A grant scheme for renovating vacant houses could help to provide more residential property, according to a Labour Party TD.

Willie Penrose said it would help people who have inherited a second property but cannot afford to do it up.

It comes as Labour launched a housing Bill that would see rent linked to the Consumer Price Index and Nama’s housing remit broadened.

Recent Census figures show there are almost 200,000 vacant homes in Ireland.

The Longford–Westmeath TD Penrose said a grant system could bring some of them back to the market.

“It’s time that we looked at bringing back a grant system that would be modified for some people under €35,000 or €40,000, who own those houses, who may not have the money to put in the windows and modify them in such a way,” he said.