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The global build-to-rent round up - 13 April 2021

The global buildtorent round up  13 April 2021

A curation of news highlights from around the globe covering build-to-rent and specialised residential assets.


New Zealand & Australia

  • Perth: The Switch is a $500M housing concept to be developed in Perth and is looking to fill a gap in the market for shared accommodation and lifestyle-led living, reported to be a popular trend in the European market and growing in Australia. The Switch will offer 483 beds in private studios to seven-bed shared apartments at an affordable price range. Full article here.
  • Perth: Investment in Perth’s private rental market has experienced long-term decline which has seen little development occur and led to a vacancy rate of less than 1% across the market. The Property Council of Australia is suggesting creating a favourable tax setting for build-to-rent developments, like the incentivising of development seen along the eastern coast. Full article here.

Europe

  • UK: Ascend Properties research has shown that, largely, UK rental properties do not meet the needs of the tenants. 81% of people surveyed said that existing stock was not up to standard, and 83% also said that they would pay more for rental housing that met their needs. Location, size, and outdoor space were key issues for respondents.  Full article here.
  • UK: Ascend Properties have also estimated that the build-to-rent market could easily grow to 20% of the new build market in the UK in the coming years, based on construction rates seen in the USA. Full article here.
  • UK: Greystar has unveiled its 8-hectare Greenford Quay scheme with the first building completed using modular construction in under 19 months. The modular construction method will help deliver 2,118 build-to-rent units with reductions in construction time, traffic, and waste. Full article here.

North America

  • USA: The Collective has submitted plans for a 12-storey co-living building in Miami. Residents of The Collective will have a low barrier to entry and a variety of stay options with all-inclusive billing. The building will have 250 units and 15% of the residential floor area will be dedicated to communal amenity. Full article here.
  • USA: Cordish Cos. Is set to begin construction on two multi-family developments in Kansas City. The project includes a 26-storey luxury building offering 288 units and a converted former office building offering 139 affordable units. The former historic office building has been vacant for 20 years and will have new life as Midland Lofts. Full article here.

Asia

  • Hong Kong: Start-up Dash Living has been helping Hong Kong hotels to adopt monthly leases for their rooms to get more people into their hotels due to a downturn in tourist numbers. Dash Living had no hotel partners prior to the pandemic and now operates 1,300 units including co-living, serviced apartments and hotel rooms in Hong Kong and Singapore. Full article here.

Related Experts

Alan McMahon

National Director | Strategic Advisory

Auckland

Alan has overall responsibility for Strategic Advisory for Colliers International in New Zealand. 

He advises a wide range of public and private sector organizations. Clients include Auckland Council,, Massey University, Kiwi Property, Ngai Tahu Property, Ngati Whatua Orakei, Ngati Whatua o Kaipara, NZ Super, and various departments of the New Zealand government including Police, MBIE, Ministry of Justice, and Kainga Ora.

 

 

 

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