PHOTO: JOE LLOYD CBRE says build-to-rent developments will help alleviate the shortage of rentals and provide better quality and greater security of tenure for New Zealand renters.
Build-to rent property developments can offer hundreds of thousands of Kiwi renters security of tenure and better places to live, a report by specialist real estate firm CBRE says.
The release of the report Build-To-Rent, Who? What? Where? follows a public statement last week by Housing Minister Phil Twyford that he was seeking advice on encouraging more build-to-rent development, possibly with the use of Crown land.
These developments were multi-unit residential buildings and developments specifically built to provide long-term rentals, rather than be sold individually.
They were often owned and operated by institutions and came in a variety of forms like apartments, units and townhouses. Gyms were common in many overseas build-to-rent developments, the report said.
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