Market brief · The Americas
Investing in Canada
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Buying in Canada
Country guide · 22 minCanada Investor GuideInvesting in Canada, Navigating the Foreign-Buyer Ban, Provincial Surcharges, and the 2026 Market ResetForeign-Buyer BanG7 StabilityHigh SurchargesRead the guideCities3 guides
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City guide · 7 minMontrealMontreal is Canada's second-largest city and the cultural capital of French-speaking North America, a metropolitan area of around 4.6 million people that has become the best-performing major housing market in the country. More affordable than Toronto or Vancouver, it combines a deep student and talent base, McGill, Concordia, UdeM and UQAM, with a creative economy and a distinctive European character in neighbourhoods like the Plateau and Old Montreal. Crucially for foreign investors, Quebec imposes no provincial foreign-buyer tax, a relative advantage over British Columbia and Ontario, although the federal foreign-buyer ban still applies. While Toronto and Vancouver correct in 2026, Montreal is forecast to keep growing.
City guide · 7 minTorontoToronto is Canada's largest city and financial capital, anchoring a metropolitan area of roughly 7.1 million people and home to the Toronto Stock Exchange and the country's major banks. It is the deepest, most liquid property market in Canada, spanning a dense downtown condo market, established residential neighbourhoods and fast-growing transit corridors. For international investors the city is defined as much by regulation as by fundamentals: the federal foreign-buyer ban applies in full (Toronto is a Census Metropolitan Area), and Ontario's 25% Non-Resident Speculation Tax plus the City of Toronto's 10% municipal NRST stack to a 35% surcharge where a purchase is permitted. 2026 is a reset year, with prices down mid-single digits year-on-year and elevated condo inventory shifting leverage toward buyers, even as multi-decade-low condo starts point to a future supply squeeze.
City guide · 7 minVancouverVancouver is Canada's Pacific gateway and most expensive housing market, a metropolitan area of roughly 3.1 million people set between the ocean and the North Shore mountains. Its property market spans glass-tower condos in Coal Harbour and Yaletown, beachside Kitsilano, and dense transit-oriented corridors. For international investors the city is heavily regulated: the federal foreign-buyer ban applies (Metro Vancouver is a Census Metropolitan Area), British Columbia adds a 20% foreign-buyer tax in the region, and the Speculation & Vacancy Tax rises to 3% for foreign owners in 2026. The market is in a 2026 reset, with the benchmark down nearly 7% year-on-year and a further decline forecast, giving buyers leverage while supply scarcity and the coming Broadway Subway underpin the long run.Neighbourhoods21 guides
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