Location, location, location
Properties within golf course estates aren’t solely purchased for their lifestyle attractions, as the capital growth on offer to investors can be exceptional.49Property analyst Michael Matusik researched the performance of golf course estates over a five-year period, between 2001 and 2005, and he found that the best performing golf estate properties, in terms of capital growth, were located on the waterfront.
He also discovered that the better performers had plenty of open space, meaning that the estates with a smaller number of dwellings grew in value faster than those that were congested with a higher density of dwellings.
However, Matusik also has a word of warning for investors who might be considering a property on the fairway, saying that some ‘name’ golf courses, which are designed or endorsed by celebrities or athletes, “are becoming saturated”, which can diminish the ‘novelty factor’.