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 |
|---|---|---|---|---|---|---|---|---|---|---|
| EMERALD HILL CONSERVATION AREA | 9 | CCR | 4* | - | 1,324 | $6,800,000 | $5,136 | $5,136 | Dec 2025 | Resale |
| EMERALD HILL CONSERVATION AREA | 9 | CCR | 5* | - | 2,216 | $10,500,000 | $4,738 | $4,738 | Apr 2025 | Resale |
| EMERALD HILL CONSERVATION AREA | 9 | CCR | 4* | - | 1,342 | $6,880,000 | $5,126 | $5,126 | Feb 2025 | Resale |
| EMERALD HILL CONSERVATION AREA | 9 | CCR | 5* | - | 1,992 | $8,500,000 | $4,266 | $4,266 | Apr 2024 | Resale |
| EMERALD HILL CONSERVATION AREA | 9 | CCR | 5* | - | 2,361 | $11,000,000 | $4,660 | $4,660 | Sep 2023 | Resale |
| EMERALD HILL CONSERVATION AREA | 9 | CCR | 5* | - | 1,932 | $8,800,000 | $4,555 | $4,555 | Sep 2023 | Resale |
| EMERALD HILL CONSERVATION AREA | 9 | CCR | 5* | 01-05 | 2,747 | $6,500,000 | $2,366 | $2,491 | Sep 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.