If you spend any time with developers, investors or policymakers involved in the property industry, chances are they will mention "build-to-rent" .
Most projects target the middle-to-upper end of the market, with a range of amenities, such as gyms, co-working spaces and dining rooms, and a community living aspect to entice tenants.Developers say BTR provides a more "professional" renting experience, with whole buildings managed by companies with the relevant experience, rather than hundreds of amateur landlords.
"It gives you consistency to plan ahead while staying in that product and with amenities and other benefits rolled in," he said. Richard Valentine-Selsey, head of European living research at Savills, says build-to-rent projects are being delivered faster and providing more long-term leases.But BTR remains a tiny fraction of the UK market and it, nor any other intervention in the housing market, has failed to stop rising rents.
"You could maybe point to some studies in certain areas where a specific development has had a positive impact on prices," he said. Renting may also be much cheaper, given the tendency of US banks to offer home loans with fixed interest rates, meaning homebuyers could be stuck with a 7 per cent interest rate for the next 30 years if they bought now.
Kelvin Wong, a real estate professor at the University of Hong Kong, said complexes were "more like hotels or service apartments".
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