Exchange Database
Chinese buying US golf courses
With China's real estate market declining, Chinese investors looking to diversify abroad have found that sand and grass may be a bright spot- buying golf courses. "You can get a return on your money from 8 to 15 percent," Jeff Woolson, managing Director at the CBRE Golf and Resort Properties in Carlsbad, California. "Now we have Chinese investors looking at more than 50 percent of the courses that we bring to market," Karamitsos said. "The Chinese investors seem to gravitate toward development opportunities - golf and resort developments."
Outcomes:
There are about 150 courses per year closing, more than they are opening for the first time. The golf industry got so over built in the 1990s that supply started exceeding demand. Now with golf courses closing, there is more stabilization in the golf course market than in the past. When you compare product types, for instance apartment complexes and single-tenant buildings, there is a greater chance for capital appreciation in golf courses.
Government?:
No
Type of Exchange:
business
Partners:
National Golf and Resort Properties Group
Pacific Links International
Participants (Types):
Chinese investors
Exchange Date:
Friday, June 27, 2014
Continuing:
No
Image:
Location:
United States
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