Golf club membership prices spike after Jurong Country Club announcement
Jurong Country Club. Photo: Low Wei Xin
SINGAPORE — Membership prices for golf clubs islandwide have spiked overnight following the news that Jurong Country Club will make way for the new high-speed rail terminus. For two clubs, memberships are being traded at as much as S$2,000 more.
This is bad news for Jurong Country Club members, who will be looking to join a new club. A total of 2,800 members from Jurong Country Club will have 18 months to find a new club. It was announced on Monday (May 11) that the club will have to vacate its premises by November 2016, despite its lease running until 2035.
Some golfers said it is too early to decide whether to purchase a new membership.
“Honestly, it is too soon to think about any plans. Golf is about having friends around and we surely have to understand what the group of us want to do,” said Mr K K Leow.
Ms Shannon Ng, however, has decided to stay for now: “For me, personally, I probably will just keep it and play until November 2016.”
Meanwhile, one golf club membership company said memberships for other clubs are being traded at much higher prices — especially for those in the west.
“Like Raffles Country Club, nobody wanted it when we were selling it at only S$32,000 last week,” said Ms Fion Phua, sales director of Tee-Up Marketing Enterprises. “It rose to S$34,000 this morning. To find a buyer that will pay S$2,000 more in one day is impossible. Buyers can take up to three months to negotiate for S$2,000 lesser, but it is impossible to give you S$2,000 more after eight hours.”
Ms Phua is confident that prices for less popular clubs will also increase.
The Government announced last year that the lease for Keppel Club and Marina Bay Golf Course would not be renewed once they expire. And with thousands looking for membership elsewhere, it is a simple case of demand and supply. CHANNEL NEWSASIA
