Golf communities gain traction 

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PROPERTY consultant Colliers said big realtors may find it worthwhile to look at complementing their property developments with a golf amenity as this feature is again gaining momentum. 

Joey Bondoc, Colliers head of research, said golf communities are starting to become very attractive again. 

Ayala Land Inc., Vista Land and Lifescape Inc., Filinvest Land Inc., Santa Lucia Land and Megaworld Corp. have launched projects in areas that boast of having the best golf courses, particularly in Sta. Rosa, Laguna. 

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“These golf communities are very attractive because of the greater emphasis on safety, exclusivity, luxury, security. If you own a residential unit within a golf community, there’s a very strong rental and price appreciation prospect or potential,” said Bondoc in a recent briefing. 

“This is one segment that will benefit from a greater influx of foreign tourists,” he added. 

Bondoc said golf-related realty investments have come a long way since the slump after the 1997-1998 Asian financial crisis.

Prices of golf and country club shares have been increasing, according to Bondoc. 

“Manila Golf and Manila Polo prices have increased by 107 percent as of 2024 (from) 2021,” he said.

Bondoc said the segment is receiving a boost from the initiative of the Department of Tourism to make golf a priority sector, partnering with private developers like Santa Lucia Land.

The Philippines is being promoted as a premier golf tourism in Southeast Asia. 

Bondoc noted that across Asia, Thailand attracts 700,000 golfers a year.

“So definitely, there’s a lot of interest. We see greater traction for these golf communities,” he said.

Richard Raymundo, Colliers managing director, said the current approach is integrating golf courses in mixed-use projects.

In the 1990s, golf courses were standalone projects.

“A golf course is (now) part of a mixed-use development. It’s part of a product offering. It’s not just the sole source of revenue. (Developers are) probably going to earn more on the residential (component of the project) than on the golf course,” he said. 

Paul Ramirez, Colliers head of valuations, said adding golf amenities in a realtor’s offering provides a premium to land prices in the market.

“A golf course is land intensive. For 18 holes, you’ll need around 30 to 60 hectares. If developers focus on golf, there’ll be a lot of demand for big land area. So big developable land, raw land, agri land, will be converted for golf communities, not counting the residential support and other demand uses that can support it as well. So it will increase the prices of land around Metro Manila,” Ramirez said.

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