of the COVID-19 pandemic before falling slightly as interest rates have risen.found foreign buyers owned a small percentage of all residential properties in cities such as Toronto and Vancouver., wrote recently that non-residents, according to data from the Canadian Housing Statistics Program, only owned about two to six per cent of residential properties in 2020.
The British Columbia Real Estate Association in November 2022 said it was concerned that the policy will "create obstacles for homeownership for newcomers and can interfere with Canada's ability to attract immigrants."— 431,645 — in 2022 and plans to bring in 465,000 new permanent residents this year.
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