On 27 March 2018, JLL’s Regional Director, Research Strategy – Asia Pacific, Dr David Rees, kicked off our Housing Mix agenda with a fascinating Leading Thinker event on the potential for a Build-to-Rent sector in Australia, co-hosted by our Corporate members Charter Keck Cramer and Cbus Property.
Build-to-Rent properties are retained by institutional investors as rental accommodation, and are common in the Netherlands, Switzerland, US, Japan and Finland.
The model offers on-site services such as bike storage, gyms, and parcel collection that individual landlords would struggle to provide, and greater security for tenants with long-term leases. Dr Rees outlined the changing conditions and attitudes in Australia that suggest that Build-to-Rent could well be a success story here.
The discussion showed there is growing interest in establishing a Build-to-Rent sector in Australia, and many agreed that whoever moves first on this issue will have an enormous advantage. Some challenges do exist, particularly around financing and taxation, but given the right policy environment, this is something that can happen quickly to help ease housing issues.
It is also a forward-thinking approach to housing, and one that responds to the needs of young Australians who have different ideas about home ownership.
Please see JLL’s most recent report below
Built-to-Rent residential: Australia’s missing sector, JLL
L to R: Cbus Property CEO Adrian Pozzo; Charter Keck Cramer Chairman Scott Keck; Committee for Melbourne CEO Martine Letts; JLL Regional Director of Research Strategy David Rees