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 |
|---|---|---|---|---|---|---|---|---|---|---|
| HILLTOPS | 9 | CCR | 2 | 01-05 | 1,550 | $5,120,000 | $3,303 | $3,303 | Apr 2026 | Resale |
| HILLTOPS | 9 | CCR | 2 | 16-20 | 1,249 | $4,400,000 | $3,524 | $3,524 | Jan 2026 | Resale |
| HILLTOPS | 9 | CCR | 4 | 06-10 | 2,390 | $8,000,000 | $3,348 | $3,348 | Oct 2025 | Resale |
| HILLTOPS | 9 | CCR | 4* | 06-10 | 1,593 | $5,420,000 | $3,402 | $3,402 | Aug 2025 | Resale |
| HILLTOPS | 9 | CCR | 4* | 11-15 | 1,270 | $3,965,000 | $3,122 | $3,122 | Aug 2025 | Resale |
| HILLTOPS | 9 | CCR | 2 | 11-15 | 1,335 | $4,320,000 | $3,237 | $3,237 | Aug 2025 | Resale |
| HILLTOPS | 9 | CCR | 4* | 11-15 | 1,270 | $3,300,000 | $2,598 | $2,598 | May 2025 | Resale |
| HILLTOPS | 9 | CCR | 4* | 11-15 | 1,270 | $3,950,000 | $3,110 | $3,110 | May 2025 | Resale |
| HILLTOPS | 9 | CCR | 5 | 11-15 | 2,874 | $13,000,000 | $4,523 | $4,523 | Apr 2025 | Resale |
| HILLTOPS | 9 | CCR | 5* | 01-05 | 1,819 | $5,950,000 | $3,271 | $3,271 | Apr 2025 | Resale |
| HILLTOPS | 9 | CCR | 3 | 16-20 | 1,711 | $6,235,000 | $3,643 | $3,643 | Mar 2025 | Resale |
| HILLTOPS | 9 | CCR | 5* | 01-05 | 2,056 | $5,888,888 | $2,864 | $2,864 | Feb 2025 | Resale |
| HILLTOPS | 9 | CCR | 2 | 11-15 | 1,335 | $4,325,000 | $3,240 | $3,240 | Dec 2024 | Resale |
| HILLTOPS | 9 | CCR | 4* | 06-10 | 1,593 | $5,320,000 | $3,339 | $3,339 | Dec 2024 | Resale |
| HILLTOPS | 9 | CCR | 5* | 11-15 | 1,733 | $5,980,000 | $3,451 | $3,451 | Dec 2024 | Resale |
| HILLTOPS | 9 | CCR | 3 | 16-20 | 1,711 | $6,455,000 | $3,772 | $3,772 | Nov 2024 | Resale |
| HILLTOPS | 9 | CCR | 5* | 11-15 | 1,819 | $6,547,000 | $3,599 | $3,599 | Nov 2024 | Resale |
| HILLTOPS | 9 | CCR | 3 | 16-20 | 1,711 | $6,313,000 | $3,689 | $3,689 | Sep 2024 | Resale |
| HILLTOPS | 9 | CCR | 2 | 06-10 | 1,550 | $4,600,000 | $2,968 | $2,968 | Jun 2024 | Resale |
| HILLTOPS | 9 | CCR | 3* | 01-05 | 990 | $2,592,000 | $2,617 | $2,617 | Jun 2024 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.