About this number
Normalized PSF uses Bala's Table - the Singapore Land Authority differential premium reference for valuing leasehold against freehold. Bala values a fresh 99-year lease at 96% of freehold; the curve drops non-linearly, reaching ~75% at 50 years remaining and ~60% at 30 years.
Below 40 years remaining we stop normalizing because the curve diverges from market reality once CPF withdrawal restrictions and bank LTV cliffs dominate.
A separate 5% adjustment applies to projects whose lease commenced before 2023, reflecting the older strata-area measurement convention (which counted air-con ledges and bay windows).
Source: Singapore Land Authority differential premium reference (Bala's Table).
Transaction prices per square foot
| Project | Dist | Region | Bed | Floor | Area | Price | PSF | 99yr Norm | Date | Type |
|---|---|---|---|---|---|---|---|---|---|---|
| 35 GILSTEAD | 11 | CCR | 3 | 01-05 | 1,098 | $2,865,000 | $2,609 | $2,609 | Feb 2026 | Sub Sale |
| 35 GILSTEAD | 11 | CCR | 3 | 01-05 | 1,001 | $2,650,000 | $2,647 | $2,647 | Oct 2025 | Sub Sale |
| 35 GILSTEAD | 11 | CCR | 3 | 01-05 | 1,033 | $2,650,000 | $2,565 | $2,565 | Jul 2025 | Sub Sale |
| 35 GILSTEAD | 11 | CCR | 3* | 01-05 | 936 | $2,670,000 | $2,851 | $2,851 | Mar 2025 | Sub Sale |
| 35 GILSTEAD | 11 | CCR | 2 | 01-05 | 549 | $1,480,000 | $2,696 | $2,696 | Feb 2025 | Sub Sale |
| 35 GILSTEAD | 11 | CCR | 3 | 01-05 | 1,615 | $3,828,000 | $2,371 | $2,371 | Jan 2024 | New Sale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.