The Scottish Government has extended funding to increase the supply of Build-To-Rent (BTR) housing across the country.

The financial boost will support Private Rented Sector (PRS) Champion Gerry More as he drives forward initiatives to rapidly increase the supply of new purpose-built properties.

Mr More will be assisted by a Working Party of experts over the next 12 months to focus on how such schemes could be delivered with the backing of institutional investors.

In addition, the funding will support the launch of a dedicated BTR in Scotland opportunity document in early 2017, outlining the potential benefits on offer to investors, local authorities, developers and other associated organisations.

-- Advertisement --

Housing Minister Kevin Stewart said: "More and more households are calling the PRS sector home and new high-quality, well-managed housing built for private rent is an important element of our housing mix.

"We have been working closely with industry to help this emerging sector to thrive and as part of this we have previously funded a Build-to-Rent PRS Champion tasked with driving forward actions that will help deliver thousands of new PRS homes. I am delighted that, at the industry's request, the Scottish Government is enabling this appointment to be extended by a further year."

Mr More added: "With an increasing population, and the number of households forecast to continue rising, build to rent is a key component of increasing the supply of much needed homes of all tenures.

"The extension of this funding is therefore greatly welcomed in what is a further demonstration of backing from the Scottish Government, as previously reflected in its support of the extensive market engagement undertaken on a proposed Rental Income Guarantee scheme and improving the wider policy framework."

(LM/JP)