There are about 19 projects in development across the city including seven in Parramatta, five in Ryde and two in Canterbury-Bankstown.
A build to rent model could make housing more affordable in Sydney. (Nine)Investor Coronation is building an 880-apartment block in Merrylands, with some to be sold but 450 will be rented out by the developer, making it the biggest build to rent apartment block in Sydney.
"It's about convenience and being able to move straight in," Aras Labutis said.
Planning Minister Paul Scully said getting more supply into the market would put downward pressure on prices.
The scheme will be typically for high rise buildings. (Nine)"The stability comes out of the one ownership model, you've got one owner of the building who's actively managing the property," Scully said.
"Is it the whole solution? No. Is it part of the solution? Absolutely."
The model accounts for 12 per cent of housing in the United States and is proving to be successful in the United Kingdom.
To be eligible for tax concessions in NSW, a development must have at least 50 dwellings dedicated to built to rent.
