Golf Properties In The Med - Does It Have To Be Spain Or Portugal?
The growing propensity for British and other North european golfers to seek golf properties in sunnier climes has resulted in a dramatic increase in the number of golf courses and associated real estate developments being constructed around the Mediterranean and in Portugal.
Most famous amongst these are probably the superb Vale do Lobo complex near Faro in Portugal and La Manga, just south of Alicante in Spain.
But whilst there can be no denying that these two resorts, along with the opulent sun City in South Africa, represent the cream of golf resorts in the sun, real estate in and around these venues has experienced a simply phenomenal growth in values and does come with a rather hefty price-tag attached.
These days of course, golf properties of any description represent a healthy investment potential due to the exclusive nature and scenic surroundings of most golf resorts. And so, most prospective buyers looking for a golfing investment in the sun are trooping to Spain and Portugal in search of the perfect property, when other locations still offer far better value for money, as well as a much greater potential returns on invested capital.
One such location is the Republic of Cyprus in the Eastern Mediterranean Sea.
With only four fully-fledged courses currently operating on the island, the sport is still very much in its infancy in Cyprus. However, having recognised the growing demand for golf properties, the Cypriot government, in association with the CTO (Cyprus Tourism Organisation) have given the green light for the construction of a further eleven to fourteen golf courses alongside the already existing facilities in an effort to firmly establish Cyprus place on the international golfing circuit.
Whilst this construction programme of new courses is spread right across the whole Republic, its crowning glory must surely be the Secret Valley Golf Course and Country club near the fabled Rock of Aphrodite on the islands west coast.
first opened in 1996, two years after the Tsada Golf course north of Paphos, Secret Valley has been a favourite part of the Cypriot golfing scene for many years. In light of the forthcoming expansion plans for golf in the Republic of Cyprus however, the Secret Valley resort has become the subject of a huge expansion programme which, once complete, even the likes of Vale do Lobo and La Manga will struggle to compete with.
Aside from the complete remodelling of the existing course, Secret Valley will see the construction of a further two 18-hole courses, as well as a par-3 pitch & putt course, golf academy, practice greens, multiple driving ranges, football & tennis academies and a host of other associated amenities.
Accompanying Secret Valleys ambitious course expansion programme is the construction of many exclusive golf properties, ranging from hilltop villas overlooking one or more of the splendid courses to apartments set on the hillsides above the newly remodelled clubhouse.
Property prices in the resort do of course reflect its exclusive nature, but they are - as yet - far lower than their equivalents in Spain, Portugal and South Africa. Most experts and analysts do however predict that real estate in and around the Secret Valley golf resort is amongst the finest property investments currently to be found in the Republic of Cyprus.
As you can see, when it comes to golf properties in the Med, it does not necessarily have to be Spain or Portugal. In fact, the smart money is in Cyprus.
Brian Rettendon has lived and worked in the Republic of Cyprus since 2001. As a senior investment consultant for Aphrodite Property Sales Ltd, he benefits from an intimate knowledge of the Cypriot property market and its current and future trends. Visit the Aphrodite web site for more information about golf in Cyprus and investment hotspots in the Republic.
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