Build-to-rent has come to Canberra

Canberra’s urban landscape is undergoing a change, marked by innovative builds that offer unique rental opportunities.

The build-to-rent model has already taken off in Melbourne and Sydney, and Canberra is now following suit with a wave of new projects that provide affordable housing options.

Popular overseas, build-to-rent refers to large-scale residential developments that are owned and managed by a single entity. These developments usually have units rented out long-term rather than sold to buyers.

Local real estate agency The Property Collective is positioning itself as a leader in this space, leasing novel concepts such as the Urbana studio apartments at 30 Wakefield Avenue, Braddon, and the new build-to-rent Emporium complex in Greenway.

The Property Collective’s Hannah Gill says the Braddon complex’s boarding house-inspired design is striking a chord with tenants and proving to be immensely popular.

“The community-focused apartments offer an affordable alternative, and are fully furnished and inclusive of utilities,” she says.

Urbana represents a departure from conventional housing models. It offers studio apartments with individual bathrooms and self-contained kitchens, as well as shared kitchen-dining-living and outdoor spaces, to foster a sense of community among residents.

With high-quality fixtures and ample storage, residents can enjoy a vibrant urban living experience with city conveniences on their doorstep.

Rent for a studio starts at $460 per week, which includes utilities and internet. Additional car spaces are available for $30 per week.

The build-to-rent Emporium development in Greenway offers a range of one-bedroom, one-plus-study or two-bedroom apartments with two-year lease terms and a potential rent reimbursement of up to eight weeks.

Gill says this is a great incentive to help tenants with rising cost of living expenses.

“Such incentives are rare in the market, with these affordable apartments proving to be highly sought-after,” she says.

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