The Canada Mortgage and Housing Corporation (CMHC) has developed a new online tool that REALTORS® can use to determine if a property could be subject to the Prohibition on the Purchase of Residential Property by Non-Canadians Act. This tool represents a great improvement over the inadequate resources originally offered by CMHC.
The virtual guidance tool allows users to determine if a property is in a CMA (Census Metropolitan Area) or a CA (Census Agglomeration) by entering the exact address of the property into the tool, or manually clicking through the map. If a property is outside of a CMA or CA, it is excluded from the ban.
The tool can be found on the following CMHC website: Prohibition on the Purchase of Residential Property by Non-Canadians Act.
It can also be directly accessed through the following link: Census Metropolitan Area and Census Agglomeration Guidance Tool.
CREA has been asking for the development of this tool and we are glad to see it is ready. Please let CREA know if you encounter any issues with the tool so that they can pass that along to their partners at CMHC.