MARKET NEWS, JUNE 2010

Since the low point for stock markets in March 2009, prices of Singapore golf club memberships have increased significantly. Referring to local individual memberships, Sentosa GC has increased by 75% to $280,000; Singapore Island CC and Tanah Merah CC have increased by 47% and 50% to 220,000 and 165,000 respectively; and for the other clubs by 10 to 30 %.

The price of memberships at Sentosa GC has outperformed those of all other golf clubs, due to continuing interest from the owners of properties at Sentosa Cove. As construction is continuing at Sentosa Cove, this trend can be expected to continue for the foreseeable future.

The price for membership of SICC has held up comparatively well despite the extensive upgrading of the New course and construction of the completely new clubhouse at the Island location, which will result in some inconvenience to members for the next one to two years. It appears buyers are looking forward to the improved facilities that will result.

It may be noted that membership prices are quoted at the total cost to the buyer. Transfer fees, which are set by the club and paid by the seller from the total cost, are subject to GST, presently at 7%, but the balance of a membership price does not attract GST.

For details of prices and transfer fees, please see the Membership Prices pages on this website.

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