COVID-19

As with all aspects of life, the COVID-19 pandemic has disrupted the golf scene in Singapore, as all clubs were closed during the circuit breaker period, and the volume of membership transactions fell off, unsurprisingly.

When restrictions moved to phase 2, and golf clubs were allowed to reopen, we saw large numbers of golfers rushing back to play. Due to the restrictions on the number of players in a flight, to maintain social distancing, courses are being fully booked on a regular basis.

Despite that, the volume of membership transactions has increased and prices are appreciating. It is likely that the fact that golf is a sport that can continue with relatively little disruption contributes to the increased demand.

Land Leases

There have been no changes to the land leases since the last set of renewals up to 2040.