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 |
|---|---|---|---|---|---|---|---|---|---|---|
| HERITAGE EAST | 15 | OCR | 2 | 01-05 | 1,356 | $2,100,000 | $1,548 | $1,548 | Oct 2025 | Resale |
| HERITAGE EAST | 15 | OCR | 1 | 01-05 | 463 | $790,000 | $1,707 | $1,707 | Aug 2025 | Resale |
| HERITAGE EAST | 15 | OCR | 1 | 01-05 | 441 | $758,000 | $1,718 | $1,718 | Apr 2025 | Resale |
| HERITAGE EAST | 15 | OCR | 3 | 01-05 | 1,281 | $1,780,000 | $1,390 | $1,390 | Apr 2025 | Resale |
| HERITAGE EAST | 15 | OCR | 1 | 01-05 | 344 | $670,000 | $1,945 | $1,945 | Mar 2025 | Resale |
| HERITAGE EAST | 15 | OCR | 1 | 01-05 | 463 | $785,000 | $1,696 | $1,696 | Nov 2024 | Resale |
| HERITAGE EAST | 15 | OCR | 1 | 01-05 | 441 | $800,000 | $1,813 | $1,813 | Jul 2024 | Resale |
| HERITAGE EAST | 15 | OCR | 1 | 01-05 | 409 | $725,000 | $1,772 | $1,772 | Jan 2024 | Resale |
| HERITAGE EAST | 15 | OCR | 1 | 01-05 | 463 | $748,000 | $1,616 | $1,616 | Dec 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.