build-to-rent complex

PHOTO: Auckland Council

The Build-to-Rent (BTR) model is being hailed as a solution for New Zealand’s housing crisis, particularly resonating with the younger generation, often referred to as ‘Gen Z’. This approach, already popular internationally, focuses on offering long-term housing security for renters, bringing positive developments for New Zealanders, with the country’s largest BTR project nearing completion near Auckland’s Sylvia Park.

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Situated adjacent to Auckland‘s Sylvia Park, this newly constructed complex promises tenants the advantages of renting coupled with the stability reminiscent of homeownership. As rental prices surge, there’s a 55 percent increase in demand for apartments and small houses compared to last year, with concerns looming over potential scarcity in rental accommodations as a third of landlords contemplate selling their properties.

While climbing the property ladder has traditionally been a Kiwi aspiration, recent trends show a shift towards the younger generation favoring apartment living, with one in three households now opting to rent. The BTR concept, gaining traction globally, involves investors constructing apartments explicitly for renting, ensuring tenants’ security without the threat of eviction.

New Zealand's biggest build-to-rent complex nears completion in Auckland |  Newshub


Clive Mackenzie, CEO of Kiwi Property, emphasized the significance of providing tenants with a sense of home and security, highlighting the challenges renters face, including a lack of quality properties, uncertain tenancy, and unpredictable rent hikes. Kiwi Property aims to address these concerns by offering long-term stays and facilitating savings for future homebuyers.

Moreover, the perks of BTR living extend beyond stability, with allowances for pets, personalization, and access to amenities such as a gym, concierge services, and BBQ areas. With substantial investments in BTR developments, Kiwi Property plans to introduce similar projects to the market.

Despite homeownership traditionally being seen as the ultimate Kiwi dream, recent surveys suggest a shifting perspective among younger demographics, with many citing the high cost of living and housing prices as major barriers to entry into the property market. For renters like 24-year-old Paddy Gainsford, BTR presents an appealing alternative, offering stability in a competitive rental market where sudden changes can cause significant stress.

By providing a new way of life for renters, BTR proponents aim to alleviate such stressful situations, offering a viable solution amidst New Zealand’s housing challenges.