The Urban Development Institute includes Bennett Jones' analysis of the Prohibition on the Purchase of Residential Property by Non-Canadians Act (Act) in the UDI Federal News update. The Act went into effect on January 1, 2023, and is in place for two years.
The accompanying regulations were released on December 21, 2022, and clarify several key sections of the Act, including key definitions of applicability and exemptions. Details are available in the Bennett Jones blog, New Rules for Foreign Home Buyers in Canada Come Into Force January 1, 2023: Here's What You Need to Know.
