How does golf influence the development of the real estate market on a global scale?
- How does golf affect the real estate market and investment attractiveness?
- Housing at golf resorts: the best combination of comfort and luxury?
- Golf tourism: new horizons in Europe and the future of Cyprus
The modern golf market and the real estate sector have close interconnections that are strengthening every year. Recently, new golf courses are hardly ever created as standalone entities. They are usually integrated into large residential complexes and resorts.
Such projects typically include not only residential buildings like villas and apartments but also a wide range of public facilities – restaurants, sports clubs, spa centers, swimming pools, and sports fields. These comprehensive solutions have become particularly popular in the United States and are now gaining new relevance in Western European countries. In some nations where golf is just starting to gain popularity, there is also a growing interest in such resorts.
Real estate and investments
Real estate in golf resorts is often considered for purchase as secondary housing, which makes the investment aspect extremely important. Golf properties are characterized by a high rental potential, and the companies responsible for operating golf resorts typically offer various management services for such properties.
The quality of the resort is usually directly related to the operator managing its activities. If the resort belongs to a well-known hotel chain, it will undoubtedly be positioned as one of the most attractive and expensive options.
Expert opinions
“In every region of Europe and, in my opinion, in Russia as well, there is a noticeable trend: people prefer to stay in complexes that have a well-thought-out concept, offer a variety of services, have developed infrastructure components, and guarantee a high level of safety,” he noted.Marnix van Barneveldan authoritative expert in tourism and leisure from KPMG.
“This idea originated from the concept of the hospitality industry and is actively used by developers when designing modern residential resorts. A clear trend is that among such complexes, those with golf courses are the most popular. This is because many people appreciate the picturesque landscapes outside their windows, the green spaces around, and the comfortable, prestigious atmosphere created by the golf courses.”
Benefits for market participants
Such proximity significantly benefits both golf enthusiasts and property buyers at these resorts. Golfers, moving from one course to another, have the opportunity to stay close to their playing location – whether it's a hotel room or a rented private villa or apartment.
Owners of such properties not only gain excellent opportunities for renting them out but also enjoy numerous additional benefits if they plan to use their property for personal leisure. The presence of a golf course in a residential complex offers unparalleled opportunities for those seeking not just a place to live, but a lifestyle connected to active recreation and unique experiences.
Trends in growing interest
The growing interest in golf real estate indicates an increasing fascination with this type of leisure and investment, opening new horizons for both investors and golf enthusiasts. Such resorts are becoming unique hubs for people seeking harmony between relaxation and a laid-back lifestyle, making them exceptionally appealing in today's society.
Buying property at golf resorts
When buying property at golf resorts, many residents hope not only for high-quality apartments but also for a level of service comparable to international standards, as well as an atmosphere filled with luxury that the very concept of this type of leisure provides.
The lead developer of WATG, John Goldwyn, notes that just30%Clients are indeed planning to engage in playing golf. Meanwhile, others are more interested in:
- prestigious environment;
- an excellent ecosystem of resorts;
- low building density;
- well-developed infrastructure.
Forecasts and changes in the market
Marknis van Bartheld made an interesting prediction: he believes thatgolfwill play a key role in the future of the global real estate market. According to KPMG experts, over the course of10-20 yearsThe mass movement of people from Northern, Central, and Western Europe to warmer countries will have a significant impact on this industry.
This is due toincreased costsIn their home regions and with the desire to improve living conditions, which is driven by the good financial capabilities of the population, the main participants in this migration will be middle-aged representatives of the middle class, who will, in turn, be looking for affordable and quality housing options.
Golf real estate as an attractive option
Such golf properties look very appealing to people migrating in search of a new place to live. Given the growing interest in this segment, we can expect that the concept of residential resorts will also change.
An increase in the construction of new properties is expected, which will allow developers to offer more favorable purchasing conditions.
Current state of the market
As for the current state of the market, the largest number of golf courses is concentrated inUnited StatesIn Europe, the most popular golf can be found in countries such as:
- United Kingdom;
- Ireland;
- Sweden;
- Norway.
