Golf Decline Affects Miami, Palm Beach Real Estate

by Isaac Benmergui, Esq on February 2, 2012

The once prestigious second home market in golf resorts has fallen victim to the housing bust and a decreased interest in the sport. The National Gold Foundation reports that the 13 percent decrease in the number of golfers nationwide has put a local strain on golf-centered communities, such as those in Miami and Palm Beach. Since the early 1990s club memberships have decreased by one million members, and homes that could be sold without ever having sported a ‘for sale’ sign, now languish on the market.

The once steady trend of retirees purchasing a second, or even principal, home on a sunny South Florida course has steadily declined as retirees no longer have the assets they once anticipated going into retirement. The pricey real estate and club fees simply aren’t a viable expense for many senior golf enthusiasts and younger professionals aren’t taking up the sport with the same vigor as past generations.

If you’re buying or selling a home in South Florida, the law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

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