With surging house prices and sustained high interest rates, it makes sense that people are thinking deeply about whether buying property is right for them.
People are also questioning whether traditional renting is the answer, or whether they need to start thinking more out of the box.
In traditional renting scenarios, renters can be forced to leave when the owner decides they want to move in, renovate, or sell, creating uncertainty.
Rents also rise regularly. In fact, realestate.com.au data shows the median rent in Greater Melbourne increased by 46% in the five years to November 2025.
For Melbournians who want the certainty and flexibility of a modern home without the financial commitment of a 30-year mortgage, ‘build-to-rent’ is becoming a popular alternative.
Build-to-rent refers to apartment buildings owned and managed by a single company, rather than individual landlords. These communities are designed specifically for renters.
Purpose-built wellness spaces are increasingly shaping how renters choose where (and how) they live long term.
It is a rental housing model already common in the US, Canada, and across Europe, and is now growing in Australia through expert providers like Greystar.
Jade MacAuslan, Marketing Director at Greystar Australia, says these communities deliver on rental security, lifestyle, and location and are defining what it means to rent.
“The younger generation in particular are asking, why would I save for 10 years to buy, only to get there and the goal post has moved?” says Ms MacAuslan.
"Many of our residents have run the numbers and decided that home ownership just doesn’t make sense for them right now,’ she adds.
"They want stability and security, but they aren’t willing to give up on the lifestyle and locations they love. They are rethinking their life goals and realising they don’t have to buy to get ahead. For them, renting is a deliberate choice, and one they feel proud of."
Private dining spaces with some of the best views in South Yarra, available for residents to book and host friends.
Introducing Haiku South Yarra
Haiku South Yarra offers renters the chance to live in a build-to-rent community in one of Melbourne’s hotspots.
Haiku features two design-led and adjacent buildings – Haiku Claremont and Haiku Yarra – and 617 apartments.
“These are built exclusively for renters, and it’s the only community of its kind in South Yarra,” says Ms MacAuslan.
“We're not selling off any of our apartments and you won't be asked to move out because of the change in our circumstances,” she adds.
“We can give you lease options ranging from six months to three-years. Residents can have both flexibility and security. It’s ideal for those who don’t want the hassle of moving things from place to place, professionals on fixed-term contracts or students needing flexibility around study timelines."
A heated saltwater spa with city views, an experience more often associated with hotels or high-end ownership than renting.
Lifestyle and location first
As people consider renting more seriously as a long-term choice, they are increasingly focused on the lifestyle it can deliver.
According to realestate.com.au data, searches for rentals with a swimming pool increased by 14%, and searches for rentals with a gym increased by 7% in the year to November 2025.
Renters are also hunting for convenience factors, with searches for rentals with a dishwasher up by 13%, and searches for fully furnished rentals up by 8% in the same period.
Haiku South Yarra caters to lifestyle-focused renters with amenities such as a rooftop saltwater spa, rooftop lounge and bars, co-working spaces, a podcast studio, private dining areas, a fully equipped techno gym, Pilates studio, sauna, cinema, and more.
“People no longer want homes that just look good; they want places that actively support how they live, work and connect," says Ms MacAuslan.
"That’s why we’ve designed a space where you can start the day with Pilates, work upstairs, and host friends for dinner overlooking the city."
And unlike buying a home that often requires compromises when it comes to location, build-to-rent opportunities such as Haiku are in desirable locations.
“South Yarra is close to the city, to the Tan, to retail, cafes, and transport. It’s a neighbourhood and community that people actually want to live in,” she says.
A dedicated podcast studio reflects a shift toward rental homes that support creative work, side projects and flexible careers.
Renting as a service, not a compromise
Build-to-rent doesn’t have to be one-size-fits-all and Haiku South Yarra’s two buildings give rents options in what their homes and leases include.
At Haiku Claremont, rent covers designer furniture, whitegoods, utilities, and high-speed Wi-Fi with studios starting from around $665 per week, one bedroom from around $965, and two bedrooms from around $1,340.
At Haiku Yarra, people can instead bring their own furniture and choose their own utilities. Studios there start at around $570 per week, one bedroom at around $880, and two bedrooms at around $945.
Beyond the amenities and community it offers, the high-touch service is a major selling point.
“Residents are supported by our dedicated onsite team who look after everyday needs, maintenance and host an array of community experiences,” Ms MacAuslan adds.
“This is more than you can expect in a regular rental and apartment building.”
In an unpredictable housing market, build-to-rent communities like Haiku offer people more than just a place to stay. They provide a home where you can feel secure and the freedom to focus on what matters most, be it your career, your health or your hobbies.
“Renting doesn't have to mean settling for less,” Ms MacAuslan says.
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