Apr 29th, 2018
US Golf Economy Report released
Shows golf generated $84.1 billion in economic activity in 2016!
This included $9.34 billion in the golf real estate market, including $7.24 billion in new home construction.
The last time the Golf Economy Report was released in 2011, the comparable figures were just $4.74 million and $3.14 million respectively, so there has clearly been a huge pick up coming out of the financial crash back in 2011.
While the growth is a reflection of the economy overall, it has to encouraging news for the golf industry.
Cordillera Ranch is just one example of a new golf development which is really doing the numbers. It is home to a Nicklaus signature course in the Texas Hill Country, and has done $100 million in real estate sales for the past three years straight.
But it is not just golf that is driving sales, and the likes of Cordillera Ranch are offering everything from fishing and shooting, to horse riding and hiking.
And it is this combination of amazing locations, and wider leisure and sporting activities that are driving success for other developers.
Another example is Kohanaiki – Kona, in Hawaii. It is a private club community built across 450 oceanfront acres on the Big Island of Hawaii, and boasts one and half miles of ocean frontage.
There’s a Rees Jones-designed oceanfront course, and a beach club. But you will certainly be paying for the priviledge, as houses start from $3 million and can rocket up to as much as $22 million.
Another case in point is Reynolds Lake Oconee -in Greensboro, Georgia. This resort community has a Ritz-Carlton hotel as well as 2,500 condominiums, cottages and single-family homes.
The scale of the place is simply enormous, with 350 miles of shoreline as well as six golf courses -- including two ranked among the Top 100 public or resort layouts in the whole of the USA.
And back in Hawaii again, there’s the brand new Timbers Kauai.
This is a luxury oceanfront residential community with a Jack Nicklaus-designed Ocean course.
The course features the longest stretch of oceanfront holes in Hawaii, and it has already seen $50 million in pre-sales before it officially opens on June 1st.
As the American economy continues to grow, there’s clearly money to be made by developers who can pick the right locations, and offer golf and other leisure activities to lure in new buyers.
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