Are Club Memberships in Singapore worth it?

I'm talking about social clubs like the Singapore Cricket Club, Singapore Recreation Club, or the Seletar Country Club.

I'm a young working professional and I recently met an agent who is trying to sell me some club memberships.

Personally, I wonder if having a club membership is worth it in Singapore. Most club memberships cost anywhere from approximately $5000 to $20,000. Additionally, monthly fees range from around $70 to $150/month (rough estimates).

I'm not a very sporty individual so I can't appreciate many of the sporting facilities these clubs offer. The only utility I can see is the convenience of maybe discounted parking, exclusive restaurants or gyms in club premises, and a place to socialize (perhaps seldomly) with friends or new people. But does this justify the rather hefty price tag that club memberships carry? Why not just use all that money to take a small number of good vacations out of Singapore for example?

I wonder what the Seedly Community thinks.

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Kenneth Lou

15 Jul 2021

Co-founder at Seedly

I know that SICC (Singapore Island Country Club) is an investment as there is also a limited supply of membership they give out each year. So what that means is that there will be a ton of golf playing uncles who have a ton of capital and they need a place to hangout after their golf games.

I personally know a few people who have made a nice sizable return from these exclusive clubs, not all of them exactly. Each SICC membership now I believe is around $250k to $300k. But the value can be re-sold past the 2 year mark if I'm not wrong..

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Chris

15 Jul 2021

Owner and Writer at Tortoisemoney.com

Well, probably not tbh. In the past, country club memberships used to be really popular. It went into a little bubble and well, the bubble burst. Many club memberships lost value and many people lost money on their memberships. If you're just looking for gym facilities, just get a gym membership. $5000 can get you more than 4 years of gym membership hahaha. As for restaurant deals, many credit cards give you those and more. And as for parking, I don't drive so I can't gauge how much you would likely save on parking but I doubt a club membership for parking benefits would be worth it.

Anyways, this is just my 2c. I don't know the details of your life so ultimately, if you can afford it and you think it's worth it, then I see no issue in getting it. But personally, I don't ever see myself doing it.

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