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Singapore
AsiaSoutheast Asia

Elite Singapore golf club entry fee skyrockets to US$618,000 for expats thanks to wealthy Chinese

  • An investment in the Sentosa Golf Club has defied gravity in a world upended by the global stock routs and the Ukraine war
  • The pandemic accelerated the rally in membership fees at the 36-hole facility, driven by the prestige sought by wealthy expats, primarily from mainland China

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The rally in membership fees at the Sentosa Golf Club started during the pandemic as lovers of green fairways sought relief from the strictures of Covid lockdowns. Photo: Sentosa Golf Club
Bloomberg
In a year when everything from stocks and bonds to cryptocurrencies have tumbled, an investment in Singapore’s most elite golf club stands out.
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The cost for an expatriate to join the 36-hole Sentosa Golf Club overlooking the Singapore Strait has more than doubled since the end of 2019 to S$840,000 ($618,000), according to brokerage Singolf Services Pte. For citizens and permanent residents, the membership price has surged to as much as S$500,000.

It’s another way the city state is defying gravity in a world upended by the global stocks implosion, strict Covid restrictions in China and Russia’s war in Ukraine. Prime real estate has never been more expensive, luxury car sales are higher than ever and country clubs are thriving.

The manicured and almost crime-free financial hub has long attracted wealth from countries with more complicated prospects, led by rich Chinese settling in the city. Few venues exemplify the trend better than the championship course some rank top in Asia-Pacific.

Set on a lush island south of Singapore’s rump, the facility is nestled between the Resorts World casino, Universal Studios, a marina that attracts ocean-going yachts from as far as the Caribbean, and native jungle pocked by battlements ruined during World War II.

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