We all know that real-estate on the high end and well known golf courses can be a bit spendy. I thought that with the British open coming up, and heading back to St. Andrews in 2015, this would be a perfect time to share with you an article I found on the wallstreetjournal.com. Buying property on the links at St. Andrews in Scotland, apparently not only takes mega bucks but mega patience and persistence as well. These properties don't just pop up, they are few and far between.
"It is perhaps the most valuable 300 meters in the whole of Scotland," says Jamie Macnab, a director with Savills SVS.LN +0.74% in Edinburgh, who specializes in selling high-end homes in St. Andrews. "The price per square foot would be higher than anywhere else in the country."
Golf has been played at the Old Course in St. Andrews for some six centuries, says golf historian David Joy. In 1873, the Old Course hosted its first Open Championship, one of golf's most prestigious competitions.
Ian Lloyd-Jones owns a house just off the area near the Old Course. In 2010, he unsuccessfully bid about $5.4 million for a place on the Links, overlooking the 18th green. He ended up in a five-bedroom home a little farther away, built in 1895, that once served as a bed-and-breakfast. He bought the home in March 2011 for close to $1.3 million.