IS IT ONLY GOLFERS THAT BUY PROPERTY IN GOLF ESTATES
Category Lifestyle
Case Study and Findings
The assumption is often made that only golfers buy property in golf estates, however this assumption is flawed.
In a case study done in Silver Lakes Golf and Wildlife Estate it was found that less than 30% of all property owners were members of the Silver Lakes Golf Club. Although this interesting statistic was calculated a number of years ago, it is doubtful that this trend would have changed significantly since then.
Case Study Methodology
The abovementioned calculation was done by comparing the member's register of Silver Lakes Homeowners Association (the list of property owners) to the list of members of the Golf Club. At the time the comparison did not take into account immediate family members who may be golf members but only if the owner or duly authorised representative of the property was a member of the Golf Club. Consequently the comparison was based purely on owners of properties.
Future Trends
Even if there is now a variance in the above percentage, it still demonstrates that purchasers who buy property in a golf estate are not necessarily purchasing to play golf but factors such as lifestyle and security play a more critical role.
The indirect value from having a golf course in an estate cannot be over emphasised. A golf course helps by providing undeveloped recreational space, including areas where jogging and walking can take place when the course is not in use by golfers and the prestige associated with a top-notch golf course is an added bonus pushing up the values of properties located in a golf course estate.
Investing in property in an estate that boasts a golf course is a wise choice and certainly not the exclusive domain for golfers as the case study demonstrates.
Author: Ikonic Real Estate
