A number of factors distinguish build-to-rent properties from more common buy-to-let properties. Most of the apartments are considerably more modern, designed for communal living and operated by corporate landlords. In order to fill the rental market gap, it is predicted that build-to-rent properties will dominate the property market going forward. UK property markets are seeing an increase in multi-occupational buildings. As a result of the development of the build-to-rent scheme, the rental sector has grown rapidly, and this model of living has become one of the fastest growing sectors. There was an increase of 40% in the number of build-to-rent (BTR) properties being constructed in 2019 alone, highlighting the performance of this asset class and the strong demand for this style of housing.
Projections suggest that the private rental market will grow by 22% by 2023. With a build-to-rent apartment, residents enjoy the security of long-term tenancies, no upfront fees, and the efficiency of professional management services. As a growing number of people opt to rent rather than buy due to high purchase costs, tenants are in constant need of an effective solution.
Recent years have seen build-to-rent housing gain significant traction, and experts predict even greater demand for this type of housing in the near future. People of all ages are attracted to BTR housing because of its distinct approach to community living. As well as providing outstanding facilities and high-quality amenities, tenants are also attracted by the concept of living with others.
Residents of many BTR developments can enjoy a vast array of amenities including gyms, cinemas, games rooms, saunas and much more.