Canada's federal budget report, due to be released on April 7, will include a new rule making it illegal for foreigners to buy any residential property in Canada.
However, Canadian permanent residents, foreign workers and students are exempt from the new measure.
Foreign nationals who purchase a home in Canada as their primary residence are also exempt.
The Liberals campaigned in 2021 on a promise to implement a new "first-home savings account tax-free" scheme.
The account will allow Canadians under the age of 40 to save up to $40,000 for their first home, which is tax-free when purchasing a home.
The housing problem has been going on in Canada for several years. As a country of immigration, at least 300,000 immigrants come to Canada every year. However, the housing supply in various places is subject to very slow growth due to various factors, resulting in a continuous rise in housing prices.
Some foreign capital then entered Canada's real estate market to invest and profit, which further pushed up housing prices and caused dissatisfaction among the public.
(Headquarters reporter Zhang Sen)