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 |
|---|---|---|---|---|---|---|---|---|---|---|
| DUKE'S GARDEN | 10 | CCR | 5* | - | 3,777 | $10,400,000 | $2,753 | $2,898 | Apr 2026 | Resale |
| DUKE'S GARDEN | 10 | CCR | 5* | - | 3,774 | $9,800,000 | $2,597 | $2,734 | Nov 2025 | Resale |
| DUKE'S GARDEN | 10 | CCR | 5* | - | 3,786 | $11,380,000 | $3,006 | $3,164 | Aug 2025 | Resale |
| DUKE'S GARDEN | 10 | CCR | 5* | - | 3,786 | $9,976,000 | $2,635 | $2,774 | Aug 2025 | Resale |
| DUKE'S GARDEN | 10 | CCR | 5* | - | 3,786 | $9,750,000 | $2,576 | $2,712 | Jun 2024 | Resale |
| DUKE'S GARDEN | 10 | CCR | 5* | - | 3,778 | $9,380,000 | $2,483 | $2,614 | Apr 2024 | Resale |
| DUKE'S GARDEN | 10 | CCR | 5* | - | 3,774 | $12,200,000 | $3,233 | $3,403 | Sep 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.