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 |
|---|---|---|---|---|---|---|---|---|---|---|
| ESTA RUBY | 14 | RCR | 3 | 16-20 | 1,130 | $2,188,000 | $1,936 | $1,936 | Dec 2025 | Resale |
| ESTA RUBY | 14 | RCR | 3 | 11-15 | 1,130 | $2,038,000 | $1,803 | $1,803 | Oct 2025 | Resale |
| ESTA RUBY | 14 | RCR | 2 | 16-20 | 958 | $1,700,000 | $1,775 | $1,775 | May 2025 | Resale |
| ESTA RUBY | 14 | RCR | 3 | 11-15 | 1,130 | $2,050,000 | $1,814 | $1,814 | Apr 2025 | Resale |
| ESTA RUBY | 14 | RCR | 3 | 16-20 | 1,130 | $2,050,000 | $1,814 | $1,814 | Dec 2024 | Resale |
| ESTA RUBY | 14 | RCR | 3 | 16-20 | 1,130 | $2,020,000 | $1,787 | $1,787 | Nov 2024 | Resale |
| ESTA RUBY | 14 | RCR | 2 | 16-20 | 958 | $1,672,000 | $1,745 | $1,745 | Nov 2024 | Resale |
| ESTA RUBY | 14 | RCR | 3 | 11-15 | 1,130 | $1,915,000 | $1,694 | $1,694 | May 2024 | Resale |
| ESTA RUBY | 14 | RCR | 3 | 16-20 | 1,130 | $1,930,000 | $1,708 | $1,708 | Apr 2024 | Resale |
| ESTA RUBY | 14 | RCR | 3 | 16-20 | 1,130 | $2,000,000 | $1,770 | $1,770 | Apr 2024 | Resale |
| ESTA RUBY | 14 | RCR | 3 | 01-05 | 1,130 | $1,700,000 | $1,504 | $1,504 | Sep 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.