Yahoo Finance 
Are country club memberships an outdated concept for millennials?
Some of us would have fond memories growing up, of our parents taking us to the country club on the weekends for swimming lessons.
They would sit at the cafe, socialising with their friends, rubbing shoulders with industry peers while the kids splashed around in the pool.
But these fond memories are probably not something many members of the newer generations will get to experience.
Source: Thinkstock/Getty Images
So much for the Five Cs of Singapore
There was a time when a country club, or rather a membership to one, was counted as one of the famous 5 Cs that every Singaporean should have, or at least aim for, as part of their material pursuit in life; the rest being Car, Credit card, Condominium and Cash.
However, times have changed, and it seems that country clubs are not as keenly sought after as before.
Sometime in June this year, The Straits Times reported that country club memberships were losing its grip over under-35s, and it might become an obsolete aspiration.
A poll conducted by the paper among Singaporeans of 19-60 fortified that point, with respondents saying that club memberships were under-utilized, unsexy or just an heirloom.
Things don’t look good for golf country clubs either, what with the announcements by the government in 2014 to make use of the land for redevelopment.
Source: Keppel Club
Keppel Club and Marina Bay Golf Club (MBGC) will not be granted with renewed licenses, while the Tanah Merah Country Club (TMCC), National Service Resort and Country Club (NSRCC) and the Singapore Island Country Club (SICC) will need to give up part of their land despite having an extended lease.
Singolf’s broker, Lee Lee Langdale shared with The Straits Times that local buyers were more on the pickier end.
They would compare the prices of club memberships as well as its location, facilities and reputation before filing for a membership.
As far as private clubs go, there are 25 private member clubs on the island. Industry veterans have shared that membership fees have dipped by as much as 30%.
Emergence of affordable club memberships
Despite the challenging times, Madison Rooms opened its doors in May. CNBC’s coverage revealed that the club’s membership of US$6,400 comes with access to its bar and dining facilities, an exclusive partnership with Etihad Airways and concierge services via Quintessentially Asia.
The club includes cultural moments within its premises which invites its members to connect through their shared experiences and interests.
Source: Thinkstock/Getty Images
Madison Rooms has also obtained special partnerships with private clubs across the world, so that its members’ needs are still taken care of as they travel.
Madison Rooms is just one of the more affordable clubs in town, especially when compared to Tower Club’s joining fee of US$7,300.
Millennials not convinced that they need nor want club memberships
The elitist look is not one that millennials are after. Potential members are mostly already tied to more comprehensive condominium facilities.
The focus in a membership lies more on one that is purpose driven, which can be found in the likes of fitness clubs and yoga centres.
Source: Thinkstock/Getty Images
The disposable income of S$175,000 for membership with the Singapore Island Country Club (SICC), for instance, could be better channelled to a myriad of other luxuries like travel, buying a car (or two), a secondary home, or investing in sophisticated instruments.
Young professionals also prioritise the need to build their careers, and this could mean self-development through further studies or keeping the money in a rainy-day fund to sustain themselves in turbulent times.
Hybrid & overseas membership options
New concepts have come into play to secure the under-35 market. The first kind is a marriage of condos and clubs.
Take Gem Residences as an example. The leasehold property of Toa Payoh provides its residents with round-the-clock concierge services, as well as privileges to Iskandar Malaysia’s Horizon Hills Golf and Country Clubs.
Source: Horizon Hills
Other clubs in Johor come with club memberships of S$3,000 on average, with the likes of Tanjong Puteri Golf Resort and Starhill Golf and Country Club on its list.
Singaporeans are starting to warm up to the memberships here, despite the need to travel across the Causeway to reap the privileges.
Makeovers are imminent
Country clubs are making changes to suit the cultural shift that’s taking place. The Singapore Swimming Club launched a promotion for its Ordinary Member (Family) segment, which will run until the end of January 2017.
New members would need only pay S$5,000 upon at first, and settle the balance of S$9,000 in 24 monthly instalments.
Source: Laguna National Country Club
Laguna National Golf and Country Club is also undertaking a conversion that will feature 200 hotel suites and rooms, as well as family-orientated services such as calligraphy painting, martial arts and the art of chocolate-making.
Laguna Hospitality’s CEO, Mr Patrick Bowers, had this to share about wooing the younger clientele:
“With Singapore seeing a trend in start-ups, young entrepreneurs and existing sales professionals who need to entertain clients during the week, we want to attract more from these groups."
Would you as a millennial bother with owning a country club membership?
(By Annette Rowena)
Related Articles
- Top 3 insurance plans that millennials buy in Singapore
- Best budget airlines for business travellers
- Flying can be cheaper than taking Uber in Singapore
