THE GOLF OPPORTUNITY FOR GREECE

THE GOLF OPPORTUNITY FOR GREECE
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Why Greece
Golf is one of the most promising investment opportunities in Greece today
and the potential for growth in this under developed market is outstanding.
Tourism: Greece is one of the top tourism destinations in the world. The number of
tourism visits over the last decade has shown a steady increase. From 17 million
international visitors in 2008, it is expected that in a few years this number will reach 20
million, almost twice the country’s population. The well-developed tourism infrastructure
throughout Greece is a perfect balance to further expansion. Hotels, restaurants,
transport, and a full range of leisure activities and cultural attractions are well suited to
complement the sport of golf
Climate: Greece’s Mediterranean climate is ideal for year-round tourism and one of the
core priorities of Greece today is to create a dynamic, sustainable, four-season tourism
infrastructure that responds to the diverse and challenging needs of the 21st Century. Golf
can be played all year round due to the favorable climate.
Accessibility: Easily accessible from the main tourism source markets of Europe, N.
America and Asia
Second home market: New, comprehensive legislation allows for mixed tourism
development and opens up the potential of holiday homes in Greece. Experts estimate
that more than 1 million Europeans would consider a second/holiday home in Greece. A
wide variety of large, attractive, suitable plots of land are available for development
throughout most of the country.
Legislation: The Law (4146/2013) facilitates the residence of investors in Greece through
the granting of residence permits for executives of Strategic Investment projects. In
addition, third-country citizens (non-EU citizens) and their family members, who buy
property in Greece, the value of which exceeds €250,000, may obtain residence permits.
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Current Situation – Main characteristics
Golf in Greece is still at a relative early stage of development but the potential for
growth is significant (i.e. Late Starter Advantage). The current number of 18-hole
courses is seven, compared with 250 in Spain and more than 50 in Portugal.
Nevertheless, Greece is currently seeking new development of golf courses and golf
clusters with integrated accommodation and service facilities
 8 golf courses (yellow pins) in operation (7 golf 18-hole courses) in:
- Athens (Glyfada Golf Course),
- Corfu (Corfu Golf Course),
- Rhodes (Afandou Golf Course),
- Chalkidiki (Porto Carras Golf Course),
- Messinia (Costa Navarino Dunes & The Bay Course),
- Crete (Crete Golf Club & Porto Elounda Golf Club‘’9-hole’’)
TARGET: THE DEVELOPMENT OF 25 BRAND NEW INTEGRATED GOLF
RESORTS FOR THE NEXT YEARS
Announced golf courses (green pins) in:
- Magnesia Prefecture
- Viotia Prefecture
- Peloponnese Region
- Crete
Potential for significant growth:
- Number of local registered golfers: 1,780
- 30,000 golfers use the courses annually
While four out of seven regular 18-hole golf courses stand alone, three are part of
larger tourism complexes. Costa Navarino (Messinia) is the first master-planned,
integrated golf resort development in Greece.
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Suitable areas for integrated golf resort development
(Potential suitable private properties of the public sector )
Among the areas which are suitable for golf related development there is a number of public sector private
properties which can provide a good basis for potential investors in golf in Greece.
- Rhodes / Kos islands
- Corfu island
- Crete
- Chalkidiki
- Thessaloniki
- Ilia (Peloponnese)
- Rhodes
/ Kos islands
- Fthiotida
- Corfu island
- Crete
- Chalkidiki
- Thessaloniki
- Ilia (Peloponnese)
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Rhodes – Kos
(Public sector private properties suitable for integrated golf resort development )
Rhodes –Kos: popular tourist resorts, open year-round, enjoying an exceptionally mild climate. They combine all that is needed in a holiday island,
such as beaches, night life, culture, scenery, wild life and sports. It’s easy to get there through their international airports. The two islands have all
the elements to become key golf destinations in the Mediterranean.
Rhodes
Rhodes already has one golf course (Afandou) in operation. A cluster of seven
properties is available for two, or three, integrated resort developments with golf
courses in the southern part of the island.
Areas (approx.):
75,583,000 sq.m
22,945,000 sq.m
12,144,000 sq.m
3,080,000 sq.m
1,092,000 sq.m
3,692,000 sq.m
19,285,000 sq.m
Kos
There is one available suitable site for an integrated golf resort development,
