Quest Greek Islands

Hotspots : Golf Property

You don’t have to love golf courses to buy a property on or close to one of the Greek Island golf courses in fact, nearly three-quarters of British investors have never even played golf, yet they choose to buy close to the courses because of the peaceful atmosphere, facilities and security afforded by life on a golf course; golf property is rapidly growing into a large and profitable niche market.

The Greek Islands have several courses and more are in the pipeline, but as most were built several years ago new investors to the market will have to look to the resale market. One of the advantages of buying property on or close to a golf course is the instant social network available and if you enjoy the game you will never be short of a partner. The rental potential is also lucrative for these property owners; low cost flights mean that more golfers pour into the islands for a round of golf in some of the world’s most scenic settings and most of them are looking for accommodation close to the course. On the islands with courses, there is a shortage of turnkey property close o or on the courses and those that are available are pricey in comparison to island home in less strategic locations. However, it is worth going that extra mile with your finances to secure one of the golf locations because in addition to a regular rental income, you can rest assured that your investment will continue to grow just as the popularity of the sport is growing and attracting keen players from former non-golfing markets.

Choosing your Location

You need to research the islands golf courses and short list property available on or close to a course. List the property in terms of its distance from the course and then in terms of price. Further research is necessary to check out the infrastructure around the non- course based property and also to verify its ease of access to the course. You really should look for a property, which combines ease of access to the course with a rich source of entertainment including good beaches, restaurants, cafes and shops. No-one spends all day on the course and these facilities are vital to providing a good all round holiday for even the most avid of golfers. Crete is a good choice because there are two golf courses on the island giving golfers more choice as well as having ferry connections to other islands with courses.

The Growth of the Sport

Once the pastime of the idle rich and the gin and tonic jet set golf has grown dramatically in popularity worldwide; There are about four million golfers in the UK and Ireland alone and over 3,300 courses. Worldwide the golfing set is estimated at around 60 million players. The former Easter bloc countries are set to increase the numbers as more local courses are developed in these countries encouraging the locals to take up the sport. Golfers may have their local course, but their eagerness for trying new and challenging courses has lead to a growth in golf holidays, where golfers can travel base their annual vacation or mini break around the delights of a foreign golf course and with the favourable island climates, the Greek Islands are hot on the list of preferred destinations. Encouraging golf tourism is a key of most national tourist boards – golfers spend more per capita during their holidays than any other set of niche tourists and where there’s golf there is money! Another benefit to owning a golf property is the reduced memberships and green fees offered with the purchase of your property.

The Benefits for Non Players

An interest in golf is not essential to successful investment on the golf courses and even if you plan to use your golf home for your own holidays you don’t have to pick up a club to enjoy the well manicured miles of open green space and wonderfully landscaped surroundings. Many of the island’s courses are located amidst areas of exceptional natural beauty with views out to sea and rugged hills and mountain backdrops. One of the benefits of having such marvelous surroundings is the fact that these views will remain unspoiled, after all no developer can start building in front of your golf course home without ruining the whole course! The course and adjoining facilities must also be maintained to a high standard in order to ensure on-going popularity with visiting players. Additionally golf courses must maintain their courses to a high standard to ensure the constant flow of players, which means your property, will always be surrounded by well manicured land. Golf courses also offer additional security and safety features not offered elsewhere. You can’t simply walk onto a golf complex without passing through its security. And, if you hate golf, many courses offer additional facilities like swimming pools and spas, restaurants and bars all within a stone’s throw from your home.

Rental Returns

Rental returns are always good when it comes to Greek Island golf property. There is always demand for accommodation and a quality home on or near the course, commands a premium higher than any standard holiday accommodation of the same specification. The premium is sometimes as high as 35%-40% giving golf property investors a far better return on their investment. Some golf developments will even secure the rentals for you by offering their own rental scheme and thus taking away the time and effort many ordinary villa owners have to out into advertising for rental clients. Of course if you prefer to advertise yourself there are plenty of golf websites who specialize in attracting golf rentals.

Where to Buy

A fantastic new off plan development is being constructed overlooking the Hersonissos course in Crete. Prices range from 85, 000 Euros upward for a one bedroom apartment with access to a communal pool. The properties not only overlook the course but have magnificent sea views as well and there are plenty of local amenities in the area. Additionally they are only a 15 minute drive from the airport at Heraklion. The development consists of 26 properties with a shop and private gardens. There are some two storey villas available with two bedroom starting at 155,400 Euros and three bedroom villas from 211,050 Euros. This off plan development is the perfect chance to get in early and capitalise in one of the few new golf developments on the island.