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 |
|---|---|---|---|---|---|---|---|---|---|---|
| ARDMORE II | 10 | CCR | 4 | 31-35 | 2,024 | $7,000,000 | $3,459 | $3,459 | Dec 2025 | Resale |
| ARDMORE II | 10 | CCR | 4 | 21-25 | 2,024 | $6,850,000 | $3,385 | $3,385 | Feb 2025 | Resale |
| ARDMORE II | 10 | CCR | 4 | 31-35 | 2,024 | $7,068,000 | $3,493 | $3,493 | Feb 2025 | Resale |
| ARDMORE II | 10 | CCR | 4 | 26-30 | 2,024 | $6,880,000 | $3,400 | $3,400 | Sep 2024 | Resale |
| ARDMORE II | 10 | CCR | 4 | 16-20 | 2,024 | $6,750,000 | $3,336 | $3,336 | Jan 2024 | Resale |
| ARDMORE II | 10 | CCR | 4 | 26-30 | 2,024 | $6,960,000 | $3,439 | $3,439 | Jan 2024 | Resale |
| ARDMORE II | 10 | CCR | 4 | 21-25 | 2,024 | $6,600,000 | $3,261 | $3,261 | Jun 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.