Forget about that hole in one.
A member at Manila Golf and Country Club just scored big after selling a share for a whopping P200 million. This is a record for the ultra-exclusive venue nestled between Forbes Park and Dasmariñas Village in Makati.
It’s an eye-watering price, considering that Manila Golf shares already commanded the highest values in the country at around P150 million before this latest transaction.
Wack Wack Golf & Country Club, whose shares sell for P80-90 million, comes in at distant second.
The chatter among property market insiders is that the buyer is a local wealthy investor, although his or her identity remains undisclosed.
What’s interesting is how golf club prices have been on an unstoppable rise in the aftermath of the recent pandemic.
“It’s really all about timing. There were people in 2009 who sold Manila Golf shares for P12 million. That was in the middle of the global finical crisis,” a property insider said.
As news of this deal spreads, we anticipate golf club market makers will soon adjust industry prices.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
