Real estate values are soaring and so is the global surf market. Projected to reach $4.8 Billion by 2027 (from investor analysis group, Report Link), the global surf market is rapidly growing and shows no signs of slowing. What is driving this growth? Well, the report states, “The primary factor driving growth is the push by surfing equipment makers, marketers and associations to make surfing much more approachable than it was in past years, as seen through the roll out of public surfing facilities and artificial reefs.” In sum, wave pools and surf parks, with well over 100 in planning globally, are a major player in driving this growth. So, why do surf lagoons and real estate go hand in hand? Whatever the venue type, from urban mixed-use, to master planned communities, to entertainment districts, the potential to boost a development’s ROI is massive when a wave pool is included.
Enhance Real Estate Values with Waterfront Development Potential
It’s no secret that waterfront views add to a property’s value. In fact, Zillow estimates that waterfront properties are worth 116% more than all others. If you look at the world’s most well-known surf regions like Southern California or Australia’s Gold Coast the difference in property values becomes even more stark. Pair the growth and aspirations for surfing with our desire to be by water, and the potential for surf lagoons and real estate is more than apparent.
Offering the most natural and organic design in wave pools, the Endless Surf lagoon is as close to ocean authenticity as surf parks get. Plus, with 360 degrees of development potential surrounding the lagoon, there’s always a view of the breaking waves, whether it’s from a mixed-use high rise or from the beachside bar and surf shop. The potential for elevating real estate values and amplifying the overall plans of your development is incredible with beautiful breaking waves as an anchor.
Attract and Keep Customers on Premise
Surfing isn’t just a hobby; it is a full lifestyle. The inclusion of a lifestyle-based activity bodes extremely well for the ROI of an entire development. Not only will surfing attract new customers and audiences, but it will also keep those people on premise with additional amenities. Retail, F&B, office spaces, lodging, apartments/homes, gyms, entertainment, etc., are some of the add-ons that we are seeing when Endless Surf lagoons and real estate are paired – showing the true versatility of what is possible when it comes to a surf park development.
A Saving Grace for Brick-and-Mortar
Online commerce, growing immensely the past few years, has really impacted brick-and-mortar retail. Plus, with the rise of the “experience over things” mindset, the consumer experience is ever-evolving. People will still need/want things, so why not entice them with both? We anticipate that the future of brick-and-mortar retail is going to become more experience-based. And, we’re confident that the Endless Surf experience is at the top of the list because of the fully customizable waves that our technology can offer to any surf ability, beginner or professional.
Surf Lagoons and Real Estate: Elevate and Anchor Developments
All in all, the COVID-19 pandemic has really impacted the way in which people shop, work, and live their day-to-day lives. With that, it has accelerated the transformation of many mixed-use real estate models to include all types of amenities, rather than serve a single purpose. Are you working on a real estate project yourself and struggling to find the right anchor for your venue? As you can see, surf lagoons and real estate go hand in hand, as there’s no doubting that the surf experience sells. We’d love to chat and see how Endless Surf could benefit your plans.
Curious about how surfing can transform your project? Contact us to chat.