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At the beginning of July 2025, the Singapore government announced its plans for golf course land leases expiring in 2030 and 2035. While some of these announcements may have been disappointing to some, they were not surprising in the context of past lease decisions, and they do provide clarity about the future.

Renewals to 2040Permalink

  • Sentosa Serapong Course
  • National Service Resort & Country Club (Krangi)

Leases ending in 2030 with conversion to public coursesPermalink

  • SICC Bukit Course
  • Keppel Club Sime Course

Leases ending in 2030/2035 with conversion to residental zoningPermalink

  • Tanah Mera Country Club Garden Course (2035)
  • Orchid Country Club (2030)
  • Warren Golf & Country Club (2030)

Existing leases ending in 2040 with future renewal decision:Permalink

  • Sentoasa Tanjong Course
  • SICC Island and New Courses
  • Laguna National Golf Resort Club
  • Seletar Country Club
  • Changi Golf Club
  • National Service Resort & Country Club (Changi)

Taken together these decisions mean that all clubs either have a firm date when their land leases will end, or have leases that will expire at the end of 2040 with the possibility of a renewal at that time. This puts all clubs on an equal footing, which will make it easier to compare when making purchasing decisions.

In terms of the membership market, these decisions are likely to lead to falling transaction prices for clubs with confirmed lease terminations, especially as we get closer to 2030/2035. For clubs where the possibility exists of renewals after 2040, there will be pricing pressure in both directions, as uncertainty over future renewal is balanced against the reduced number of alternative golf clubs in Singapore.

Separately, the decision to maintain the old Bukit and Sime courses as public courses will provide access to two high quality full size golf courses for the general public for the first time, which will significantly increase the accessibility of the sport for more Singaporeans. This could also reduce demand for memberships, but we will not see a significant new effect until we reach 2030.

Of course, a golf club membership is not simply an investment; it is a place to enjoy the game of golf, while also offering a venue for dining, many other sports, and networking opportunities!

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