Build-to-rent reaches scale in Melbourne
Just under 9,000 operating build-to-rent apartments now sit within 6 kilometres of the Melbourne CBD.
Melbourne now has 8,940 operating build-to-rent apartments within six kilometres of the CBD, more than any other Australian city and roughly 38 per cent of the national operating stock.
Occupancy across the sector is above 96 per cent, and advertised rents in the segment have risen 3.1 per cent over the year, below the 4.8 per cent recorded across the broader inner Melbourne rental market.
Institutional investors continue to cite construction cost and land tax treatment as the two constraints on further deployment.
Sources
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