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).
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Transaction prices per square foot
| Project | Dist | Region | Bed | Floor | Area | Price | PSF | 99yr Norm | Date | Type |
|---|---|---|---|---|---|---|---|---|---|---|
| CHIP HOCK GARDENS | 10 | CCR | 5* | - | 10,800 | $22,000,000 | $2,037 | — | Feb 2026 | Resale |
| CHIP HOCK GARDENS | 10 | CCR | 5* | - | 3,148 | $9,200,000 | $2,922 | — | Dec 2024 | Resale |
| CHIP HOCK GARDENS | 10 | CCR | 5* | - | 2,510 | $6,550,000 | $2,609 | — | Jul 2024 | Resale |
| CHIP HOCK GARDENS | 10 | CCR | 5* | - | 3,148 | $8,800,000 | $2,795 | — | Jun 2024 | Resale |
| CHIP HOCK GARDENS | 10 | CCR | 5* | - | 8,950 | $10,125,000 | $1,131 | — | Mar 2024 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.