Expert says relaxing foreign buyer ban would benefit B.C. housing market

Loosening the ban on foreign homebuyers would benefit British Columbia's housing market, an expert says in a story published by Global News BC.

The ban was launched on Jan. 1, 2023. At the time, the Bank of Canada was aggressively raising interest rates, and other global economic factors were weighing on homebuyers, according to the report.

For buyers, sellers and owners in Metro Vancouver, any change to who is allowed to purchase homes in B.C. would be a notable shift in the rules of the market.

The expert's name, the reasoning behind the view and the specific changes being proposed have not been made public in the material available so far. Whether any government is considering altering the ban is also unconfirmed.