soontoretire

Hi,
Four years ago we very nearly bought into a golf club in Spain. The price would have been £30.000 each. The fact that we had 5 years to go before retirement we didn't go ahead. The club is now offering FREE membership. Are things really so bad?

fergy

where is the club?

Rotor

Almost all areas of business are suffering badly in Spain , you were wise to hang on to your money,.

JLFS

It would seem that not so many people are playing "a round"

soontoretire

Costa del Sol

soontoretire

Is it so bad that some may close altogether?

cricketman

There are 60 golf course in the Costa del Sol!

Many were built just so they could build housing around them, so they'd make their money off that.

I play every now and then, prices have come down a bit, but it is still more expensive than the UK. Most courses are still at least 50 euros a head.

I used to play Richmond Park in London for £20!

jackytoo

Most of the golf courses have been suffering for the past few years. This winter must have been the worst season because of all the rain. Our golf club used to get lots of societies from the UK in winter and some days as many as 180 players. Now they think they have had a good day if they get 60 people. Too high prices and the low exchange rate plus some poor winter weather have drove them away. Many are going to South Africa, Florida etc. for the same outlay. Some of the Golf handling/travel companies on the coast have closed down.

Can't see the advantage of free membership if you have to pay for every round

soontoretire

Those villas and houses rely on the golf course to be sucessful and stay open to maintain their location.

soontoretire

You had to buy in if you wanted to be a member for comps etc. but now that is not the case you can become a member without investing. Also the shares have gone right down in value because there is no need to buy in.

cricketman

Yes, I have no doubt the golf course will stay open and make a loss UNTIL almost all the houses have sold (which could be for ever ).

Then what happens is anyone's guess

Rotor

For me I`d steer well clear, there are much better/safer investments around in the UK .

soontoretire

That was our preferred area for golf 10 years ago we went as much as we could. We intended to retire there. The golf memberships were selling up and going up and we nearly panicked into buying a share whilst we could. They doubled in 10 years and now those who want to sell them can't. It got so expensive to play in Costa Del Sol we started going further west and bought a place to retire. not on a golf course. Perhaps still a bad move but not as bad as the golf shares.

jo-ann

That brings back memories, Richmond Park was where we started to play golf many years ago, used to love both courses only problem was very slow rounds of golf.

Emma-Louise

The courses in the Costa del Sol are fighting it as much as they can....

We had the pound/euro problems, the rain, the recession in the Uk, the crisis in Spain, plus other countries i.e. Turkey becoming more popular golfing destinations.....

There is only so far that they can drop their prices.... instead the sensible courses are doing more buggy deals etc.

The buying of the shares has gone exactly the same way as the house buying has...... we look on in jealously at our neighbours house, the one that we couldn't afford 2 years ago and has now been bought for less than we paid for ours! But it could have all turned the other way and we would be laughing!

Such is life!

But don't give up on the golfing here, they are still great courses!