Global Trends Drive New Demand For Golf Real Estate
A global increase in demand for green spaces, wellness and the opportunity to work from home is driving new interest in golf properties in the wake of the pandemic. Buyers, many of whom are leaving cities, are attracted to golf resorts for their nature, fresh air and five-star services.
These are the findings of a new international audit by European Tour Destinations, a network of 30 world class golf venues, highlighting shifts in consumer behaviour and emerging trends,: New Era for Golf Real Estate. The audit reveals – At Jumeirah Golf Estates, Dubai, UK property buyers now account for 40% of real estate sales, up 10% year-on-year, The number of domestic buyers at Quinta do Lago, Portugal, has nearly doubled from 11% to 20% and PGA Catalunya Resort, Spain, is opening a new Wellness Centre this spring, one of four resorts (also Jumeirah Golf Estates, Dubai, – Lighthouse Golf & Spa Resort, Bulgaria and Quinta do Lago, Portugal) investing over 25 million euros (combined) in new wellness amenities
European Tour Destinations real estate consultant Sandra Ruttle, who conducted the audit, said: “It’s long been the case that non-golfers make up the majority of residents in golf communities, typically 66%. But new buyers are now realising that residential golf communities offer much more than golf.
“In the case of European Tour Destinations, these are resorts with world class amenities and services, communities with shops, restaurants and spa facilities. They are safe, secure, peaceful places to live – and they are proving highly attractive places to live and invest in.” Ruttle highlights how golf property buyers are increasingly from local and domestic markets, often quitting city homes and making their purchase a permanent home, rather than an investment.