A new tax is being considered in the UK on foreign property owners there.
Chancellor George Osborne is believed to be giving thought to a capital gains tax levied on property owned by foreigners as one way to address fears of a price bubble in London and the South East.
The measure has already been costed by the Treasury and could be announced in the Autumn Statement which will be delivered in December.
A blanket mansion tax on high end properties had been under discussion, but some property analysts believe that a capital gains tax would cause less tumult in the UK housing market.
Last year, the Chancellor brought in a 7% stamp duty on houses costing more than £2m and annual charges for buyers have houses in a company rather than as individuals.
Already that stamp duty has brought in £708 million from residential properties just in the Westminster and Kensington & Chelsea. The revenue exceeds the combined total for Northern Ireland, Wales, Scotland, the North East, North West and Yorkshire and the Humber.
