Buyers of golf resort real estate are younger and acting more decisively, according to new research.
They are also prepared to pay on average 19% more to live inside a golf resort than outside, and a further average premium of 16.5% to have a view of the course.
These are the findings of the latest study conducted by European Tour Destinations, a network of world-class golf venues, and explained in a new multimedia feature: A Changing Landscape: Golf Real Estate in 2024.
Sandra Ruttle, European Tour Destinations’ real estate consultant, said: “We felt it was the right time to conduct this new study to understand the market post-pandemic.
“Having undertaken similar research in 2018, it made sense to update our earlier findings and get a clearer picture of the current golf property market, premiums, buyer profiles and any new sector trends.”
The report, based on the completed sales of 138 plots, villas, townhouses and apartments during 2023, gives a clear picture of the market and highlights the shifts in consumer behaviour. It also reveals the sales and marketing tools driving success for venues in the network.
“It’s heartening that real estate within European Tour Destinations resorts still commands higher prices than equivalent homes outside the venues,” continued Ruttle. “This demonstrates our venues’ determination to stay ahead of the curve and deliver services and value that outstrip the local competition.
“Other insights from this research include the average age of buyers, which is now in the early fifties, down from around retirement age – something that can be attributed to rising wealth in younger people and the trend for working from home.
“And they are making decisions quicker. In the past, it would take typically three to four visits before buying; now it’s one or two visits for the vast majority of sales, with an average buying period of 12 weeks from initial contact to purchase completion.”
A Changing Landscape: Golf Real Estate in 2024 also shares insights from Camiral Golf & Wellness in Catalonia, Pirin Golf & Country Club, Bulgaria, Estonian Golf & Country Club and Quinta do Lago in Portugal.