Build-to-Rent in the Private Rented Sector in Scotland
Requiring 465,000 new homes by 2035, Scotland is a country with urgent yet diverse housing needs. Major demographic shifts over the last decade have highlighted a changing housing landscape and the need to consider alternative models of funding and development. Increasing the capacity of Scotland's growing rented sector has a major role to play in achieving a balanced and sustainable tenure mix. It also offers new and significant opportunities to attract investment and development.
The “Building the Private Rented Sector” project was therefore initiated by Homes for Scotland in order to help determine how new sources of funding can be attracted to help expand the Scottish rental market. With support from Homes for Scotland, the Scottish Government and a Working Party of experts from industry, trade associations, managing agents, financiers and local authorities; Gerry More (PRS Champion) has worked collaboratively to take forward the recommendations of the 2013 BRS Report and identify a cohesive set of positive interventions to facilitate the Build to Rent sector’s growth in Scotland.
The emergence of a new, professionally managed, institutionally invested, purpose built private rented sector will result in the rapid and volume delivery of high quality new housing; boosting flexibility, choice and affordability in doing so. With innovative design and modern construction techniques, supplemented by new standards of professional management and service delivery it also represents an opportunity to transform the customer experience of the private rented sector in Scotland.
There is clear evidence of strong and continuing demand for renting, with PRS quickly becoming the second tenure of choice in many of Scotland’s cities. As developments start to emerge it is clear that there is a great deal of potential for investors in the Scottish market.
Follow the links below to learn more about the build to rent opportunity in Scotland.