The UK government stimulates the market rent

Minister of construction of the UK mark Prisk has announced that it is accepting applications for the investment of £400 million for the construction of new residential buildings in England specifically designed for the rental.

This initiative is part of the program, which in total will be allocated £1 billion to support construction and investors willing to invest in the private rental market.

As expected, the UK government, a new program providing state guarantees for £10 billion, it will stimulate people to invest in untapped residential properties in the rental market and also provide potential tenants in residential apartments and homes in the UK great selection of new apartments and houses.

The program is already launched in Southampton, which is currently already being built hundreds of new homes specifically for rent.

According to preliminary estimates, the programme in the UK will be commissioned 334000 units of new housing over the next three years that will provide the highest supply of new homes since 2008.

In addition, about 150,000 new units of affordable housing to be built under the program “affordable housing”. Thus, the pace of construction of residential apartments and homes in the UK now the highest in the last two decades.

London mayor Boris Johnson has mentioned many times that London is desperately short of housing. The city needs tens of thousands of new homes. Approximately a quarter of Londoners live in rented apartments and houses.

Therefore, the mayor aims to welcome the programme for the construction sector of the lease. Moreover, the program will not only help with the housing shortage in London, but will also create new jobs, which will create economic growth.

The decision to attract private investment, according to government estimates, will further encourage private sector residential rental UK. Therefore, the project created a task force that will help to unite the partners in the funding process.

® Helen Antre. 16.09.2013