Can Non-Canadians Buy Property in Canmore?

Can non-Canadians buy property in Canmore? For most foreign buyers the answer is no until January 1, 2027, because of a federal law rather than anything the Town has done. The Prohibition on the Purchase of Residential Property by Non-Canadians Act applies in every census metropolitan area and census agglomeration in the country, and Canmore is one. The exemptions are narrow and specific, the penalties fall on everyone involved in a breach, and a foreign buyer who does qualify then walks into Canmore’s own tax on part-time homes. Here is the current position, quoted from the legislation.

What the federal foreign-buyer ban says

The Act, in force since January 1, 2023, is one sentence long where it matters: “it is prohibited for a non-Canadian to purchase, directly or indirectly, any residential property” (s. 4(1), Justice Laws, current to June 21, 2026). A non-Canadian is an individual who is not a Canadian citizen, a permanent resident or a person registered under the Indian Act; a corporation incorporated outside Canada; or a Canadian corporation controlled by such a person or entity. Residential property is a detached house or building of up to three dwelling units, or a part of a building such as a semi-detached house or condominium unit, together with its land.

The measure was originally set to expire on January 1, 2025. On February 4, 2024 the federal government announced a two-year extension to January 1, 2027 (CMHC). As of August 2026 it remains in force.

Does the ban on non-Canadians buying property apply in Canmore?

Yes. The Regulations limit the prohibition to residential property in a census metropolitan area or a census agglomeration as defined by Statistics Canada’s Standard Geographical Classification 2021. Canmore is a census agglomeration in its own right (Statistics Canada, 2021 Census, population 15,990). That means every condo, townhome, half-duplex and detached home in town, and in the parts of the surrounding MD of Bighorn that fall within the Canmore CA, is covered. Statistics Canada does not publish a plain-language hamlet list for the CA boundary, so if you are looking at Exshaw, Harvie Heights, Lac des Arcs or Dead Man's Flats, have your lawyer confirm the parcel's census geography before you rely on being outside the ban. Properties in rural areas outside any CMA or CA are not, which is why some foreign buyers look at recreational property elsewhere in Alberta; that does not help in Canmore.

Which non-Canadians are exempt from the ban?

The Act (s. 4(2)) and Regulations (ss. 5–6) list the exceptions. In plain terms:

Vacant land has been outside the ban since the March 27, 2023 amendments (CMHC), and there is a development-purpose exception; both need legal advice before anyone relies on them to build in Canmore.

What counts as residential property, and what does not

The Act covers homes of up to three units and parts of buildings such as condo units. It does not cover:

• buildings with four or more dwelling units bought as a whole;
• vacant land, since March 27, 2023;
• property outside a CMA or CA.

Tourist-home zoning, hotel-condo status and the Town’s assessment classes make no difference to whether a unit is “residential property” under the federal Act. Some hotel-condo interests are structured commercially; whether a particular one falls outside the definition is a legal question, not a marketing claim.

What happens after January 1, 2027?

Nobody knows yet. The ban has been extended once, by two years, and could be extended again, replaced or allowed to lapse. Non-Canadians who intend to purchase property in Canmore in 2027 should not pay deposits on that assumption, and sellers should not plan around a wave of overseas demand. Watch the Department of Finance and CMHC pages; we will update this post when there is a decision.

If you can buy: taxes and financing for non-resident owners

An exempt non-Canadian, or a Canadian citizen living abroad, who is not caught by the Act at all, faces two Canmore-specific costs that Albertans do not.

Livability Tax. From the 2026 tax year, a home that is not a primary residence for at least 183 days pays a higher rate of roughly 0.377% of assessed value a year. The 2026 provincial exemption covers only properties with an Alberta resident on title (Rocky Mountain Outlook), so a non-resident’s holiday home pays it. The declaration is due December 31; miss it and the higher rate applies automatically. The Livability Tax guide has the detail.

Financing. Canadian lenders typically require larger down payments from non-resident borrowers, in the range of 35%, and more documentation. Non-resident lending sits outside insured mortgage rules, so the requirement is lender policy rather than a published rule and varies between institutions. A licensed Canadian mortgage broker with non-resident experience is essential; see the mortgages guide.

Federal Underused Housing Tax. The UHT is gone. The amendments eliminating it were tabled with Budget 2025 on 4 November 2025 and Budget 2025 Implementation Act, No. 1 received Royal Assent on 26 March 2026, so affected owners do not file a UHT return or pay the tax for 2025 or later years. The obligation to file and pay for 2022, 2023 and 2024 still stands, which matters if you are buying from an owner who never filed.

What this means if you’re buying

If you are a Canadian citizen or permanent resident, wherever you live, the ban is not your problem. The Livability Tax and financing are, and the non-resident buyers guide walks through both. Whether non-Canadians can buy property in Canmore turns on the exemption table, so check it with an Alberta lawyer before you look at a single listing: a work permit with 180 days left, or a second Canadian purchase, takes you out of the exemption. And if you are hoping to buy after January 1, 2027, stay in touch. Our guide to buying property in Canmore from a distance covers how to prepare so you can move quickly if the law changes.