However, Spain and Portugal stand out from other countries due to the large number of golf resorts they offer:
- developed infrastructure;
- various housing options for potential buyers.
Spain as a leader in golf real estate
John Goldwyn emphasizes:"Spain remains the undisputed leader."In Europe, in the field of golf real estate, many new projects are being implemented in this country, offering buyers a wide range of choices.
The competitive landscape in the tourism sector
Nevertheless, Spain is no longer the sole favorite in the tourism sector. It is currently facing increasing competition that can offer more attractive conditions. Spain's main advantage remains its highly developed tourism industry and a wide range of options for leisure.
Advantages of developing countries
In developing countries, there are strong points that attract the attention of travelers. Central European states are known for their long-standing golf traditions, but there are still not enough courses and resorts here. In recent years, there has been an active implementation of various large-scale initiatives.
New golf resort Budapest Gate
One of the key events was the opening of the new golf resort Budapest Gate, located near the Hungarian capital. This project features an 18-hole golf course designed by the outstanding player Christy O'Connor, who gained fame in the 70s and 80s and is now involved in golf course design.
A luxurious five-star hotel will be the main feature of the resort, and there are also plans to build a modern conference center, around which complexes with villas, townhouses, and apartments will be constructed.
- Hotel rooms will be available for purchase, which opens up additional opportunities for investors.
- A preliminary agreement has been reached to hold the Hungarian Open tournament in 2010 at this resort.
The potential of Croatia
Croatia also has great potential for successful golf development. It is one of the northernmost countries in the Mediterranean, located close to Central Europe, where golf can be played year-round.
Currently, there are only two golf courses in the country, but in the near future, this number is expected to increase to ten. The golf resort Porto Mariccio, being built in Istria, is particularly interesting as it will offer its visitors opportunities for both golfing and yachting.
Prospects of Montenegro and Cyprus
The neighboring Montenegro also offers many enticing prospects, although the level of golf development here still lags behind that of Croatia. Cyprus, known as a popular destination for real estate purchases, unfortunately cannot boast a high level of golf development yet, despite all the advantages for it.
“I often visit Cyprus and I know exactly how attractive this destination is for Russians.”– shares the opinion of Marnix van Bartheld.“Today, the Cypriot real estate market is once again attracting the attention of international investors.”and there are traditional reasons for this, such as a comfortable climate, developed tourist infrastructure, and excellent transport accessibility.
In this regard, we can expect that golf in Cyprus will start to develop in the near future, considering the growing interest in this type of active leisure.
Introduction
In conclusion of my research, I want to emphasize that the connection between the golf industry and the real estate market is becoming increasingly noticeable and important. We are witnessing how golf courses are becoming an integral part of the tourist infrastructure and Residential Living Sporting Resorts, which offer residents and tourists a unique opportunity to enjoy the comfort of not only stunning nature but also exquisite architecture.
Market trends
The trend of integrating golf into resort life is gaining more and more significance, and this can be observed both in developed countries and in those where golf is just beginning to establish its presence. The development of residential complexes around golf courses will provide people with the opportunity not only to enjoy playing golf but also to become part of a unique lifestyle where high-quality living and active recreation go hand in hand.
Atmosphere and quality of life
As Marnix van Bartheld emphasized, the appeal of such properties lies not only in the entertainment offered by golf resorts but also in creating a respectful and safe living environment. This leads to real estate buyers increasingly seeking connections with nature and high-quality service, which allow them to enjoy every moment spent in their homes.
Investment opportunities
In the golf real estate market, we are seeing not only a steady increase in interest but also an opportunity for investors to achieve stable income through the rental potential of such properties. Golf resorts are becoming attractive for both permanent living and temporary vacations, which opens new horizons for both investors and golf enthusiasts.
Predictions for the future
Thus, it is safe to predict that golf, as part of the global economy, will continue to develop and influence the demand for residential real estate in the future. It is completely clear that there is a need to adapt the concepts of residential resorts to new conditions and requirements, taking into account the desire of new migrants to purchase quality yet affordable real estate. Exciting prospects are opening up before us, and as a researcher of this phenomenon, I eagerly look forward to seeing how they unfold.
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