Donga Membership Golf Course Prices for 2nd Week of March
Stable Prices Except for Some High-End Courses
As the spring season approaches, the rising trend in golf membership prices has paused for a breather. Buyers and sellers are engaged in a game of cat and mouse, and except for some high-priced items, the rate of increase is easing.
According to the Donga Membership Trading Center on the 11th, the average membership price of 100 major golf courses traded nationwide this week was 230.67 million KRW, up 0.37% from last week. By price range, the ultra-high price range rose 0.66%, the high price range 0.03%, the mid-price range 0.28%, and the low price range 0.19%. The Donga Membership Center noted, "Except for a few golf courses with scarce listings, membership prices are showing a flat trend," adding, "Although buying inquiries continue to flow in, as prices rose to the previous peak just before the interest rate hike caused a decline, buying demand is no longer following and is holding steady."
By region, the average price in the central region recorded 261.03 million KRW, up 0.36% from the previous week. In the central region, most prices remained flat except for the high-priced memberships, which rarely come on the market. In the Gangbuk area, Songchu recorded 570 million KRW, up 10 million KRW, with no listings available. Asiana and Shinwon are trading at 720 million KRW and 790 million KRW, respectively, with buying orders accumulating and prices rising by 20 million KRW and 10 million KRW.
The ultra-high price Vision Hills formed a price of 1.5 billion KRW, rising 20 million KRW as only high-priced listings were confirmed, and East Valley also recorded 1.79 billion KRW, up 20 million KRW, as corporate inquiries continued. Kim Namjung, team leader at Donga Membership Center, said, "Prices in the central region are not expected to fluctuate significantly for the time being," and "a flat trend is expected to continue."
The average price in the southern region rose 0.37% to 152.09 million KRW from last week. Gaya is trading at 170 million KRW, up 5 million KRW from the previous week, with steady buying inquiries and strong buying demand. Bugok also recorded 65 million KRW, up 2 million KRW, as buying orders increased amid scarce listings. Dongbusan formed a price of 260 million KRW, up 5 million KRW again this week, as buying orders accumulated in a market where listings are hard to find. Changwon recorded 145 million KRW, up 5 million KRW from the previous week, as the gap between selling and buying offers widened and transactions were made at the selling offer price. Dongnae Benest also rose 5 million KRW to 162 million KRW as buying inquiries from individuals and corporations increased.
On the other hand, Seonsan recorded 98 million KRW, down 5 million KRW, as some listings appeared and transactions were made at the low buying price. Lee Yunhee, team leader at Donga Membership Center, said, "The southern region market is seeing increased trading inquiries for the spring season," and "a strong flat market is expected to continue."
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