Golf Homes Back in Vogue

Key Highlights

• After lull of five years, golf communities are hot
• Golf property searches +26% from 1/20 – 2/21, according to com
• Buyers looking to emerging, more affordable areas with better values, fewer crowds

Demand for Golf Properties Increase +26% in One Year

During the mid-late 20-teens, golf communities and gold courses were hurting. “The game takes too long,” some were saying.  “The game is boring,” said others.  Gen X-ers, let alone Millennials and Gen-Zers, wanted more action and became essentially invisible as players and as potential golf-oriented buyers.

Then came 2020 and the sport as well as golf properties did a 180 switch.

Philip A. White, Jr., president of Sotheby’s International Realty,said, “2020 was the year that golf homes became hot commodities.”  According to the Sotheby’s International Realty 2021 Luxury Outlook report, golf property searches globally jumped +26% from January 2020 to February 2021 compared to 2019.

Golf Communities Adding New Facilities and New Ports to Attract Younger Buyers

The magic word among golf communities in warm weather destinations?  Pickleball.  Around since the 1960’s, pickleball is a racket sport but, according to Mike Meldman, founder ofDiscovery Land Company(developer of luxury golf communities), “…is not your parents’ pickleball…it’s social…a good workout…and the way we play, there’s a lot of trash talking.”

Pandemic-Inspired Demands from Home Buyers  – Outdoor Space and Activities, Privacy, Security and Affordability

Golf communities meet all four highly sought-after demands from potential homebuyers – outdoor space and activities, privacy, security and affordability…if buyers look to emerging markets around the world for better value and fewer crowds.

Here are five up-and-coming golf communities seeing substantial increases in searches and sales, according to sothebysrealty.com:

Bend OR

Some 3-hours southeast of Portland by car, Bend has more than 30 golf courses within a 60-minute drive.  Many courses live within amenity-rich, luxury communities where average home prices run at about $1.5M, substantially less than properties in golf markets such as Naples FL.

Loire Valley France

There are now 15 golf courses in the Loire Valley with more to come. Just two-and-a-half-hours from Paris by car, the Loire Valley offers buyers (primarily from Britain, the Netherlands and the US) golf properties/communities starting at about $1M in the midst of forests as well as centuries of history and great wine and food.

Slovakia

Mike Valdes, the president of eXp Realty, said that Slovakia is one of the hottest emerging destinations for golf in the world.  “With its strong infrastructure and beautiful mountainous landscape, the country is designed for great golf and with that, comes the burgeoning popularity of golf homes.”

Slovakia already has 28 golf courses, several with real estate components.   More courses and golf communities are on their way.

Cape Winelands, South Africa

Cape Winelands, like the Loire Valley, is well known among tourists for great wineries and a thriving culinary scene.  Now this destination, some 45 minutes by car from Cape Town, is on the cusp of being known for prime golf.

According to Maria De Villiers, owner of Chas Everitt Winelands, an area real estate brokerage, South African real estate is relatively inexpensive compared with European prices.  Prospective buyers can find a 3,000 square-foot, four-bedroom home, possibly with a pool, in a luxury golf estate for $500,000.

Nashville

Nashville has a lot going for it – a world-class music scene, great restaurants and no state income tax.  On top of that, add two well-established lux golf communities:  the Governors Cluband the Grove, both with signature golf courses.

Its latest golf community addition is the Discovery Land Company’s Troubadour Golf & Field Club.

(Remember Mike Meldman, founder of Discovery and fan of pickleball from up top in this piece?)

The Troubadour also features horseback riding, fishing, kayaking, game rooms and craft studios.  These lux homes are priced significantly lower than comparable properties in already established popular golf spots such as Palm Beach.

Also check out relatively affordable golf communities in Belek, Turkey, Estepona, Spain, Playa Conchal, Costa Rica, Santa Rosa, CAand Paarle, South Africa. Also look to golf communities in Los Cabos and Riviera Maya in Mexico, which are likely more pricey than the five destinations mentioned above.

Thanks to The New York Times.

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