'It's about convenience and being able to move straight in.” 9News
called build to rent involves large scale, single ownership and professionally managed properties being constructed specifically for medium to long-term renters instead of buyers.
There are about 19 projects in development across the city including seven in Parramatta, five in Ryde and two in Canterbury-Bankstown.Investor Coronation is building an 880-apartment block in Merrylands, with some to be sold but 450 will be rented out by the developer, making it the biggest build to rent apartment block in Sydney.Planning Minister Paul Scully said getting more supply into the market would put downward pressure on prices.
To be eligible for tax concessions in NSW, a development must have at least 50 dwellings dedicated to built to rent.Continue reading
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