Housing

Housing, especially near a golf course, can be expensive thus making it such a factor in the golf economy. This factor is highly pertinent since many homes are adjacent to golf courses and those on them will have acquired a higher selling price. A particular example would be a local golf club, Wentworth. On this grand historic piece of real estate there are many houses, each worth in the price range of £3 million and above; the most expensive rumoured to have cost along the lines of £50 million. Usually when buying a house within close vicinity of a golf course you are not necessarily buying the house itself, but instead what it represents: luxury and vast volumes of wealth. Since Wentworth is dripping in golf history and has long been a sign of success it makes it an exclusive piece of property, meaning prestigious real estate companies like CONSERO London are moving into this area. This company single handily has a £1 billion portfolio and an estimated £300 million worth in construction. Since more expensive houses are being built it will drive local house prices up, even outside Wentworth, because it would mean living next to a notoriously affluent estate. In addition to these there are hordes of houses both in England and abroad, including holiday villas which creates tourism and revenue for local businesses. The presence of tourism means a source of revenue for local independent companies, meaning they could build more, or spend more which helps other companies as well, which consequently then engenders the cycle to start again. The Algarve is well known for it being a golfing hub of Europe and produces €7.381 billion/annum that may have predominantly come from golf related companies or will at least be affiliated with golf. Overall housing from golf has benefitted many communities, including abroad and domestic.