Singh vows to push foreign buyers from housing market, limit house-flipping

VANCOUVER — NDP Leader Jagmeet Singh says he wants to ban foreign buyers from purchasing homes in Canada.

Singh says a government led by him would close loopholes in the existing rules by barring numbered companies and corporate proxies from purchasing homes.

This prohibition would not apply to recreational properties like cottages and cabins.

Singh also says a NDP government would tax as income profits from the sale of a home sold within five years of the seller purchasing the home — unless it is someone’s principle residence.

The NDP leader says this measure is meant to prevent house-flipping.

The Liberals last year extended a ban on foreign residential homebuyers until 2027 — Singh says he would make it permanent.

This report by The Canadian Press was first published April 8, 2025.

David Baxter, The Canadian Press