A restoration grant of up to €25,000 is being offered to encourage owners of unused buildings to turn them into social housing.

Housing Parliamentary Secretary Roderick Galdes said on Tuesday that owners of “dormant properties” would be given restoration and rehabilitation funds and then be given a 10-year rental agreement with the Housing Authority.

“These unused properties are giving nothing to their owners. Through this scheme we hope to provide housing for those in need and revitalise dilapidated buildings – something that has long needed addressing,” Mr Galdes said.

The grant covers extraordinary structural works, repairs, plumbing and electricity works, the installation of bathrooms, and works to restore the buildings' façades.

Works would have to be completed within 12 months of receiving the grant.

Mr Galdes said the rental price agreement would then be reached between the property owner and the authority with this then increasing by around two per cent annually.

The parliamentary secretary said that eligible properties would have to be older than 30 years and have to have been vacant for at least one year.

The properties must not require more than €25,000 to be made habitable.

The scheme, Mr Galdes said, was not only attractive as the funds were considerably higher than other property restoration projects, but it would also see property owners enjoy secure income. The Authority will pay rents six months in advance.

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