The Build to Rent Program in the UK has led to many new developments being built and will continue to grow in 2024, as Greycoat real estate agency specialists explain. The Build to Rent Program has increased privately rented apartments by 2% and in London and 4.2% This market share has grown since 2018.
The BTR market has grown each year. In 2020 the number of BTR units found in the private rental market was 58,444 units. In 2023 the number increased in 2023 to over 100,372 units, increasing rental to private tenants by 69%. In London the Build to Rent program has seen the highest completed developments, Greycoat informs.
The program offers renters more amenities and is a good program for investors, builders, and individuals according to Greycoat Real Estate. They build private high rise buildings that offer renters many amenities. These buildings have work from home spaces, laundry, gym, restaurants, a lobby, concierge, and meeting spaces.
They have common spaces where residents can meet cafes, lounges, gardens, and outdoor space, as Grecoat adds. The rise in single family housing has increased the success of this market (Bisnow).
Many of these tall residential towers have many roomy apartments for families. Each Built to Rent building has a unique home design. Greycoat Real Estate can work with investors, landlords, and builders to help them manage, design, and build these properties for rent. With the booming market in 2024 this may be a worthwhile investment to consider.