Is build-to-rent the solution to Britain’s housing crisis?
Whilst purpose-built blocks of rental homes are common in other countries such as US, Germany and France, they are a relatively new phenomenon in Britain. Property developers however are now eager to tap into the rising trend for long-term renting and the build-to-rent sector is expanding across England.
The attraction for developers is the provision of a reliable long-term income stream, in contrast to the ups and downs of the traditional housebuilding cycle.
The first big UK build-to-rent scheme to get off the ground was East Village in Stratford, the former Olympic athletes’ quarters which were turned into 3,000 homes by Delancey and Qatari Diar, the property arm of Qatar’s ruling family.
The largest build-to-rent project in the UK is also in the capital, with 5,000 of the 7,600 homes under construction in the Wembley Park development being purpose-built rental homes.
Full story available from The Guardian: https://www.theguardian.com/business/2017/sep/14/build-to-rent-the-solution-to-britains-housing-crisis