Build-to-rent pipeline hits record high, local investors slow to react
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Interest in the emerging build-to-rent sector surged through the second half of 2020 with a record number of projects now in the pipeline, according to a new report from CBRE.
The strong pick-up in the BTR pipeline follows cuts to land tax applied to such projects announced by NSW and Victoria last year. The NSW government finalised changes to planning and tax policies for the nascent sector on Friday.
Greystar’s BTR project at Gladstone Street in South Melbourne.
NSW Treasurer Dominic Perrottet said “we’ve levelled the playing field” and that BTR developments would have land tax cut by 50 per cent, as well as an exemption from foreign investor surcharges for eligible developments until 2040.