Australian Broker –
The New South Wales government has introduced new legislation into Parliament which, if passed, would stimulate increased investment in purpose-built rental housing and help address affordability concerns by driving prices down through providing a 50% discount on land tax to developers who invest in built-to-rent schemes.
According to Urban Taskforce CEO Tom Forrest, build-to-rent means an entire building is designed to be rental accommodation and owned by one entity rather than split into individual units and sold to buyers through a strata plan. He explained this proves an attractive option for institutional investors and is popular throughout England and North America.
