Golf Real Estate in Full Swing

In recent years the Spanish property market has been steadily growing, with sales figures at their highest levels since the 2008 global financial crisis. In May this year, 32,512 homes sales were recorded, which is an increase of 23% on May 2015 records and also marks the fourth consecutive month of double-digit annualised increases. According to Arum Group, the luxury developer behind La Manga Club, Murcia and Abama Luxury Residences, Tenerife, this current period of prosperity has been fuelled in part by the popularity of the golf industry, a key driver behind near 3,000 property sales in 2016 alone.

One of the most popular sports in Spain and contributing over €2 billion each year to the economy, golf is also a big draw for overseas buyers looking for a holiday home. It is estimated that 160,000 Britons living in Spain do so either on or close to a golf resort, with over 8,000 property purchases in Spain per year directly linked to the sport. Due to this strong market demand, the proximity to a golf course can add up to 25% to the value of a property compared to a regular home.

Commenting on the strong impact the sport of golf has had on Spanish real estate, Agustin La Rocca, Sales Director at Arum Group, said: “The Spanish property market is currently on an upward curve and one of the main drivers is the golf industry. We have certainly noticed the appeal that having world class golf courses adds to real estate developments. At both La Manga Club and Abama we are graced with outstanding examples and there is no doubt that they add to the appeal for our buyers. For a start it means that their views will never be interrupted or built upon and also means that the peace and tranquillity of the area will be preserved’

A report recently published by the Real Federación Española de Golf states that 68% of golf courses in Spain have a direct or indirect link with a real estate development, and that 234,500 properties enjoy ‘direct’ access to a golf course.

In line with increased real estate sales golf has also had a positive impact on the Spanish tourism industry with visitor numbers increasing 36.3% in the first quarter of 2016 compared to the same period in 2015, in the region of Murcia alone.

La Manga Club, a 1,400 acre resort in Murcia popular with sports enthusiasts, has seen strong sales thanks to its on-site sporting facilities including three golf courses. It also reports, a rise in visitors using the available rental accommodation. These findings are supported by the Murcia Tourist Board, which recently released data highlighting that tourists staying in private rented accommodation in the region has risen by 25.6% in 2016 compared to the same period last year.

There is a similar story at the Abama Resort in Tenerife, which features an 18 hole Dave Thomas designed golf course and tennis academy. 45 units were sold in 2015, almost 50% more than predicted, with all purchasers attracted by the lifestyle offered by the resort and its amenities.
A range of residences are available across both resorts including apartments, townhouses, turn-key villas, plots and custom villas.
For more information visit www.abamahotelresort.com and www.lamangaclub.com