For
many overseas property investors Lanzarote
and the Canary Islands are simply synonymous with bucket and spade beach
holidays.
But golf property
is fast becoming a large and lucrative niche market. Offering
impressive levels of capital appreciation and exciting returns for players
and non-golfers alike.
This growth
reflects the booming popularity of the sport worldwide. In the UK
and Ireland, for example, golf is no longer the sole preserve of the gin
and tonic set and there are now over 3,300 courses and millions of participants.
And the Canary
Islands offer perfect playing conditions all year thanks to the clement
climate and low rainfall. With temperatures rarely falling below
21C.
Victorian
Values
The game of
golf was, in fact, originally introduced to the archipelago by British
businessmen during the 19th Century who were busy exporting and
shipping goods such as fresh fruit back to the UK, via Canary Wharf in
London.
In typical
Victorian fashion these gentlemen were keen to pursue leisure as well as
business interests wherever in the world they were posted - and
as a result they created the first ever course on the islands, The Royal
Golf Club of Las Palmas, Gran Canaria in 1871.
Par For
The Course
Today, golf
features prominently in marketing campaigns for the Canary Islands and
the game is viewed positively by local tourist authorities (who are keen
to wean the islands from the current over-dependence on bucket and spade
tourism) as a means of attracting more up market visitors with greater
levels of disposable income.
And with average
green fees in the Canaries ranging from €60 to €200 per person
for one round of golf there would appear to be some logic in this strategy.
As a result
there are now seventeen golf courses across the seven islands with plenty
more at the planning stage or in the pipeline. Industry experts believe
that any destination requires at least three courses in order to really
appeal to the keen golfer. As these enthusiasts seek variety and
dont want to play the same course for an entire week.
This expansion
in the number of courses has in turn fuelled the number of golf properties
available to investors as good quality villas and apartments usually
form an integral part of these developments.
And interestingly,
it isnt just golfers who are getting in on the game and taking advantage
of the opportunities available. As industry estimates suggest that
around 75% of investors have no interest in playing golf at all.
So why are
golf developments enjoying such an upswing in popularity?
Green Dreams
Whilst a little
too manicured for some tastes, most golf developments offer acres of green
space and beautifully landscaped scenery. Often they are situated amidst
areas of outstanding natural beauty and incorporate elements such as lakes
and ravines. Creating a very attractive overall living environment. |