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AUSTRALIAN PROPERTY INSTITUTE RESIDENTIAL PROPERTY VIDEO

The $65bn build to rent question for Australia

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A TAKE-UP of just 1% in Australia’s fledgling build-to-rent sector presents a $65 billion opportunity to the country’s market, according Chris Key, Greystar AsiaPac chief executive officer.

Speaking at the Australian Property Institute’s National Property Conference on the Gold Coast, Key said two critical factors haven’t helped institutional investors in the journey to pioneer the sector in Australia.

“The market up until the last six or 12 months has been very hot. Competing in a hot market against the traditional developer is challenging for the product that we offer. We tend to do better in terms of volume of delivery in down cycles.

“The other factor that’s at play here is the tax landscape and the government regulation. We’ve had a barrier put up in terms of offshore investment into this asset class, which is really constraining the appetite of offshore investors who invest in this product all around the world, and invest with us in many corners of the world today.” Key concluded.

Australian Property Journal