They cannot play golf, but they love the lifestyle

When buying golf properties, the rich often turn to Sotheby & # 39; s International Realty. The company has nearly 7,000 real estate listings at any time in more than 30 countries and territories.

"Golf properties have always been one of our best-selling categories," said Philip A. White Jr. president and an avid golfer. (Sotheby & # 39; s International Realty had $ 112 billion in sales in the world in 2018, but has no specific distribution for golf properties.)

Although the demand for homes in golf communities has declined somewhat over the past decade, he said, the market rebounds and new destinations are gaining popularity.

Below you will find edited excerpts from a recent interview with Mr. White.

What about the golf market? houses today?

In general, the prospect looks good. There was a period for a few years, especially in the United States, where the supply of golf properties was greater than demand because so many golf courses were built. But the governing bodies of golf have worked hard all over the world to make the game more affordable, and that has attracted a new set of players and increased demand for golf properties. It also helps that many of these features have become more affordable.

Another factor for jumping back is how golf communities change. In the past it was only about golf and for those who played. But now they have facilities that have nothing to do with golf, which improves their overall appeal to the lifestyle and that is what buyers want today.

Image Philip A. White Jr., president of Sotheby's International Realty and an avid golfer, said new destinations that are now gaining popularity, Mallorca, Saudi Arabia and Being Oman. Credit Stephen Connolly for Sotheby & # 39; s International Realty

Describe the features.

Obviously, every desired golf community must have a top-quality golf course, but there must also be recreational activities that appeal to residents who want more than golf, or don't play at all. These include a spa, multiple restaurants, a swimming pool, and a fitness room.

We also see facilities that go beyond the basics. Some communities have casinos, caretakers that are similar to those in a 5-star hotel, horse riding, go-karting, hiking trails, and bike paths.

Desert Mountain, a golf community in Scottsdale, Ariz. , has hiking, horseback riding in its private wilderness area and even glamping, where you can sleep in luxury tents, and cook cook tailor-made meals.

An increasing number of communities also have options for residents with children, including children's clubs and summer camps.

Do the facilities for children mean that golfing communities attract a younger demography?

Retired have and remain the largest golf house buyers, but there are certainly younger families with children who move in. They are attracted to them because they offer entertainment for the whole family and are well maintained. The safety of these communities is also a big plus.

Are the golf properties that your company sells used primarily as primary homes or vacation homes?

They are a mix of both, and some destinations see both types of buyers. Dubai is an example. The summer temperatures there are more than 100 degrees and you have buyers of a holiday home that are only there in winter. At the same time, the people of Dubai love the idea of ​​living in a golf house because it offers a green landscape in a desert-like environment. In Florida, the golf properties that we sell are usually used as primary homes.

What are the most popular golf destinations for today, and why?

From our experience I can say that Miami and Palm Beach have always been warm markets. Spain and Portugal remain attractive, especially for buyers from the United Kingdom who want to see both countries have a lot of sunshine.

All these places are accessible with a strong infrastructure, such as hospitals and shopping centers, and the quality of life is high.

The island of Mallorca also attracts many international buyers because it has beautiful beaches and English is easily spoken.

What are the emerging destinations?

The Gulf countries, including Saudi Arabia and Oman, are among the largest. These destinations are being developed because those countries want to shift their attraction to tourism and away from oil revenues alone.

Greece is another emerging location. Costa Navarino, in the Peloponnese, is a resort that generates a lot of excitement in the golf world because it has two 18-hole courses, a great golf academy and a beautiful beach. It also has a hotel component and residents can take advantage of all the amenities. But what's interesting is that it's a sustainable community. It has an extensive recycling program and uses waste water for irrigation.

There is natural greenery everywhere and the golf courses have a kind of grass that needs less water than other courses. More golf resorts are becoming environmentally conscious, something that buyers appreciate more than in the past.

Which destinations offer the best value?

Property in the Gulf countries offers excellent value. In Dubai, for example, there is no income tax if you live there, and the houses are extremely affordable, well-built and maintained and have the greatest chance of capital growth. It is also a clean and safe city.

South Africa is another value destination. You can buy a huge house with multiple bedrooms near a high-caliber golf course for less than a million dollars.

In the Caribbean, the Dominican Republic, Puerto Rico and the US Virgin Islands, they each offer great value compared to other islands. Casa de Campo is one of our bestsellers in the Dominican Republic.