Prices of golf memberships at 5-year low

Singapore

A COMBINATION of land lease renewal uncertainties and cooling enthusiasm for the game among the younger set has dampened demand for club memberships, thus depressing membership prices to their lowest levels in five years. The BT Golf Index, which tracks the transferable open market membership prices of golf clubs in Singapore is now at its lowest level since mid-2009.

While the open market membership prices of some clubs rose, the vast majority of the around 30,000 golfers who hold transferable memberships in Singapore's 11 private golf clubs saw the value of this asset class diminish by some 10 per cent over the past 12 months.