We’ve previously written about how the Nova Scotia Non-Resident Deed Transfer Tax may impact foreigners hoping to buy land in Nova Scotia. But here we’re discussing a different type of legislation (the federal government’s Prohibition on the Purchase of Residential Property by Non-Canadians Act, which came into effect Jan 1, 2023). This Act is far more impactful on the ability of foreign residents to buy land in Nova Scotia. And for a change, there’s good news to share.
Today the CBC posted an article titled “Federal Government eases some restrictions on non-Canadians purchasing property.” The government is walking back restrictions that were passed into law earlier in 2023.
Here’s some good news. People from outside Canada who have a work permit or are allowed to work here can now buy a home. Just make sure you have 183 days or more left on your permit and only buy one property.
What about buying vacant land? Yes, one of the included amendments repeals the existing provision so that foreign buyers are not prohibited from buying vacant land. The zoning of the plot of land is important. Non-Canadians and foreign businesses can now purchase vacant land that is zoned as residential or mixed use. After purchase, the vacant land can be used for any purchase by the buyer, including development of residential properties.
This is a welcome change as we are in the midst of a housing shortage crisis in Canada, particularly in areas like Nova Scotia that are seeing high levels of immigration. Allowing foreign residents to purchase vacant land in Nova Scotia, and develop into affordable housing, will help reduce market pressures and support Nova Scotia’s economic growth.
If you’re ready to start your journey to buy land in Nova Scotia, we recommend starting with our Guide: How to Buy Land in Nova Scotia – it’s loaded with advice for first-time land buyers in NS and written specifically for someone shopping from a distance. In it, you’ll also find links to the various Nova Scotia land use bylaws and zoning maps, statistics on land sales in Nova Scotia, and so much more.