There are many reasons why a particular area becomes a prime property hotspot. It may have excellent transport links, it may offer a wide range of good quality housing, it may boast highly regarded schools and other local amenities, or be close to a well-known landmark or beauty spot. But there's another factor which has long added a premium to residential property values: proximity to a top golf course. And as the 145th Open tees off in Ayrshire this week, the spotlight falls once again not just on Royal Troon Golf Course, but on properties close to Scotland's other 550 courses, too.

Dating back to 1754, The Old Course in St Andrews, Fife, is Scotland's oldest and most iconic golf course. It's also the only top-class course in the country where private homes are situated on the edge of the green. The demand for these properties is high, particularly among high net worth golf-lovers from Europe, North America and Asia and, not surprisingly, they carry a hefty premium. Currently available is a selection of apartments at Hamilton Grand, overlooking the 18th green. Boasting wonderful architecture and incredible internal craftsmanship, the apartments range in price from £1.3m to over £7m.

The premium in other east coast golfing locations is significantly above nearby towns and the Scottish average. Americans, in particular, appreciate the history attached to courses like Muirfield in Gullane and homes in this area, which has three world-class championship links courses, generate premiums of 67 per cent above the average for East Lothian and 111 per cent above the average Scottish house price.

Offering further ameneties and top schools, North Berwick, where golf has been played over the West Links since the 17th century, commands even higher premiums, with prices 92 per cent higher than the East Lothian average and 143 per cent higher than those across Scotland.

High premiums are also achieved for houses in other prime locations such as Gleneagles in Perthshire, hosts of the Ryder Cup in 2014.