Home owners who buy another property could have to pay an extra 3% in value in tax, under new plans from the Scottish Government.
Deputy First Minister John Swinney said the move – which will affect those buying holiday homes as well as those investing in a buy-to-let property – is aimed at helping first-time buyers.
The Scottish Government has introduced an amendment to its Land and Building Transaction Tax (LBTT) legislation to require buyers who already have a residential property to pay an additional 3% of the value of any new purchases costing more than £40,000.
The charge, which is proposed to come into place from April 1 this year, could raise £23 million in 2016-17, according to the Scottish Government.
Ministers introduced the LBTT to replace the previous stamp duty charge that was paid by house buyers.
Mr Swinney said: “Our priority is to make sure that first-time buyers have the greatest possible chance to get a foot on the property ladder.
“That is why I decided to take action to avoid any potential distortions which could arise in Scotland from the new higher rates of stamp duty land tax payable on the purchase of additional residential properties, announced by the Chancellor of the Exchequer in his Autumn Statement on November 25 2015.
“This is particularly relevant to the purchase of additional residential properties, at the lower end of the market, which could make it more attractive to invest in such properties in Scotland compared to other parts of the UK.
“Our LBTT additional homes supplement will ensure that opportunities for first-time buyers to enter the housing market in Scotland remain as strong as they possibly can.”