Golf Secondary Market Showing Stress
Call it a sign of the times or perhaps a hangover from the global financial meltdown but the broader islan secondary golf membership market is seeing a decline in pricing.
Tracking classified listings for Phuket Country Club over the past three months listings moved downward from THB650,000 excluding transfer fees down to THB550,000 including transfer fees. Prospective sellers seem to be aggressively pricing and repricing them in order to attract a sale.
Loch Palm is trading at perhaps the widest band in the market from THB400,000 to 550,000 including transfer.
Blue Canyon ranges from THB850,000 excluding transfer to THB950,000 including dues and transfers.
Laguna Phuket carries the largest number of membership wanted advertisements with pricing as available handing in the region of THB400,000.
It's important to note that this is a selective review of visible listings and there are always exceptions.
In final analysis though golf memberships as in property seems to have the same fishing expedition mentality of the current property market and a flood of resale's is where transactions are most active.