THE COMING AUSTRALIAN PHENOMENON: "BUILD TO RENT"
Build to rent (BTR) has been a hot topic in real estate circles for the last few years.
With an increasing number of projects coming to market in recent years in the UK Build to Rent is no longer restricted to industry insiders.
Many tenants are now living in these buildings, and the entire asset class is starting to become the focus of the real estate industry.
Build to Rent tenants appear to come in a variety of demographics. According to The Times, university leavers and young professionals are being joined by older “tactical renters” who choose to rent for a variety of reasons.
Build to rent may be a growing global phenomenon but it’s still very new in Australia.
The concept was thrust into the spotlight in 2019 as a part of the 2019 federal election campaign Labor proposed taxation reforms for build to rent in Australia.
Since then, the term has started to become more reported in mainstream media in Australia, with private real estate funds, developers, industry superannuation funds, global Sovereign Funds and Sovereign Pension Funds all declaring their interest in the new housing asset class.
St Regis Hotel Shelved as Mirvac Grows Build-to-Rent Portfolio
As Australia looks to construction to help rebuild the economy post-Covid-19, developer Mirvac continues to grow its Melbourne office and build-to-rent pipeline, revising plans for a $1 billion complex on the site of the former Melbourne Convention Centre.
Oxford Lodges Build-to-Rent Plans for Pitt Street Skyscraper
Oxford Properties has lodged a development application for a 39-storey, build-to-rent residential tower, the first of two towers for the Sydney Metro Pitt Street over-station development.
The project marks the first large scale build-to-rent residential tower for Sydney CBD, and will comprise 234 apartments.
Oxford Properties' Alec Harper says Australia’s evolving residential market, in response to housing affordability, population growth and changing sentiment to homeownership is driving demand for the emerging asset class in urban centres.
Fri 06 Jul 2020- New South Wales will be the first state to fund a dedicated build-to-rent model, Minister for Social Housing Pru Goward revealed on Friday. The minister revealed that a Communities Plus housing site in Redfern would be home to the nation’s first ever build-to-rent housing model...
June 2020- More than two years in the making, the deal is a show of institutional confidence in the viability of the local build-to-rent sector-previously overlooked for the higher yields of commercial office or traditional build-to-sell markets.
If these challenges are addressed, build-to-rent assets can provide steady income for investors, improve housing affordability in Australia, and give tenants ...
Dec 16, 2019 - Build-to-rent (BTR) is an innovative and exciting opportunity for the Australian property sector. It is no secret that the country's rental market demand is ..
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