Words: Ashley Rigg
Published: 17th March 2010
Do golf courses really sell overseas property?
Reprinted with the permission of International Property Journal. Talking to Nicaragua developer Kevin Fleming the other day, the subject turned to golf - specifically the value of golf in a modern second home resort.
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User Comments
The few resorts with golf courses here in Brazil have little more than 2,000 rounds a year being played on them, making for big losses each year. However, the experts say that once there is an adequate critical mass with more courses being built then this scene will change radically. Can someone tell me where this has happened? What proof is there to justify such large investments which cannot be sustained by property sales alone, particularly in a country where few people play golf?
Raymond Smith,
Magno Smith
Being an Agent who specialising in golf course homes, this interested me. One of the major reasons for installing a golf course are hoped for higher sales prices and an easier planning process. But as Kevin Fleming says, golf courses are only part of the equation. A good F&B offering is essential, tennis and gym essential too. Hotel with conference facilities even better. I'm not convinced about spa's though unless it get's a lot of use or have low overheads. Equally, equestrian facilities? No, not in euroland. What is key is to involved locals. Too many resorts sell too much of the resort to foreigners who will rarely use any of the facilities...
James Wyatt,
Barton Wyatt