Australia’s real estate landscape is experiencing a profound shift. As the market for traditional office towers evolves, a new exciting wave of investment strategies and opportunities have emerged in sectors that align with modern living, logistics, and long-term asset performance. Savvy investors are now looking beyond central business districts (CBDs) to capitalize on these trends. The focus is no longer on location, but on creating resilient, long-term assets.
This transformation is driven by the rise of the build-to-rent (BTR) sector. This model delivers high-quality, professionally managed rental housing and is supported by a dynamic ecosystem of players, including private financiers, global institutional investors, and government bodies addressing the housing affordability crisis.
Key Players Redefining Real Estate Investment
Australia’s evolving real estate market is shaped by innovative companies redefining investment strategies and addressing critical financing or housing-related needs. These key players are at the forefront of this transformation, driving growth and sustainability in the sector.
1. Royce Stone Capital
Royce Stone Capital is a crucial facilitator of innovative real estate projects as an Australian private credit provider. It is a direct intermediary between developers and wholesale capital sources, including family offices. This direct lending model provides the financial agility necessary for emerging sectors like BTR, bypassing the lengthy processes of traditional banks. The company specializes in bespoke financial instruments, such as first and second mortgages and mezzanine finance. Its rapid settlement capabilities—often within a week—are a significant advantage for developers bringing non-traditional projects to fruition. The company’s role highlights the growing importance of private credit in filling funding gaps left by conventional lenders in Australia’s evolving real estate market.
The company’s lending model connects borrowers with wholesale funds and family offices. Its key services are first and second mortgages, mezzanine finance, and private lending. The company targets property developers, businesses, and high-net-worth individuals. The firm’s unique selling proposition is its rapid settlement process, flexible underwriting, and direct access to capital.
2. Greystar
Greystar’s entry into the Australian market signals the maturation of the BTR asset class. As a global leader in multifamily housing, Greystar brings institutional-grade expertise and a vertically integrated model—from development to operations—to Australia. Its flagship development in Melbourne, which costs approximately $480 million, is planned to feature 700 rental homes with high-amenity features.
The company’s investment platform is backed by institutional investors, attracting significant global capital to the Australian BTR sector. Greystar’s presence validates BTR as a primary institutional asset class, setting a new benchmark for professionally managed, high-quality rental communities.
3. Orens Capital
Orens Capital is a pioneer in the single-family Build-to-Rent (SFBTR) sector, and Australia’s first fund is dedicated to this model. This approach targets a significant gap in the rental market: the need for detached family homes for families and essential workers priced out of homeownership. Over30% of Australian households now rent, and many reside in detached dwellings. Orens Capital’s strategy involves acquiring greenfield land to develop communities of homes specifically for long-term rental, directly addressing the housing affordability crisis by providing stable, high-quality rental options.
4. DWS Group
DWS Group, a global asset manager, provides the research and institutional capital that fuels the BTR sector’s growth. DWS identifies long-term, high-growth trends and directs institutional capital accordingly. The firm has identified Australian BTR as a prime opportunity, noting that strong rental growth pushes prices higher due to persistent housing shortages.
DWS’s data-driven approach ensures capital is allocated to projects with strong fundamentals, such as proximity to transport links and amenities. Thus, investments are de-risked, and the BTR ecosystem is underpinned.
DWS Group is a global real estate asset manager and institutional investor. Its key focus is the data-driven identification of high-growth real estate sectors. The firm’s market insight projects that apartment rents in major Australian cities will see continued growth. Its investment approach is to allocate capital strategically to projects with strong fundamentals.
5. PwC Australia
PwC Australia is critical in structuring BTR investments to be financially viable and compliant for domestic and foreign investors. The firm provides essential tax and structuring advice, helping developers and investors handle the complexities of this new asset class. The financial architecture of BTR differs from the traditional build-to-sell model, and PwC assists clients in optimizing outcomes related to land tax, GST, and the complex Managed Investment Trust (MIT) rules for foreign capital. This advisory function is indispensable for attracting the large-scale international investment required to expand Australia’s BTR supply.
PwC Australia provides professional advisory and tax services, with a core expertise in structuring complex real estate transactions. Its value proposition is maximizing the financial viability and compliance of large-scale property investments. Key advisory areas include land tax, GST, Managed Investment Trust (MIT) rules, and Foreign Investment Review Board (FIRB) requirements.
6. Landcom NSW
Landcom, the New South Wales Government’s land and property development organization, is pioneering a BTR program for essential workers. This model leverages surplus government-owned land to deliver high-quality, affordable rental housing in high-demand areas. A landmark initiative is a program funded by the NSW Government’s $450 million investment to provide more than 400 BTR homes for essential workers. This public-sector leadership helps de-risk projects for private partners and ensures the benefits of the BTR boom are shared, providing stable housing for nurses, teachers, and first responders.
Landcom’s model is government-led development and public-private partnership. Its primary goal is to deliver affordable housing for essential workers. The target tenants are critical community members, including nurses and teachers. The key innovation is using government-owned land to create financially viable rental housing at below-market rates.
A New Era for Real Estate Investment
The real estate investment landscape in Australia is moving beyond the CBD. The rise of the BTR sector marks a fundamental change in how the nation addresses its housing needs. These six companies represent different facets of this dynamic ecosystem, each playing a vital role in building more resilient and accessible property markets.
The Australian BTR pipeline is a testament to this growth. With a national pipeline of over $30 billion across 113 projects and nearly 40,000 apartments, the sector’s value has grown 41% year over year.
As investor interest in alternative assets grows, sectors like BTR offer a compelling combination of stable, long-term returns and a solution to pressing social needs. The shift from traditional commercial assets to residential and alternative assets is a defining trend of this era, driven by changing demographics and a persistent housing supply shortage.
The growth of BTR, particularly in major cities, is transforming the apartment development landscape. In recent years, build-to-sell supply has significantly declined. Australia is witnessing a new chapter in its real estate history, defined not by traditional commercial assets but by thriving, sustainable, and professionally managed communities.
Also Read: Why Real Estate Needs To Be a Major Part Of Your Financial Portfolio In 2025.
