The economics of build-to-rent development barely stacks up in Sydney compared to Melbourne, which has 10 times the number of such units under construction.
Sydney remains behind Melbourne and Brisbane in the number of build-to rent projects under construction, although the numbers are starting to rise.
BTR, where a developer builds an apartment block, retains ownership and leases it to tenants, is being touted by the property industry as a key part of the solution to the nation’s housing crisis. She said BTR had the potential to be a “massive disruption to our rental market in a good way”, though it remained less attractive than other assets for foreign investors due to rates of return.
Last year the BTR sector accounted for just 0.2 per cent of Australia’s residential property market, compared to 12 per cent in the US. According to an August 2023 report by Urbis and Allens, more capital has been invested in BTR in Brisbane than Sydney to date. Build-to-rent projects in Sydney that are complete, under construction or are likely to be delivered by 2026.All four projects are opposed by their local councils. Under relatively new rules for large build-to-rent developments, the proposals have been lodged as “state significant developments” and will be assessed by the minister, department or Independent Planning Commission.
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