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2022 01 13 12 54 29

It’s no secret that the federal government is eyeing reforms to investment properties in an effort to help reel in runaway house prices.

In a mandate letter sent from the Prime Minister in December, Housing Minister Ahmed Hussen was specifically directed to “review the down payment requirements for investment properties” and develop policies to “curb excessive profits” in that housing segment.

In 2021, over a quarter of all home purchases were made by buyers who already own a home—investors in many cases—according to data from Teranet.

“…our government is looking at every tool at our disposal to tackle these challenges head on,” the Ministry of Housing and Diversity and Inclusion and Canada Mortgage and Housing Corporation (CMHC) told the Financial Post in a statement. “By developing policies to curb excessive profits in investment properties, protecting small independent landlords and Canadian families, and reviewing the down payment requirements for investment properties, we are targeting the issues the market is facing from multiple angles.”

The government has not yet released details on potential changes to investment property down payment rules that are being considered, nor has it provided a timeline for any announcements.

Currently, non-owner-occupied rental properties in Canada with up to four units require a down payment of at least 20% by most lenders.

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Jon Nichols

Jon Nichols
CIR Realty
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