Tee Time Investing in Golf Property

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 don’t 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 isn’t 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.

Many investors are drawn by the fact that these views will remain both well maintained and unspoiled. As there is limited space to build around a golf course and a new apartment block cannot just be erected on, say, an existing green.

The course and adjoining facilities must also be maintained to a high standard in order to ensure on-going popularity with visiting players.

So this provides a degree of security and permanence that cannot always be applied to other types of property development.

Fore The Facilities

Most golf developments offer a lot more than just a golf course alone.

Often a whole complex has been created around it, comprising facilities to appeal to all members of the family – such as spas, swimming pools, shops and restaurants.

Essentially making most golf developments small, self-contained resorts in their own right.

So there can be a very considerable difference between purchasing a golf property – with all the added extras and facilities that come with it and – a standard villa or apartment in a conventional holiday resort.

Another key consideration for golfers is that most of these properties come with other additional perks attached, such as free or reduced membership and green fees. Which can represent a very considerable saving over the course of a year.

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