{"id":31555,"date":"2026-04-16T15:19:57","date_gmt":"2026-04-16T15:19:57","guid":{"rendered":"https:\/\/andaluciagolf.com\/golf-as-a-real-estate-asset-and-industrialised-construction-in-spains-property-market\/"},"modified":"2026-04-16T16:15:35","modified_gmt":"2026-04-16T16:15:35","slug":"golf-as-a-real-estate-asset-and-industrialised-construction-in-spains-property-market","status":"publish","type":"post","link":"https:\/\/andaluciagolf.com\/en\/golf-as-a-real-estate-asset-and-industrialised-construction-in-spains-property-market\/","title":{"rendered":"Golf as a Real Estate Asset and Industrialised Construction in Spain\u2019s Property Market"},"content":{"rendered":"
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Golf as a Strategic Real Estate Asset and Industrialised Construction Take Centre Stage at the Real Estate Alfil Chair Conference<\/h1>\n<\/header>\n
The Real Estate Alfil Chair at San Telmo Business School<\/a> has hosted a new academic session focused on two key drivers reshaping the real estate sector: golf as a strategic asset linked to residential development and industrialised construction as a response to structural market challenges. The analysis of golf as a real estate asset<\/strong> is increasingly established as a structural trend within international real estate, particularly in destinations with strong foreign residential demand.<\/p>\n

During the session, a particularly significant figure was highlighted: 27% of golf tourists invest in property in Spain<\/strong>, compared with just 5.7% of conventional international tourists<\/strong>.<\/p>\n<\/section>\n

\"Eduardo
Eduardo Olaya and Sof\u00eda Polo during the analysis of the Grupo Polo case.<\/figcaption><\/figure>\n
The event brought together experts from the business, development, architectural and institutional sectors in a session combining sector analysis, operational experience and academic reflection on value creation in real estate.This approach helps to better understand how golf as a real estate asset<\/strong> is reshaping the way high-value residential developments are structured, particularly in established tourist areas.<\/p>\n<\/section>\n
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Golf as a Real Estate Asset: Investment, Loyalty and Residential Value
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One of the central blocks of the session focused on golf as a real estate asset<\/strong>, with contributions from Carlos Pitarch, Vice President of the Spanish Association of Golf Courses.<\/p>\n

Pitarch highlighted the scale of the sector in Spain, with more than 1.4 million annual tourists<\/strong>, an economic impact of nearly \u20ac16 billion<\/strong>, and around 133,000 jobs<\/strong> generated.<\/p>\n

He also emphasised its ability to attract high-value tourism, characterised by higher spending, longer stays and a clear contribution to reducing seasonality.<\/p>\n<\/section>\n

En relaci\u00f3n con el mercado inmobiliario, ha destacado la vinculaci\u00f3n entre turismo de golf y adquisici\u00f3n de vivienda:
\n\u201cWhile 5.7% of international tourists buy property in Spain, in the case of golf tourists this figure rises to 27%\u201d
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He added that this profile is \u201cmore loyal to the destination and has a stronger intention to remain long term\u201d.<\/p>\n

He also highlighted the impact of golf on real estate value appreciation, noting that in certain golf-linked areas, property prices have experienced significant growth in recent years.<\/p>\n

However, he stressed that the success of these developments does not depend solely on infrastructure:<\/p>\n


\n\u201cA golf course alone does not generate value. What makes the difference is the ability to create life, community and experience around the asset\u201d
\n<\/em><\/p>\n

In this regard, he advocated an integrated development approach:<\/p>\n


\n\u201cIt is not about developing a project with a golf course, but about understanding golf as a core part of the product and managing it professionally from day one\u201d
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Industrialisation: Efficiency, Scale and a Changing Model
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Another key focus of the session was industrialised construction, analysed in a panel discussion with representatives from AEDAS Homes and ARQUERMO Architects.<\/p>\n

The debate highlighted that industrialisation addresses structural challenges in the sector such as housing shortages, a lack of skilled labour and low productivity.<\/p>\n

Jos\u00e9 Ignacio Fern\u00e1ndez de J\u00f3dar noted that while manufacturing industries have improved productivity by around 40% over recent decades, the real estate sector has seen little progress.<\/p>\n

Industrialisation aims to close this gap through process standardisation.<\/p>\n

However, he clarified that it does not currently imply lower costs: \u201cToday we do not build more cheaply, but it does provide certainty in timelines, risk reduction and greater control over the process\u201d.<\/p>\n

Jes\u00fas Olmedo explained that in certain sectors, construction models already exist that allow buildings to become operational within weeks thanks to off-site modular manufacturing.<\/p>\n

Both experts agreed that this model represents a profound transformation of the value chain, shifting weight towards earlier stages such as design, engineering and logistics, and requiring greater coordination between stakeholders.<\/p>\n

They also warned about current challenges, including the need for scale, limited industrial capacity and energy infrastructure constraints already affecting some projects.<\/p>\n<\/section>\n

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\u201cThe combined analysis of both areas highlights a broader transformation of the real estate sector. While assets such as golf are reinforcing structural demand and long-term value, industrialisation is changing how that value is created and captured.\u201d<\/p>\n

\u2014 Josep Mor Figueras, Professor of Finance and Academic Director of the Chair<\/p><\/blockquote>\n<\/section>\n

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Business Analysis and Advisory Board Activity
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During the session, the Grupo Polo case was presented in a discussion between its CEO Sof\u00eda Polo, Professor Eduardo Olaya and members of the advisory board.<\/p>\n

In addition, several advisory board companies shared their activity: Ansan, Meta 360\u00ba, Urbea and KPC.<\/p>\n<\/section>\n