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 |
|---|---|---|---|---|---|---|---|---|---|---|
| HILLVIEW GARDEN ESTATE | 23 | OCR | 5* | - | 3,167 | $5,075,000 | $1,603 | $1,603 | Nov 2025 | Resale |
| HILLVIEW GARDEN ESTATE | 23 | OCR | 3* | 01-05 | 1,076 | $1,730,000 | $1,607 | $1,692 | Oct 2025 | Resale |
| HILLVIEW GARDEN ESTATE | 23 | OCR | 5* | - | 2,497 | $4,600,000 | $1,842 | $1,842 | Jul 2025 | Resale |
| HILLVIEW GARDEN ESTATE | 23 | OCR | 5* | - | 5,145 | $7,600,000 | $1,477 | $1,477 | Jun 2025 | Resale |
| HILLVIEW GARDEN ESTATE | 23 | OCR | 5* | - | 2,223 | $4,100,000 | $1,845 | $1,845 | May 2025 | Resale |
| HILLVIEW GARDEN ESTATE | 23 | OCR | 5* | - | 2,214 | $4,680,000 | $2,114 | $2,225 | Jan 2025 | Resale |
| HILLVIEW GARDEN ESTATE | 23 | OCR | 5* | - | 2,244 | $4,500,000 | $2,005 | $2,005 | Aug 2024 | Resale |
| HILLVIEW GARDEN ESTATE | 23 | OCR | 5* | - | 2,241 | $3,525,000 | $1,573 | $1,573 | May 2024 | Resale |
| HILLVIEW GARDEN ESTATE | 23 | OCR | 5* | - | 3,300 | $4,500,000 | $1,364 | $1,436 | Mar 2024 | Resale |
| HILLVIEW GARDEN ESTATE | 23 | OCR | 5* | - | 4,853 | $7,540,000 | $1,554 | $1,554 | Oct 2023 | Resale |
| HILLVIEW GARDEN ESTATE | 23 | OCR | 5* | - | 3,312 | $4,900,000 | $1,479 | $1,557 | Oct 2023 | Resale |
| HILLVIEW GARDEN ESTATE | 23 | OCR | 5* | - | 3,190 | $4,350,000 | $1,363 | $1,363 | Sep 2023 | Resale |
| HILLVIEW GARDEN ESTATE | 23 | OCR | 5* | - | 2,244 | $3,980,000 | $1,773 | $1,773 | Jul 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.