NEW STUDY HIGHLIGHTS HIGHER VALUES OF HOMES WITHIN GOLF RESORTS
• Homes within golf resorts worth 19% more than equivalent homes outside resorts
• Homes with golf course views benefit from additional 9.5% price premium
• More than two-thirds (67%) of property buyers at golf resorts are non-golfers
Homes within golf resorts are worth 19% more on average than equivalent properties outside resorts, a new study has revealed.
The most valued properties within golf resorts are those with golf course views, which benefit from a 9.5% price premium compared to properties without course views.
The study was conducted by European Tour Properties, a global network of 27 world class golf resorts and courses, with results based on a sample of nine golf resorts and the completed sale prices of 500 plots, villas, townhouses and apartments during 2017.
The sample includes leading international resorts Quinta do Lago, Portugal, Terre Blanche, France, Finca Cortesin, Spain, Jumeirah Golf Estates, UAE, and Black Mountain, Thailand.
Sandra Ruttle, Real Estate Consultant at European Tour Properties, said: “From the perspectives of both developers and property buyers, being able to evaluate golf property prices and show their resilience is important in making informed investment decisions, which is why we undertook this study.
“The resorts surveyed include some of the best known and most successful case studies of international golf resort developments, so the findings are relevant in terms of what they tell us about the market today. And it is clear that properties on golf resorts, especially those with views over the golf course, generate price premiums.”
Asked what proportion of the 19% golf resort premium was attributable specifically to a tournament quality golf course versus leisure amenities, the resorts estimated more than half of the additional value (54%) was attributable to golf, with 46% attributable to leisure.
The study also confirmed that the majority of buyers of golf resort properties are not golfers. In fact, more than two-thirds of home owners (67%) are non-golfers.
However, there are some exceptions, notably Black Mountain in Thailand where 98% of property owners are golfers.
Overall, buyers of properties at golf resorts tend to be international rather than local or national, with 84% of purchases made by overseas buyers.
The nine venues in the European Tour Properties network included in the study were:
• Terre Blanche Hotel Spa Golf Resort, France
• Quinta do Lago, Portugal
• Troia Resort, Portugal
• PGA Catalunya Resort, Spain
• Finca Courtesin Hotel Golf & Spa, Spain
• Jumeirah Golf Estates, Dubai, UAE
• Black Mountain Golf Club, Thailand
• Bom Sucesso Resort, Portugal
• Estonia Golf & Country Club, Estonia
Sandra Ruttle continued: “With urbanisation growing, owning a property on a prestigious golf resort is a much sought after investment which carries a premium reflecting the service, security and integration with other on-site leisure facilities – all key assets sought after by international buyers in particular.
“The vast majority of venues within the network are located close to an airport, which increases the attractiveness of the locations for both property owners and people on holiday. Many are situated within established golf destinations and this, coupled with hotel and extended range of leisure facilities, makes buying a property at a European Tour Properties member venue a very attractive proposition.”