located in the north-eastern part of the island.
Area (approx.):
27,450,000sq.m
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Corfu
(Public sector private properties suitable for integrated golf resort development )
Corfu is an established and popular tourist destination, best known for its
famous beaches surrounded by lush greenery and its great cultural heritage,
easily accessible through international airport.
One golf course is already in operation on the island, and it is located near the
main town.
There is one site suitable for integrated golf resort development, located in
the south-western part of the island.
Area (approx.): 1,788,000sq.m
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Crete
(Public sector private properties suitable for integrated golf resort development )
Crete is the largest and most popular island for tourists in Greece. It is located in the southern part of the Aegean
Sea. It is a dynamic region with rich natural and cultural heritage of Greece while retaining its own local cultural
traits.
Two million tourists visit Crete every year. Easily accessible with direct flights to its two international airports in
Heraklion and Chania, or its smaller airport in Sitia, or by ship to the main ports of Heraklion, Chania, Rethimno,
Agios Nikolaos and Sitia.
There are two available potential suitable private properties of the public sector for integrated golf resort
development, located in the island.
Area (approx.): 900,000sq.m.
Area (approx.): 900,000sq.m.
Area (approx.): 738,000sq.m.
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Thessaloniki – Chalkidiki
(Public sector private properties suitable for integrated golf resort development )
Thessaloniki is Greece’s second city and a very important harbor. It’s easy to get
there through the international airport “Macedonia”, which is located around
20km south of Thessaloniki and connects it with the mainland and abroad.
There are two available potential suitable private properties of the public sector
for integrated golf resort development, and both are located in the southern
part of the greater area of Thessaloniki.
Areas (approx.): 1,360,000 sq.m
1,412,000 sq.m
Chalkidiki is one of the most popular summer tourist destinations of northern
Greece, and it lies some 65 km southeast of Thessaloniki.
It is well known for its lush green forests that reach right down to the beach and
a traditional style with rich gastronomic and cultural heritage, and it also has
some of the most well known luxury hotels in Greece.
Area (approx.): 735,000 sq.m
There is at least one site suitable for integrated golf resort development located
in the western part of Chalkidiki.
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Peloponnese
(Public sector private properties suitable for integrated golf resort development )
Peloponnese is a traditional geographical region in the southern part of Greece.
Western part (Ilia)
Ilia is mostly known, worldwide, for ancient Olympia and the glory of the Olympic Games.
The area has good access by road. The area has a number of excellent beaches.
There is at least one available potential suitable private property of the public sector for
integrated golf resort development in Ilia Prefecture.
Area (approx.): 6,000,000sq.m
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In Summary
 Greece is a prime emerging destination
for golf and golf related tourist complex or
residential development.
 An excellent year-round climate, modern
facilities and a wide diversity of natural and
cultural assets attract tourists, tournament
organizers, developers and investors.
 Recent changes in the legal context
simplify and speed-up procedures for
integrated resort development investments.
 Greece is looking forward to such
interesting prospects.
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Access – Global, National & Regional Level
Flight times to Athens Intl. Airport
 Istanbul:
 Zurich:
 Paris:
 London:
 Moscow:
 Berlin:
 Dubai:
Flight times from Athens Intl. Airport to:
Thessaloniki:
0h 55’
Corfu:
1h 00’
Heraklion (Crete):
0h 50’
2h 50’
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


Chania (Crete):
0h 50’
3h 00’

Peloponnese (Kalamata):
0h 45’
2h 30’
 Kos :
 Rhodes :
1h 40’
2h 40’
2h 30’
4h 00’
Distances / Drive-times from golf site to the nearest local airport







0h 50’
1h 00’
Thessaloniki/ Chalkidiki : 10’ – 4 km/ 1h – 80km
Chania (Crete):
0h 25’ – 30 km
Heraklion (Crete):
0h 20’ – 13 km
Corfu:
0h 30’ – 20 km
Ilia (Peloponnese):
2h 00’ – 147 km
Kos:
0h 45’ – 30 km
Rhodes:
1h 15’ – 80 km
Thessaloniki
Corfu
London
Paris
Berlin
Chalkidiki
Moscow
Zurich
Attica
Peloponnese
Istanbul
Kos
Rhodes
Dubai
Crete
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