Property developers are taking advantage of the demand for homes overlooking golf courses.
According to David Faulkner, Managing Director for Valuation and Advisory Services at Colliers Asia, golf courses generally boost property prices. “Residential communities with golf courses are very popular in the Philippines,” he said.
Ferdinand Martin Romualdez, President of the Manila Golf and Country Club, also echoed this sentiment. “Golf courses add value to nearby properties. The real estate projects facing the club command a premium price because of the good views and the greens.”
One of the major property players that are capitalizing on this is Megaworld Corporation, with its five-hectare township project ‘Forbes Town’ in Fort Bonifacio. According to Noli Hernandez, Senior Vice-President for Sales and Marketing at Marketing, the project’s “priceless Manila Golf scenery” is one of the projects main selling points.
“One of the best, if not the best, attractions of this particular township is its proximity to, and stunning views of, the Manila Golf Course,” said Noli Hernandez, senior vice-president for sales and marketing at Megaworld, adding that it was also the most exclusive and expensive course in the country whose membership was coveted by all golfers.
“And while this is an obvious value addition to Forbes Town, for most residents in the township the greens of Manila Golf provide a welcome respite from the city’s air, noise and visual pollution.”
Manila Golf is surrounded by Forbes Park, a development project by Ayala Corporation that is home to some of the country’s most affluent families.
For her part, the General Manager of Fairways and Bluewater Boracay, the operator of the only golf course on the island, the property help bring in business for surrounding businesses.
“For hotel and resort properties, golf tournaments bring domestic and international golfers who require accommodation for the duration of the tournament. This likewise positively impacts the businesses that surround the golf courses,” said Catherine Marcelo, general manager of Fairways and Bluewater Boracay.
Source: South China Morning Post
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