Can You Buy a Home in Vancouver Without Permanent Residency?

If you’re new to Canada or considering a move to British Columbia, you may be wondering: Can I buy a home in Vancouver without being a permanent resident (PR)? The short answer is yes—but with conditions. Vancouver’s real estate market has unique rules for non-residents and temporary residents, especially in light of recent changes in Canadian housing policy.

This guide will break down:

• Who is considered a non-resident
• Foreign Buyer Ban and exemptions
• What types of properties you can buy
• Financing options and down payment requirements
• Taxes and closing costs specific to non-PR buyers
• Risks and considerations

Let’s dive in.

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1. Who Is Considered a Non-Resident in Canada?

In Canadian real estate, you are considered a non-resident for tax purposes if you don’t have:

• Canadian citizenship
• Permanent residency (PR)
• Significant residential ties to Canada (as per CRA)

This includes:

• International students
• Temporary foreign workers
• Visitors and tourists
• Refugee claimants

Your immigration status is key when it comes to eligibility, financing, and taxes.

Read more: What Happens If You Can’t Afford Your Mortgage in Vancouver?

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2. Understanding the Foreign Buyer Ban (2023–2026)

In January 2023, Canada introduced the Prohibition on the Purchase of Residential Property by Non-Canadians Act. This ban is currently in effect until January 1, 2027 and applies to:

“Non-Canadians attempting to buy residential property in census metropolitan areas and census agglomerations, including Metro Vancouver.”

Source: Government of Canada Foreign Buyer Ban

However, there are notable exemptions:

• International students who have lived in Canada for at least 244 days each year for the past 5 years and filed income taxes
• Temporary workers with valid work permits and 3+ years of tax filings
• Refugees and protected persons
• Spouses/common-law partners of Canadian citizens or PRs

If you qualify under one of these categories, you may be able to buy. Consult a lawyer for confirmation.

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3. What Types of Properties Can You Buy as a Non-PR?

Even if you qualify under an exemption, the ban still restricts residential properties such as:

• Detached homes
• Townhomes
• Condos (strata units)

Non-residents are still allowed to purchase:

• Commercial properties
• Multi-family buildings (4+ units)
• Recreational properties in non-banned zones

Use CMHC’s property lookup tool to confirm if your property type and location are covered under the ban.

Tool: CMHC Ban Property Lookup

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4. Can You Get a Mortgage Without PR?

Yes, but it’s more complicated.

If you don’t have PR or citizenship, you can still qualify for a mortgage from select Canadian banks and credit unions. Requirements may include:

• 35% down payment (vs. 5-20% for residents)
• Proof of income in Canada or abroad
• Canadian credit history or international credit reports
• A Canadian co-signer (optional but helpful)

Major lenders that offer mortgages to non-residents:

• RBC RBC Non-Resident Mortgage
• TD Canada Trust
• CIBC

Expect stricter lending rules and interest rate premiums.

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5. Additional Taxes and Costs for Non-PR Buyers

If you’re not a PR or citizen, you may face additional taxes, including:

a) Property Transfer Tax (PTT)

• Standard for all BC homebuyers: 1%-3% depending on property value

b) Additional Property Transfer Tax (Foreign Buyer Tax)

• 20% of the purchase price for foreign nationals
• Applies in Metro Vancouver, Fraser Valley, and other key areas
• Exemptions apply for spouses and temporary residents under specific programs

Source: BC Additional Property Transfer Tax

c) Empty Homes Tax / Speculation Tax

• If you don’t occupy or rent out the unit long-term, you may owe 0.5%-2% annually
• Applies to homes left vacant for 6+ months

Source: BC Speculation and Vacancy Tax

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6. What Are the Risks and Things to Watch For?

• Currency exchange rate risks if you’re earning in foreign currency
• Property tax residency complications if you move between countries
• Financing delays due to stricter documentation checks
• Limited exit strategy: harder to assign or resell pre-sale units under the foreign buyer ban

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7. Final Thoughts: Should You Buy Without PR?

Buying a home in Vancouver as a non-PR is possible, but expensive and complicated. If you:

• Have a valid work/study permit and meet exemption criteria
• Can afford the 20% foreign buyer tax and 35% down payment
• Plan to live long-term in BC

…then homeownership can be a worthwhile step toward stability and future PR eligibility.

However, if you’re unsure of your long-term plans or don’t meet the exemption rules, it may be safer to rent temporarily while building up your immigration status and savings.

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✅ Key Takeaways

• You can buy property in Vancouver without PR if you qualify under specific exemptions
• Be prepared to pay higher down payments and extra taxes (e.g., 20% foreign buyer tax)
• Always consult a real estate lawyer and mortgage broker before buying
• Use official tools and sources to check if your status or property is affected

Buying without PR is possible—but not easy. Plan wisely and get professional help to avoid costly surprises.