{"id":123738,"date":"2021-12-10T02:03:29","date_gmt":"2021-12-09T19:03:29","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/build-to-rent-model-an-alternative-housing-option\/"},"modified":"2021-12-10T11:12:48","modified_gmt":"2021-12-10T04:12:48","slug":"build-to-rent-model-an-alternative-housing-option","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/build-to-rent-model-an-alternative-housing-option\/","title":{"rendered":"Build-To-Rent model \u2013 an alternative housing option?"},"content":{"rendered":"


\nBuild-To-Rent model \u2013 an alternative housing option?Should\u00a0the Build-To-Rent (BTR) model be implemented, it could benefit diverse groups such as the elderly who are empty-nesters\u00a0and younger Singaporeans who crave their own space\u00a0or have foreign partners.
\nWith the homeownership rate in Singapore sitting at around 90%, analysts believe\u00a0that providing\u00a0an alternative housing option in the form of a build-to-rent (BTR) model may work\u2013 not just for the younger generations, but for different age profiles.
\nUnder the BTR model, which has gained popularity overseas, a single, institutional landlord manages all units, reported Channel News Asia (CNA).
\nThis is in contrast to the usual build-to-sell (BTS) model, in which units are sold to individual buyers.
\nNominated MP Cheng Hsing Yao raised the prospect of a BTR model in March this year. It was raised again by MP Louis Chua (WP-Sengkang) in November while urging authorities to raise the stock of public rental housing across all flat sizes.
\nCNA noted that BTR projects differ from co-living apartments or service apartments since they are intended for longer-term stays.
\nIn March, Cheng pointed that they are also professionally managed and often come with housekeeping, handymen service or community engagement programmes.
\nAnalysts underscored that rental units would prove useful even in a nation with significantly high homeownership rates to cater to changing needs and aspirations.
\n\u201cA lot of things have transformed and evolved over COVID, so much so that one keyword that has come up very often is flexibility. Rent offers a lot more flexibility versus purchase,\u201d said Colliers Singapore Managing Director Tang Wei Leng as quoted by CNA.
\nSuch units would also cater to the increasing desire of individuals for mobility, she said. Those looking to work overseas, for instance, may not want to buy a home, preferring instead to rent.
\nAlan Cheong, Executive Director of Research and Consultancy at Savills Singapore, said the need for a BTR concept has been \u201cmagnified, accentuated and accelerated\u201d by the pandemic.
\nThe work-from-home phenomenon has seen a spike in demand for rental units, driven by younger workers craving for more space of their own, said Cheong.
\nRelated article: Single Millennial\u2019s Guide to Renting in Singapore on A 2.5K Salary
\nHe noted that lifestyles have also been changing, with more people preferring to remain single or postponing marriage. The rising number of those who have married foreigners, on the other hand, may want to acquire a home in their spouse\u2019s country and rent one within the city-state.
\nRenting would also support an ageing population as empty nesters and seniors downsize their properties, said Tang.
\n\u201cIf you don\u2019t like it, there\u2019s (Sellers\u2019 Stamp Duty) to consider and you got to suck it up and live in it for the next few years before you can move. However, if you rent, you can experiment. You can consider: Does it suit you?\u201d
\nThe prospect of having a single landlord also provides more security and comfort for older folks, she said.
\nKnight Frank Singapore Head of Consultancy Alice Tan said the BTR model could also \u201cpromote a spirit of entrepreneurship\u201d among those wanting to invest in business instead of real estate.
\nShe added that diverse accommodation choices would make living and doing business in the city-state more attractive.
\nIn view of the current demand within the market, Tang believes the BTR model is \u201ca very scalable proposition\u201d.
\n\u201cIt offers different business possibilities, and it offers developers the potential of stable long-term income, asset management opportunities which could eventually be spun into a real estate investment trust (REIT),\u201d she said.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Build-To-Rent model \u2013 an alternative housing option?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Build-To-Rent model \u2013 an alternative housing option?Should\u00a0the Build-To-Rent (BTR) model be implemented, it could benefit...<\/p>\n","protected":false},"author":1,"featured_media":123739,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-123738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/HDB-flats-at-Night.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-wbM","jetpack-related-posts":[{"id":122982,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mainstreaming-hdb-rental-may-reshape-social-norms-weaken-communities\/","url_meta":{"origin":123738,"position":0},"title":"Mainstreaming HDB rental may reshape social norms, weaken communities","date":"November 3, 2021","format":false,"excerpt":"\r Current policies are geared towards enabling home ownership;\u00a0Senior Minister of State for National Development Sim Ann said extending\u00a0public housing rentals to the\u00a0wider populace\u00a0will not be embarked on \u201cwithout deep consideration\u201d. Expanding public housing rentals to the mainstream may alter social norms and weaken communities, reported Channel News Asia (CNA),\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/HDB-flats-in-Ghim-Moh.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":84990,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/build-to-rent-how-developers-are-profiting-from-generation-rent-tim-white\/","url_meta":{"origin":123738,"position":1},"title":"Build-to-rent: how developers are profiting from Generation Rent | Tim White","date":"April 11, 2018","format":false,"excerpt":"\r More than \u00a32bn was invested in purpose-built rental flats last year \u2013 but this is no way to solve the UK housing crisis The number of UK residents renting privately has doubled over the past decade, with some 20% of households (30% in London) now in private rented accommodation.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122853,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-bto-project-under-new-prime-housing-model-to-be-built-in-rochor\/","url_meta":{"origin":123738,"position":2},"title":"First BTO project under new prime housing model to be built in Rochor","date":"October 27, 2021","format":false,"excerpt":"\r The Rochor BTO project will have 960 units of\u00a0three-room and four-room flats, and 40 units of two-room rental flats. Source: HDB The first project under the new prime location public housing (PLH) model will be built at Rochor and launched at next month\u2019s Build-to-Order (BTO) exercise. Situated along Weld\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/rochor-bto-plh.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":100560,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/grosvenors-1bn-build-to-rent-plan-could-fail-affordable-housing-test\/","url_meta":{"origin":123738,"position":3},"title":"Grosvenor's \u00a31bn build-to-rent plan could fail affordable housing test","date":"October 26, 2018","format":false,"excerpt":"\r Plan for London flats by Duke of Westminster\u2019s group do not comply with Southwark policyA \u00a31bn build-to-rent project of four- to 28-storey apartment blocks in south London is in deadlock as the local council battles the developer to ensure more affordable flats are made available.Like developments built for sale,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66380,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/build-to-rent-the-solution-to-britains-housing-crisis\/","url_meta":{"origin":123738,"position":4},"title":"Build-to-rent \u2013 the solution to Britain's housing crisis?","date":"September 14, 2017","format":false,"excerpt":"\r Purpose-built block of rental homes, including affordable units and extensive facilities, are fast becoming a hot investmentAygul Zagidullina is not mad about football, but when she received a newsletter through the door about new rental homes opening next to Wembley Stadium in north London, she and her husband did\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91902,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/this-upscale-elderly-housing-project-in-north-point-could-be-a-model-for-housing-the-citys-ageing-population\/","url_meta":{"origin":123738,"position":5},"title":"This upscale elderly housing project in North Point could be a model for housing the city\u2019s ageing population","date":"June 20, 2018","format":false,"excerpt":"\r Wilson Yue Hui-kwong, 79, sold a 391-square-foot flat with two bedrooms in a building in Causeway Bay last year for HK$7.4 million (US$942,794). The flat owned by Yue and his wife had been the family home for a decade, however as they wanted a quieter and larger living space,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/123738"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=123738"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/123738\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/123739"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=123738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=123738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=123738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}