As one of the country’s largest yet build-to-rent projects rapidly takes shape in Melbourne’s inner south, its developer says more certainty on planning and taxation regimes would speed much-needed foreign investment for the sector.

Greystar’s $500 million project on Gladstone Street in Fishermans Bend “topped out” this week. With 700 apartments – accommodation for as many as 1500 residents – its outer structure is complete, and as fit-outs and amenities are installed it is due to welcome its first residents by September.