Gwynedd in north-west Wales has the highest number of empty properties in the UK, with 5,286 empty properties for every 100,000 people.
Pembrokeshire in South West Wales has the third highest number of empty homes in Wales with 4,331 empty homes per 100,000 people.
Ceredigion in west Wales is fifth with 3,595.
Alan Boswell Landlord Building Insurance blamed the influx of holiday homeowners for the result.
In fact, three quarters (74 per cent) of vacant properties in Pembrokeshire belong to people who own a second home.
Welsh First Minister Make Drakeford said: 'Tourism is vital to our economy.
But too many holiday properties and second homes sit empty for much of the year, which is detrimental to the health of local communities and drives up prices in the local housing market.
There is no single, simple solution to these problems.
So far, the Welsh Government has authorised councils to increase council tax on second homes and empty homes, and operators must now make a greater financial contribution to their local communities.
Outside of Wales, Argyll and Bute in Scotland have the highest number of empty homes, with 4,887 empty homes for every 100,000 people.