LIKE a golf ball whacked harshly with a six iron, club memberships have hit dizzying heights recently, in tandem with rising prices for property and other assets.

Soaring fees are par for the course at premier golf clubs such as Sentosa and the Singapore Island Country Club (SICC).

At Sentosa Golf Club, transfer membership fees have hit a record of $245,000, up from $146,000 a year ago. SICC's fees are now $225,000, up from $161,000 a year ago.

The American Club leads the social club pack with transfer membership fees of $100,000, up from $58,000 last year.

Still, some clubs buck the trend and not without reason. Membership fees at social clubs Arena, Fairway and Superbowl have stayed stagnant because their land leases are expiring soon.

Though prices are at record levels, experts still see potential upside to jumping on the club bandwagon.

Membership brokers expect fees at Sentosa Golf Club to hit $350,000 once the upcoming integrated resort (IR) on the island makes its presence felt.

The addition of a new $60 million clubhouse at SICC's Island location on Upper Thomson Road is expected to lift its appeal. This could send fees up towards $300,000, said Ms Fion Phua, the sales director for club membership broker Tee Up Marketing Enterprises.

Ms Phua tipped Keppel and Warren as being good golf club buys because their transfer fees are lower.

The owner of club brokerage Singolf, Ms Lee Lee Langdale, believes 'it is never too late to buy'.

'All the clubs are good buys in the Singapore context, depending on the buyer's needs for golfing and other country club facilities for his family,' she said.

Price variations reflect the quality of the courses, facilities and location.

But Ms Langdale and Mr Brian Goh, a senior vice-president at ipac financial planning Singapore, don't see club memberships as a financial investment.

'Chances that membership rates will increase might look good now, but it is a gamble. Further, with the monthly fees, you're looking at negative cash flow, which may last for a while if prices remain flat,' said Mr Goh.

Instead of buying a membership in a club now, you could invest the money in a well-diversified portfolio that would eventually allow you to buy a membership at an even more exclusive club as well as send your child to university overseas.

Meanwhile, golf at Bintan or across the Causeway.

Chief executive Chris Firth of wealth management firm dollarDEX believes that, as long as the economy is booming and the stock market doesn't crash, club prices will keep rising.

However, if you're buying a membership for speculation, there are cheaper, better ways to make money, like buying stocks or funds.

'It's a lot easier to buy, hold and sell a stock,' said Mr Firth, who is a member of The British Club and Raffles Town Club.

'And it is not as expensive to transact as club memberships, which come with transfer fees. If no one wants to buy the membership, you could be stuck with it for years.'

For those who are still keen on getting a club membership, here are some tips:

Affordability

Pick a club that is within your means. Factor in the monthly financial commitment needed to maintain the membership. Include subscription fees and food and beverage levies.

Transfer fee

Find out what the club's transfer fee is as it will affect the membership's resale value. For instance, if you buy a membership at $23,000 and the transfer fee is $3,000 and the goods and services tax (GST) comes to $210, you would have to sell it for $26,210 just to break even.

Don't forget the agent's fees, which range from $100 to 1 per cent of the membership fee.

High transfer fees sometimes deter buyers because they lower the returns, which would affect the investment value of the membership. In some cases, transfer fees can go as high as $32,100 inclusive of GST.

Location

A club near your workplace or home would allow you to get more mileage out of your membership.

You could drop in for a meal, a swim or a workout at the gym if the club is close by. If it is near your home, your spouse and children could also use the club facilities more often.

Facilities

Decide what you or your family like doing most and pick a club that best suits everyone. For instance, if you are a serious golfer, pick a club that offers golfing instead of just social amenities.

Alternatively, if you plan to visit a club with your family, choose one that offers facilities for everyone: for instance, a childcare centre, an Olympic-size pool, or jackpot and mahjong rooms for your parents.

Number of members

A club with too many members might mean insufficient facilities or longer queuing times for amenities.

Management style

Check if the place is a members' club or a proprietary one. The former allows you voting rights and a say in determining club policies. If the club is proprietary, find out if the management has a good track record in order to gauge the standard of service you can expect.

Leaders of the pack: Most expensive memberships

Sentosa Golf Club

Transferable membership price: $245,000

Number of members: 1,500 Located on Sentosa island, a tourist and leisure destination, the club is accessible from Singapore by car, bus, ferry or cable car.

