Govt prepares 'Plan B' for rental sector
Despite assurances that the buy-to-let market remains strong, the government is reportedly considering new measures to ensure private money continues to flow into the rental sector.
HomeMove.co.uk reports that one solution being explored by Whitehall is expanding build-to-let schemes, which make it easier for investors to tie up their money in professionally-run rental accommodation without the hassle of becoming an independent landlord.
Real Estate Agent Savills recently asked the government to consider rolling out a US-style private rental sector modelled on build-to-let schemes as a solution to tackling the housing shortage.
Such projects are funded by investors buying shares in property companies or channelling their money into a property fund - and because they are built specifically with letting in mind they tend to be more profitable.
Mark Allen, chief executive of Unite, explained: "If a block is designed to be let, developers can increase the density and make it more attractive to investors. It can be built to deliver a higher yield, more akin to commercial property."
Published 10th March, 2008
© 2008 Estates IT Limited
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Despite assurances that the buy-to-let market remains strong, the government is reportedly considering new measures to ensure private money continues to flow into the rental sector.