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Golf drives Spanish property market

5th February 2007 | back to article listings BACK    print this article PRINT

The popularity of golf on the Iberian peninsula is helping drive the Spanish property market, according to a leading expert.

The country has a range of top courses created by some of the world's best designers and properties set back from the fairways and in specially built complexes are proving extremely popular with foreign investors.

Golfers flock to Spain in their thousands each year, attracted by the year round superb golfing weather, beautiful, well maintained courses and the option of taking an afternoon dip in the Mediterranean or villa pool after an enjoyable 18 holes.

According to a leading Spanish property expert, the demand for new courses and attached properties shows no sign of dwindling, despite the extensive facilities that are already in place in the country.

"Golf tourism is an area of 'strong growth' and is fuelling the Spanish and Portuguese property markets, Paul Collins, the overseas property editor at Buyassociation, claims.

"For the builders to fund the golf courses they build properties around the site. Thus we are seeing more golf property developments appearing in overseas property, even in Spain and Portugal, where there are already large amounts of golf facilities and properties associated with golf courses.

"This has an affect not only on the properties being built, but also the rental prospects of the properties on-site."

He added that many of the new courses are being designed by well-known current and past players, such as Tiger Woods, Greg Norman and Jack Nicklaus.

Mr Collins believes that in a country where short-term investment potential is increasingly difficult to find in the traditional beach resorts, golfing properties could be a good idea for those intent on purchasing a Spanish home with a view to making a profit.

"Some areas are nearing saturation so there is not much potential to make short-term gains," he said, adding: "Areas such as Costa de la Luz are still attracting investors for golf properties in particular."

Before purchasing that dream home on the edge of the 15th fairway, however, Mr Collins suggests that independent, expert legal advice should be sought to avoid any potential pitfalls.

He stressed that you can save yourself "significant amounts of money and heartache", by paying for impartial advice.

There are a number of British-based services that specialise in advising customers on foreign properties, ensuring that that dream golfing home proves a successful investment.

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