Demand for Sentosa Golf Club membership has reached dizzying heights with the development of an integrated resort on the island.

Current membership fee is up 68 per cent from $146,000 in August last year. Fees were only $87,500 in 2002.

There are two 18-hole golf courses, namely the Serapong course and the Tanjong Course. The former has been ranked by golfers as one of the most difficult courses in Asia.

In 1989, Sentosa Golf Club played host to the Dunhill Cup World Qualifier.

Singapore Island Country Club (SICC)

Transferable membership price: $225,000

Number of members: 7,400 With four 18-hole golf courses and one nine-hole one, as well as two club houses - one of which is undergoing renovation - SICC is the largest golf and country club in Singapore.

Thanks to a buoyant economy, the club's current membership fee has hit a new peak, up 40 per cent from $161,000 a year ago. It sank to a low of $120,000 in 1998.

The club was formed from the merger of the Royal Island Club and the Royal Singapore Golf Club.

The Royal Singapore Golf Club was originally founded in 1891 under the name 'The Singapore Golf Club' while the Royal Island Club was originally founded in 1927 under the name 'The Island Club'.

Tanah Merah Country Club (TMCC)

Transferable membership price: $195,000

Number of members: 2,953 TMCC has two 18-hole championship golf courses at two separate locations ? a three-minute drive apart.

Other facilities at the club include an Olympic-size swimming pool, squash courts, three restaurants, meeting rooms, a mahjong room and a karaoke room.

Its membership fee has grown to $195,000 from $116,000 in August last year.

The club, which began operations in 1982, has hosted many international golf competitions, such as the Lexus Cup in 2005 and last year at its Garden Course, which was upgraded recently.

The American Club

Transferable membership price:$100,000

Number of members: 3,500 The cost of membership has almost doubled to a record of $100,000 from $58,000 a year ago. It cost only $32,500 to be a member back in 1991.

Situated on freehold land, the club boasts several dining venues that are children-friendly.

It also offers a Young Activity Centre, a play area and dozens of classes for children, from drama to swimming.

Singapore Swimming Club

Transferable membership price: $23,000

Number of members: 7,000 The cost of membership grew 27.8 per cent from $18,000 in August last year.

Founded in 1894, the club has grown from an attap hut by a sand bar in the 19th century to its present complex offering a range of recreational amenities including two Olympic-size swimming pools, a 10-lane bowling alley and 10 food and beverage outlets.

Situated on 3ha of freehold land nestled amidst a residential district, the clubhouse is 6km from the city centre and 15 minutes from the Changi International Airport.

Singapore Recreation Club (SRC)

Transferable membership price: $23,000

Number of members: 5,500 Situated in a central location at the Padang, SRC?s $65 million clubhouse straddles the business district and the Esplanade. Its development was in line with the Government?s master plan to inject more excitement and dynamism at the Padang.

Facilities at this club include a 10-lane bowling alley, an indoor heated swimming pool and KTV and billiard rooms.

One degree 15 Marina Club

Transferable membership price: $38,888

Number of members: 4,000 (target)

Constructed to the tune of $80 million, One degree 15 Marina Club Singapore provides a yachting lifestyle one degree, 15 minutes north of the equator.

Nestled in Sentosa Cove, it is surrounded by lush greenery and placid blue waters alongside multimillion-dollar residences and six-star hotels.

Raffles Marina

Transferable membership price: $13,000

Number of members: 2,300

The club boasts 185 walk-floating berths for boats up to 19.8m. It has a multi-deck dry stack for 300 boats up to 10.7m as well as a fuelling station for diesel petrol-powered boats.

Other facilities include a gymnasium, library, tennis and squash courts.

Raffles Marina is constantly visited by international cruising yachts and mega yachts, coming from across the seven seas.

Republic of Singapore Yacht Club

Transferable membership price: $9,000

Number of members: 2,000

Founded in 1826, it is the oldest club in Singapore, and the only yacht club owned by its members. It was awarded a National Heritage Board plaque in June 2000 and won the SIA Architectural Design Award 2001.

Although it is primarily a boating club, it also caters for its members' shore-based interests with its swimming pool, restaurants and the usual club facilities.

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