LREF 2017: The rise in the number of residential tower developments in the capital is something that no Londoner can have failed to notice, but a look at the history of that growth is no less remarkable.
Last year a total of 48 towers started, from a base of practically zero in 2005 or – put another way – one tower coming out of the ground almost every single week.
Coupled with this dramatic rise in the number of towers is, EG predicts, a change in predominant tenure of the towers themselves away from private sale to private rent– specifically the institutional private rented sector or iPRS.
The early stages of this shift has already started. In 2016 a total of 25% of all towers consented were for build to rent, when only a few years previously there were none.
