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 |
|---|---|---|---|---|---|---|---|---|---|---|
| HARBOUR RESIDENCES | 5 | RCR | 5* | - | 2,111 | $5,950,000 | $2,819 | $2,819 | Mar 2026 | New Sale |
| HARBOUR RESIDENCES | 5 | RCR | 5* | - | 2,185 | $6,340,000 | $2,902 | $2,902 | Sep 2025 | New Sale |
| HARBOUR RESIDENCES | 5 | RCR | 5* | - | 2,192 | $6,340,000 | $2,893 | $2,893 | Sep 2025 | New Sale |
| HARBOUR RESIDENCES | 5 | RCR | 5* | - | 1,984 | $5,630,000 | $2,838 | $2,838 | Sep 2025 | New Sale |
| HARBOUR RESIDENCES | 5 | RCR | 5* | - | 3,326 | $7,700,000 | $2,315 | $2,315 | Dec 2024 | New Sale |
| HARBOUR RESIDENCES | 5 | RCR | 5* | - | 3,333 | $7,700,000 | $2,311 | $2,311 | Dec 2024 | New Sale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.