At its party conference, it revealed that this could raise up to £120m which will be used to help rough sleepers.
The Conservatives added that stamp duty has been abolished for 80% of first-time buyers, which will help families get a foot on the housing ladder.
- Spring Statement 2018: London to receive £1.67bn for further affordable homes
- Theresa May promises to build more homes, more quickly
- Government calls for industry input on homebuying process
“At the moment, foreign individuals and companies who don’t live in the UK can buy homes as easily as people who actually live here - driving up house prices and making homes less affordable for ordinary people,” the party stated.
“Britain will always be open to people coming here to live, work and build a life.
“Our plan for more homes will help them have the opportunity of a great place to live and raise a family.”
Last month, the government introduced two new housing funds to help deliver 300,000 new homes a year by the mid-2020s.