With rising home prices and persistently high interest rates, it makes sense that people are thinking hard about whether purchasing real estate is for them.
People also wonder whether traditional renting is the solution, or whether they should start thinking more out of the box.
In traditional rental scenarios, tenants may be forced to leave when the owner decides they want to move in, renovate or sell, creating uncertainty.
Rents also rise regularly. Data from realestate.com.au shows that the average rental price in Greater Melbourne increased by 46% in the five years to November 2025.
For Melbournians who want the security 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 that are owned and managed by a single company, rather than individual landlords. These communities are specially designed for renters.
It’s a rental property model already common in the US, Canada and across Europe, and now growing in Australia through expert providers like Greystar.
Jade MacAuslan, Marketing Director at Greystar Australia, says these communities provide security of tenure, lifestyle and location and define what it means to rent.
“The younger generation in particular is asking: Why would I save for ten years to buy something, only to get there and the goal post has moved?” says Ms. MacAuslan.
“Many of our residents have crunched the numbers and concluded that owning their own home no longer makes sense for them at this point,” she adds.
“They want stability and security, but they are unwilling to give up the lifestyle and locations they love. They are reconsidering their life goals and realizing they don’t have to buy to get ahead. For them, renting is a conscious choice that they are proud of.”
![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 800 450"%3E%3C/svg%3E)
Meet Haiku South Yarra
Haiku South Yarra offers renters the opportunity to live in a build-to-rent community in one of Melbourne’s hotspots.
Haiku has two adjacent buildings – Haiku Claremont and Haiku Yarra – and 617 apartments.
“These were built exclusively for tenants, and it is the only community of its kind in South Yarra,” Ms MacAuslan said.
“We are not selling any of our apartments and you will not be asked to move due to the change in our circumstances,” she adds.
“We can offer you rental options ranging from six months to three years. Residents can have both flexibility and security. It’s ideal for people who don’t want the hassle of moving things from one place to another, for professionals on fixed-term contracts or for students who need flexibility in terms of study timelines.”
A heated saltwater spa with city views, an experience more commonly associated with hotels or luxury properties than renting.
Lifestyle and location first
As people take renting more seriously as a long-term choice, they are increasingly focusing on the lifestyle it can deliver.
According to data from realestate.com.au, searches for rental properties with a pool increased by 14%, and searches for rental properties with a gym increased by 7% in the year to November 2025.
Renters are also looking for convenience factors: searches for rental properties with a dishwasher increased by 13% in the same period and searches for fully furnished rental properties increased by 8%.
Haiku South Yarra targets lifestyle-oriented tenants with amenities including 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 designed a space where you can start the day with Pilates, work upstairs and receive friends for dinner with a view of the city.”
And unlike buying a home, which often requires compromises when it comes to location, build-to-rent options like Haiku are in desirable locations.
“South Yarra is close to the city, to the Tan, to shops, cafes and public transport. It’s a neighborhood and community where people really want to live,” she says.
A dedicated podcast studio reflects a shift towards rental properties that support creative work, side projects and flexible careers.
Renting as a service, no compromise
Build-to-rent doesn’t have to be one-size-fits-all and Haiku South Yarra’s two buildings offer rental options in what their homes and leases include.
At Haiku Claremont, rentals include designer furniture, white goods, utilities and high-speed Wi-Fi, with studios from around $665 per week, one-bedrooms from around $965, and two-bedrooms from around $1,340.
At Haiku Yarra, people can instead bring their own furniture and choose their own amenities. Studios there start at about $570 per week, one-bedroom at about $880, and two-bedroom at about $945.
In addition to the amenities and community it offers, the high-touch service is a major selling point.
“Residents are supported by our dedicated on-site team who look after daily needs, maintenance and organize a range of community experiences,” Ms MacAuslan added.
“This is more than you can expect in a regular rental and apartment building.”
In an unpredictable housing market, rental properties like Haiku offer people more than just a place to stay. They provide a home where you can feel safe and secure and the freedom to focus on what matters most, whether it’s your career, your health or your hobbies.
“Renting doesn’t have to mean settling for less,” says Ms MacAuslan.
#Melbourne #renters #lifestyle #upgrade