Did you know that Golf courses boost home prices?

Golf courses still boost home prices

• The strong statistical evidence supporting a pricing boost for being adjacent to a golf course should help property owners, developers and city officials make quicker and more financially fair decisions,” says Ksenija Bogosavljevic, a graduate student who’s working with Johnson on the study as part of ongoing research on the viability of golf coursecommunities.
• “Thus, there is strong evidence to concluded that golf courses remain a positive draw to potential property owners.” With more than 800 golf courses closing in the United States in the last decade, however, residents, developers and municipal officials around the country are facing decisions on whether to convert underperforming golf properties to housing developments or keep them as golfing communities.
• The study looked at more than 10,000 transactions from properties in Palm Beach, Broward and Miami-Dade counties that sold and closed in 2015, and FAU researchers concluded that having a property adjacent to a golf course adds between 8 percent and 12 percent to property value on average.
• While golf courses around the country face an uncertain economic future, homes adjacent to them continue to command higher prices from prospective buyers, according to a new study of real estate transactions in South Florida by faculty at Florida Atlantic University.

Source: Florida Realtors