Resicom – Holiday Investment – 04-21 – LB

Turkey to be the next international golf resort

According to experts, Turkey is leading the way within emerging markets for golf resort developments, and looks to be a prime future location for international investments in golfing property.

A report, entitled ‘Golf Resorts in the European Mediterranean Region’ has been published by the golf advisory practice of accountancy firm KPMG. It suggests that Turkish integrated golf resort developments have the second strongest mid to long-term growth potential among Mediterranean countries. This view is supported by international property firm Spot Blue, which claims that Turkey offers some of the best opportunities for golf property investment in Europe. The country accounts for 7% of the pan-regional supply, and has the fifth highest number of coastal integrated golf resorts in the region.

Rented villas

The vast majority of Turkish golf resorts still feature hotels only, but the situation looks to be rapidly changing. Golf resorts offering rented villas or apartments, as opposed to just hotels, now account for more than 15% of the market, with further growth expected. This obviously offers greater opportunities for overseas investors looking to get into the buy-to-let sector in Turkey. Golf tourism is also set to be given a boost, as earlier this year Turkey’s Western Mediterranean Development Agency (BAKA) teamed up with Turkish Airlines to launch a scheme intended to attract more French golfers to the Antalya region. The area is home to the Turkish golfing centre of Belek.

France is home to over a million international golfers, many of whom currently travel to Morocco or Tunisia to play. It is hoped that the scheme will persuade increasing numbers to make Turkey a regular fixture on their sporting calendars. With most privately owned golfing property currently in nearby residential developments rather than on the fairway, the demand for better-situated holiday apartments and villas is sure to increase if the initiative is successful.

International attention

This October the Turkish Airlines Open, part of the European tour, will take place at the Montgomery Maxx Royal course at Belek, focussing the attention of the international golfing community on the country. In mid-November, Antalya also hosts the annual G20 Summit, drawing 13,000 international visitors. BAKA hopes that world leaders will take to the golf courses of Belek, further consolidating its reputation as a golfing hub. In any case, demand for rented property in the region is expected to increase dramatically as international attention is drawn to the area.

‘The knock on effect of more golfers, whichever nationality, is a good thing for the local property market,’ says Spot Blue international property director Julian Walker. ‘Belek’s reputation as an international golf hub is snowballing, and more visitors mean more demand for accommodation, which increases demand for lettable property.’

Although France, Spain, Portugal and Italy all currently have higher levels of supply, growing demand now makes Turkey home to some of the best opportunities for golfing properties in Europe. Strong tourism and competitive pricing means potential investors should get ready to tee up and aim for a hole in one by scoring early in an expanding market.

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