Property Crisis Lures Global Powerhouses to Australian Rentals.

Blackstone Inc. and Brookfield Corp. are among the global investors investing in the multifamily apartment market in Australia, which is facing a housing crisis with rental vacancies at around 1%. Other players in the sector include Ontario Municipal Employees Retirement System, UBS Asset Management, PGGM, and Greystar Real Estate Partners LLC. Currently, there are over A$14 billion in institutional commitments to Australian projects in the build-to-rent sector. The build-to-rent sector is expected to become the largest property class in terms of construction starts by 2030, with an estimated value of A$10 billion per year. However, challenges such as low returns, high land prices, construction costs, and compliance issues need to be addressed. [Extracted from the article]