Welsh Housing Minister Huw Lewis was in Risca on Monday to launch a new scheme to get empty houses back into use.
Wales has an estimated 22,000 empty private sector properties and the Welsh Government has pledged £5 million in funding to get them back in use.
The new ‘Houses to Homes’ Recyclable Loans Fund enables local authorities to offer loans to landlords to renovate empty run-down properties and return them to use as homes for sale or rent.
Landlords would repay the interest-free loan by a fixed period.
Housing, Regeneration and Heritage Minister Huw Lewis announced the scheme during a visit to a property in Risca currently undergoing refurbishment through an empty properties initiative.
“Empty homes are a wasted resource, especially at a time when demand for housing outweighs supply,” said Huw Lewis.
“Left unoccupied for long periods of time empty properties can blight our neighbourhoods as they become run-down or attract vandalism and anti-social behaviour.
“This fund will operate across Wales, helping return residential properties to their proper condition for use as a much needed and valuable home.
“Introducing this scheme fulfils a key Programme for Government commitment on our housing agenda to introduce a new empty homes initiative. The scheme can also support jobs in the home maintenance and construction sector.”
The ‘Houses to Homes’ Recyclable Loans Fund opens in April when landlords and owners of empty properties will be able to apply for loans through their Local Authority.