Industry and legal experts said Canada's foreign homebuyer

 

Industry and legal experts said Canada's foreign homebuyer ban impacted deals involving land, malls, grocery stores, and office buildings.  The law came into effect in January and banned foreigners from buying residential properties for two years.  The law bans foreign investment in land zoned for residential or mixed-use, including commercial land.  The head of the Canadian Home Builders' Association (CHBA), Kevin Lee, said deals are falling through daily.  The ban has created a big roadblock for residential developer Dorsay Development Corp., owned by a European investor.