Numerous studies have unpacked the effect that major sporting events have on the economic wellbeing of host countries or communities. While factors like the event type, location and market conditions all work together to influence the economic ripple effect that such events could ultimately have, several sources point to positive outcomes – including on the value of residential properties.
Looking to the Olympic Games as an example, increases in property value have been recorded in a number of past host countries. In fact, as cited by an Australian property investment consultancy, Sydney’s property value was said to have escalated by 60% from the point of the Olympics announcement in 1993 to the games in 2000. And talks around what the 2032 Olympic Games could do for Brisbane – already a hot property market – are underway.
The boost associated with the hosting of major events is often linked to expedited infrastructure projects, job creation, tourism exposure, enhanced amenities and improved service delivery. These factors may be strong draw cards for wealthy property investors, many of whom, like 86% of surveyed affluents, may be avid sports fans with a desire to be “front and centre”, near to the hub of sporting activity.
With this in mind and as we look forward to a number of major sporting events that are on the calendar in upcoming months, we have compiled our selection of 10 significant sporting events around the world that take place regularly, or will soon be held, in prime property locations.
1. Cartier Queen’s Club
The Cartier Queen’s Cup is a prestigious polo tournament that attracts international teams, with the 2024 season having just run from 21 May to 16 June. The tournament is held annually at Windsor Great Park’s famous Guards Polo Club, founded in 1955 by Prince Philip, Duke of Edinburgh.
Although mostly set in Berkshire, known as the “Royal County”, Windsor Great Park also extends into parts of Surrey which is home to one of the county’s most esteemed “millionaire’s playgrounds”, Wentworth. This spot has been recognised as prime real estate for the past 100 years and is also esteemed for its golf, with 10 of the 25 top courses in England located here.
2. Monaco Grand Prix
The 2024 Monaco Grand Prix, hosted from 24 to 26 May this year, is held annually on the Circuit de Monaco, drawing approximately 37,000 spectators to what is considered the biggest motor race in the world.
Monaco, located on the French Riviera, is a prestigious sovereign country that has been classed as one of the most pleasant countries to live in, as well as one of the safest. It has the world’s highest millionaire density with 15,600 high-net-worth individuals (HNWIs).
3. Tour de France
The Tour de France, a three-week gruelling cycling race, is held primarily in France and covers spectacular destinations along the way. For the first time in 2024, the race will commence in Italy on 29 June 2024 and will finish, also for the first time, in Nice.
The French Riviera, which includes the city of Nice, has long been celebrated as a desirable destination among the wealthy. The region has been hailed for its lifestyle, financial benefits and potential property value growth, presenting appealing investment opportunities.
4. Wimbledon Championships
Coming up from 1 to 14 July 2024, Wimbledon is frequented by royalty and celebrities, along with an average of around 500,000 attendees and millions of viewers around the world. The tennis championship is held annually and has taken place at London’s All England Lawn Tennis Club since 1877.
London ranks fifth in the World’s Wealthiest Cities Report 2024, with 227,000 HNWIs residing in the city. Interestingly, Wimbledon was recently noted as the most desirable spot in the city’s super-prime property market that includes properties over £10 million.
5. Summer and Winter Olympic Games
Held every four years, the world-famous Summer Olympics and Paralympics are now just around the corner, due to take place from 26 July to 11 August 2024 and 28 August to 8 September, respectively. Together, the Summer and Winter Games (coming up in Milan and Cortina in 2026) draw athletes together from over 200 countries, participating in over 400 events.
Paris and Milan are landmark cities when it comes to attracting the affluent. Paris is home to 165,000 HNWIs and is considered one of the wealthiest cities in mainland Europe. Milan, aside from being a fashion beacon, is a finance and business centre, and its real estate market has seen growth due to demand among HNWIs wanting to invest in luxury properties.
6. AIG Women’s Open
The AIG Women’s Open, founded in 1976, will take place from 21 to 25 August 2024 and will be held at the historic Old Course in St Andrews for the third time. This course is where golf was born, having staged the game for the first time 600 years ago.
The coastal Scottish town of St Andrews is renowned for its prestigious university, notable for alumni such as the Prince and Princess of Wales. Prime property in St Andrews and at the Old Course attracts wealthy buyers, especially those who love golf, from around the world. Looking more broadly at Scotland, it has been predicted that the total growth in prime property prices over the next few years, to 2027, will be significant (12.7%).
7. Rolex Middle Sea Race
The annual Rolex Middle Sea Race is known as one of the most spectacular racecourses in the world, beginning in Valletta, Malta and continuing counter clockwise around Sicily. The 45th edition of the race is due to start on 19 October 2024.
Malta has received a lot of attention due to its steady real estate market growth and its citizenship-by-investment programme, among other appealing factors. The capital city of Valletta is described as an “open-air museum” and has, in fact, been named a UNESCO World Heritage Site.
8. Australia Tennis Open
Scheduled to take place at Melbourne Park from 12 to 26 January 2025, the Australian Open is a popular annual tournament that will be held for the 113th time next year. Earlier in 2024, the event attracted 1 million fans across the 15-day main draw alone.
Melbourne follows Sydney as Australia’s second wealthiest city, which is home to 96,000 HNWIs who tend to gravitate towards affluent areas such as Toorak, Portsea, East Melbourne and Brighton.
9. Masters Golf Tournament
The Masters Golf Tournament, first held in 1934, is an exclusive event held annually at Augusta National Golf Club in Georgia, attracting top golfers from around the world. The championship will take place again in April 2025.
Although Augusta may not necessarily be home to the ultra-wealthy, the highly prestigious tournament is known to attract billionaires to the region in droves. Not far from Augusta, Atlanta – the State’s capital and home to a number of upscale neighbourhoods – has been referred to as one of the nation’s most economically robust cities with a resilient real estate market, which may well appeal to prime property investors.
10. UEFA Champions League Final
Having been referred to as the most glamourous club competition in world football, the UEFA Champions League draws millions of viewers per game. Each year, the club association football competition unfolds in different locations and in 2025, will culminate with the final on 31 May, in Munich, Germany.
Germany, on the whole, has a robust economy, ranking as the third strongest in the world as at Q1 2024. While Frankfurt is a hub for HNWIs, Munich has been noted as an economic powerhouse and a city with a growing market for real estate.
What should be considered before investing in prime property linked to a sports hub?
When it comes to purchasing any prime property, we advise that you collaborate with a team of professionals to thoroughly evaluate the location, conduct comprehensive market research and understand any legal requirements or admin processes.
Arguably, additional due diligence should be carried out when investing near to a sporting arena, especially if the facilities are being newly developed, so as to understand the impact of infrastructure developments, transportation systems, congestion during events, potential rental yields, and the likes.
How can quick and easy financing be obtained for those who are ready to invest in prime property?
Bridging finance, a short-term loan type, serves as a solution for accessing capital speedily. This is useful for HNWIs, companies, trusts or foundations wanting to invest in prime property as it eliminates the bureaucracy typically associated with traditional lending.
Get access to bridging finance with Tenn
Tenn is uniquely set up to offer offshore bridging loans for high-value property transactions. We are experts in international bridging and have offered high-value loans to numerous clients in the UK and various overseas territories.