MARKET NEWS, OCTOBER 2011
In 2010, membership prices for Singapore’s golf clubs recovered substantially from the 2008/09 credit crunch. However, during the past year, in the face of jittery financial markets prices have declined for most clubs.
The price for Local memberships, in 2011 at Sentosa GC declined $27,000 to $233,000. Prices for Singapore Island Country Club (SICC), and Tanah Merah Country Club, declined $15,000 each to $205,000 and $155,000 respectively.
At SICC the new golfing clubhouse at the Island location was completed and the sequence of holes at the New course was rearranged so the 1st, 9th, 10th, and 18th holes are adjacent to the new clubhouse.
Referring to Local memberships, the table below sets out the relevant figures:
Club |
Price % Change |
Price at Oct '11 (P) |
Transfer Fee (TF) |
% of TF over P |
Sentosa |
-10% |
$233,000 |
$40,000 |
(17%) |
SICC |
-7% |
$205,000 |
$30,000 |
(15%) |
TMCC |
-6% |
$155,000 |
$30,000 |
(19%) |
| |
|
|
|
|
Laguna |
-13% |
$65,000 |
$30,000 |
(46%) |
Jurong |
+14% |
$50,000 |
$20,000 |
(40%) |
Raffles |
-4% |
$48,000 |
$20,000 |
(42%) |
Orchid |
+5% |
$45,000 |
$20,000 |
(44%) |
Seletar |
-18% |
$37,000 |
$20,000 |
(54%) |
Warren |
-3% |
$36,000 |
$10,000 |
(28%) |
Keppel |
-15% |
$22,000 |
$12,000 |
(55%) |
It should 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.
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