Golfing glory for foreign investors

Golfing glory for foreign investors

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A new trend is emerging in Europe, with an increasing number of property purchasers keen to buy second homes on golf courses.

Many people are increasingly attracted to the idea of spending money on a second home in a foreign country that is located on a golf course, but they’re not necessarily interested in playing the sport. According to some investors, the main reason for purchasing a property on a golf course is not to have the opportunity to hit a ball around the course whenever they feel like it, but it is simply to enjoy some of the most beautiful landscaping work from the living room window.

Spain is renowned for some of the most impressive golf courses in the world, which are usually accompanied by sports and health complexes such as the famous La Manga resort a favourite for football stars during the summer months. The quality of such institutions is having an effect on buyers, who are increasingly keen to purchase homes on golf courses because of the breadth of services easily available to them.

And then there’s the courses themselves. As David Spencer, director of Nakheel Golf, which is currently building a course in Dubai, people do not have to be interested in golf to appreciate the spectacular views a course can offer. People are “very pleased to have Greg Norman landscape their backyard”, he told the International Herald Tribune, even if they would not be interested in taking on the Great White Shark on the fairway.

In some parts of the world golf courses are now becoming integrated into housing initiatives, so that beautiful landscapes are crafted as part of new housing estates. Spain can benefit from this trend, with its reputation in the golfing world dovetailing beautifully with its strong presence in the overseas property investment arena.

Regions such as the Costa del Sol have seen prices rise by as much as a quarter in the last five years, thanks to the increase in developments using golf courses as part of the attraction. It seems that property developers have caught on to the major potential in combining golf and housing developments in one programme and the fact that many Brits are keen to spend their money to play golf means that the Spanish property market is set to continue benefiting from the trend.

Source: Assetz