The perfect match: How Golf properties have bucked the trend and proved resilient for investors
Mediterranean countries such as Spain have been at the forefront of developing golf properties catering for a largely northern European market, one that wishes to combine golf with a pleasant and reliable climate. Indeed, for many savvy buyers, purchasing a golf property is usually a decision made more on the quality of life enhancements which add to the location´s value and desirability than about putting balls.
In Spain, while KPMG’s Golf Benchmark Survey reveals that under half (49%) of golf courses in Europe, the Middle East and Africa were profitable in 2010, properties on golf courses have still fared better than other comparable properties on the coast in the face of economic hardship seeing properties without a golf environment decrease 30% – 35% in value in comparison to a 20% maximum decrease in price for a golf property.
But what is it that draws many property hunters to the greens and fairways of a golf course?
Even though three-quarters of British buyers do not play the game, there are still a number that do, with KPMG’s Golf Benchmark study revealing that the number of players in Europe, Middle East and Africa has been growing at around 5% every year for the last two decades, highlighting the popularity of the game.
Meanwhile, in response to huge demand for golfing holidays, Spain has one of the widest selections of golf properties to choose from, many of which have developed into golfing ‘communities’, offering sophisticated outdoor living without the isolation. It is the ideal environment for the young, growing families and even those in retirement, simply because it offers community spirit, wide open spaces, access to a course, club houses, restaurants and other amenities with many communities offering special course membership rates and green fees to the homeowners and impeccable maintenance of the surroundings helping the property keep its value.
From a financial perspective, a property on a golf course can be a very sound investment. Golf is a game that can be played throughout most of the year, giving opportunities to generate a year-round rental income from the masses that demand a golfing holiday including not only the British but local Spaniards, Scandinavians and Germans. In particular in the last two years, people from northern European countries with other currencies stronger than the Euro have started to demand and buy golf properties along the Costa del Sol helping prices remain stable during 2010 and 2011.
Ignacio Osle, Sales and Marketing Director of leading house builder Taylor Wimpey de España, comments,
“Los Arqueros Golf and Country Club, an 18-hole course designed by the Spaniard Severiano Ballesteros who is considered one of the best players in the world, is one example of a quality golf course that has performed remarkably well. We developed and sold during the last 11 years more than 1,200 apartments, villas and detached villas in Los Arqueros Golf Course. This year Los Arqueros celebrates its 20th anniversary and we are very proud to be in the official ranking of the Costa del Sol as the 3rd most popular golf course of 2011.”
So if you’re thinking about buying a golf property in Spain to perfect your swing or fill your pockets from rental opportunities why not take a look at what’s on offer:
Los Altos del Golf is a Taylor Wimpey de España development located in Andratx, Mallorca nestled in the heart of the golf course. It consists of 16 large detached houses split into 2, 3 and 4 bedroom properties. All the properties have generous proportions and offer either spectacular golf or sea views.
The development has been designed in the style of a small Mediterranean village with coloured façades, verandas, spacious terraces, gardens and 3 communal swimming pools. These properties are available now from €489.000. Contact Taylor Wimpey España today on 08000 121 020 or visit www.taylorwimpeyspain.com for more information. If you reside outside of the UK you will need to call 00 34 971 706 244.
La Quinta Golf & Country club brought to you from Spain’s leading internet based estate agency, Spanish Hot Properties affords 2 bed and 2 bath apartments and villas from €555,000 in one of the most important golfing centres in Europe and one of the most popular clubs on the Spanish Costa del Sol hosting the Ladies European tour from the 15th to the 18th September 2011 as well as the European Senior Tour from the 27th to the 30th October 2011. For more information contact Spanish Hot Properties on 0207 558 8355 or visit www.spanishhotproperties.com.
Lastly, award winning estate agent Barton Wyatt brings you golfing heaven at Arcos Gardens. Located in Jerez, Spain, Arcos Gardens range from 2 en suite bedroom townhouses with prime views to 3 bedroom villas and the luxuriously appointed 4 bedroom villas overlooking the 10th and 17th holes and surrounding countryside, with their own communal pools and golf membership worth €30,000. Prices start from €354,400 to €1,411,100. For more information, please contact Barton Wyatt on 01344 843000 or visit www.bw-international.com.