• As noted in our article earlier this year, membership prices rose to record levels, especially at the most on-demand clubs
  • However, we are now seeing early signs of prices dropping, and demand weaking. This is likely due to both increased economic uncertainty, and higher interest rates, increasing the cost of borrowing and the attractiveness of other potential investments.
  • Sentosa, SICC, TMCC and Seletar continue to be the most sought after clubs, in that order.
  • We continue to remind potential buyers that they should take note of when each club’s current land lease expires. One cannot assume that leases will be renewed as a matter of routine. History has shown clubs having to close after a lease was not renewed, and others where leases were only renewed for some of the land, causing courses to have to be modified or closed down. As such, buyers should always be prepared for either of these outcomes when choosing a club.