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 |
|---|---|---|---|---|---|---|---|---|---|---|
| FOREST HILLS CONDOMINIUM | 26 | OCR | 3 | 01-05 | 1,163 | $1,350,000 | $1,161 | $1,397 | Jun 2025 | Resale |
| FOREST HILLS CONDOMINIUM | 26 | OCR | 3 | 01-05 | 1,367 | $1,350,000 | $988 | $1,189 | Apr 2025 | Resale |
| FOREST HILLS CONDOMINIUM | 26 | OCR | 4 | 01-05 | 1,798 | $1,978,000 | $1,100 | $1,323 | Apr 2025 | Resale |
| FOREST HILLS CONDOMINIUM | 26 | OCR | 3 | 01-05 | 1,367 | $1,510,000 | $1,105 | $1,329 | Mar 2025 | Resale |
| FOREST HILLS CONDOMINIUM | 26 | OCR | 2 | 01-05 | 1,044 | $1,148,000 | $1,100 | $1,323 | Nov 2024 | Resale |
| FOREST HILLS CONDOMINIUM | 26 | OCR | 3 | 01-05 | 1,163 | $1,290,000 | $1,110 | $1,335 | Feb 2024 | Resale |
| FOREST HILLS CONDOMINIUM | 26 | OCR | 3 | 01-05 | 1,163 | $1,260,000 | $1,084 | $1,304 | Feb 2024 | Resale |
| FOREST HILLS CONDOMINIUM | 26 | OCR | 2 | 01-05 | 1,044 | $1,165,000 | $1,116 | $1,343 | Jan 2024 | Resale |
| FOREST HILLS CONDOMINIUM | 26 | OCR | 3 | 01-05 | 1,227 | $1,328,000 | $1,082 | $1,302 | Dec 2023 | Resale |
| FOREST HILLS CONDOMINIUM | 26 | OCR | 3 | 01-05 | 1,195 | $1,280,000 | $1,071 | $1,288 | Aug 2023 | Resale |
| FOREST HILLS CONDOMINIUM | 26 | OCR | 3 | 01-05 | 1,227 | $1,220,000 | $994 | $1,196 | Jul 2023 | Resale |
| FOREST HILLS CONDOMINIUM | 26 | OCR | 3 | 01-05 | 1,539 | $1,250,000 | $812 | $977 | May 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.