Build to rent is a term for purpose built, institutionally owned and professionally managed residential property that is let on the open market rather than sold.

Growth in the UK market

In October 2016, it was estimated that only some 8,000 units had been built with a further 15,000 units under construction. To date, the majority of completed projects have come forward in

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

and the major provincial cities such as

Manchester Manchester () is a city and the metropolitan borough of Greater Manchester, England. It had an estimated population of in . Greater Manchester is the third-most populous metropolitan area in the United Kingdom, with a population of 2.92&nbs ...

Liverpool Liverpool is a port City status in the United Kingdom, city and metropolitan borough in Merseyside, England. It is situated on the eastern side of the River Mersey, Mersey Estuary, near the Irish Sea, north-west of London. With a population ...

and

Sheffield Sheffield is a city in South Yorkshire, England, situated south of Leeds and east of Manchester. The city is the administrative centre of the City of Sheffield. It is historically part of the West Riding of Yorkshire and some of its so ...

. Construction is now underway in

Birmingham Birmingham ( ) is a City status in the United Kingdom, city and metropolitan borough in the metropolitan county of West Midlands (county), West Midlands, within the wider West Midlands (region), West Midlands region, in England. It is the Lis ...

and

Leeds Leeds is a city in West Yorkshire, England. It is the largest settlement in Yorkshire and the administrative centre of the City of Leeds Metropolitan Borough, which is the second most populous district in the United Kingdom. It is built aro ...

. The UK Government is reportedly encouraging the sector's growth. By September 2019 the number of units either built or in construction was reported to have increased to 35,000 following large developments by a number of firms report in the media. Build-to-rent is the most contemporary development in the

private rented sector The private rented sector (PRS) is a classification of United Kingdom housing tenure as described by the Ministry of Housing, Communities and Local Government, a UK government department that monitors the national housing supply. Other classifica ...

(PRS) and offers housing across the full spectrum of privately rented accommodation in terms of scale and service offering, often with

affordable housing Affordable housing is housing which is deemed affordable to those with a household income at or below the median, as rated by the national government or a local government by a recognized housing affordability index. Most of the literature on ...

being integrated through discounted market rental homes.

Criticism

Tenants in BTR properties typically pay an 11%

premium Premium may refer to: Marketing * Premium (marketing), a promotional item that can be received for a small fee when redeeming proofs of purchase that come with or on retail products * Premium segment, high-price brands or services in marketing ...

over other properties in similar locations, according to one study.

Innovation

Build-to-rent developments are incorporating modern technologies and sustainable practices, such as energy-efficient systems and water conservation. One such example includes the integration of Tesla electric vehicles in some projects, like those by PropiCloud, which represent an innovative approach to enhancing urban living sustainably.

References

{{reflist Housing

Growth in the UK market

Criticism

Innovation

See also

References