Both commercial and residential real estate pros are reaping the benefits of the racket sports boom.
Every month, 130 new courts are being built in the U.S., just for pickleball!
Padel is the up-and-coming U.S. sport. Currently popular in Latin America and Europe, it promises to be to pickleball what soccer is to American football. Deloitte forecasts that about 85K padel courts will be built worldwide by 2026, double the current number.
Tennis is one of the most established racket sports and many country clubs, recreation centers, parks, and multi-unit complexes are transforming or adding courts to accommodate new sports.
Badminton and squash (both Olympic sports) are also still popular, along with table tennis, pop tennis, and platform tennis.
Developers, architects, designers, and strategists are all looking at how to build courts faster and more cost-effectively to capitalize on this huge revenue-generating opportunity.
5 Ways the Racket Sports Trend is Having an Impact on Commercial Development
Among the top trends we’ve been seeing in the commercial real estate space:
Residential Developers, Investors, and Homebuyers are Seeking Courts Too
Zillow listings of homes mentioning pickleball are up a whopping 64 percent year over year!
Adding pickleball courts within four to six blocks can increase home prices by as much as 5 percent, according to one study. Outdoor court installations currently cost from $40K to $60K, but we expect that cost to come down as more construction companies enter the field and next-generation materials drive efficiencies.
Whether you’re a landowner, architect or property developer interested in widening your business into the sports industry or ensuring your properties appeal to the consumer and business of today and tomorrow, you’ll be able to connect with the leaders in the field at RacquetX from March 24th to 26th in Miami. You’ll hear from the leaders in the field about best practices for improving your commercial and residential values and view the products and technologies that are changing the game.
Among some of the inspirational and educational sessions you’ll find are:
Plus, experienced court designers and builders will construct nine courts within the Miami Convention Center, so you can talk to industry leaders and learn about their processes and materials first-hand.