New Year’s Day may have marked the beginning of the end of the Canadian foreign buyer’s ban.

The restriction on foreign ownership of real estate in Canada is scheduled to come to an end on Jan. 1, 2027. It was introduced back in 2023 and extended in 2025 in an attempt to get prices under control.

According to increased chatter in the real estate business, Prime Minister Mark Carney is considering pulling the plug when it expires, thus allowing more foreign buyers back in the game. Those in the building business in Toronto and Vancouver are hoping that’s the case. The condo markets in those locales are struggling badly.