Chinese immigrants emerge as pivotal players in Canada’s property market amid foreign ban

Mainland Chinese immigrants were estimated to have bought as much as C$5.7 billion (US$4 billion) worth of homes in Canada last year, making them a key group of non-local investors propping up the residential property market, according to one estimate. Ottawa barred most foreigners from purchasing homes in 2023 to cool soaring prices, initially imposing the restriction for two years before extending it until 2027. The ban, however, exempted students, foreign workers and permanent residents. “A...