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 |
|---|---|---|---|---|---|---|---|---|---|---|
| HOLLAND GROVE PARK | 10 | CCR | 5* | - | 7,100 | $15,800,000 | $2,225 | $2,225 | Dec 2025 | Resale |
| HOLLAND GROVE PARK | 10 | CCR | 5* | - | 3,160 | $7,080,000 | $2,240 | $2,240 | Aug 2025 | Resale |
| HOLLAND GROVE PARK | 10 | CCR | 5* | - | 9,850 | $24,725,000 | $2,510 | $2,510 | Feb 2025 | Resale |
| HOLLAND GROVE PARK | 10 | CCR | 5* | - | 3,980 | $10,000,000 | $2,512 | $2,512 | Jan 2025 | Resale |
| HOLLAND GROVE PARK | 10 | CCR | 5* | - | 3,892 | $7,888,000 | $2,027 | $2,027 | Oct 2024 | Resale |
| HOLLAND GROVE PARK | 10 | CCR | 5* | - | 7,100 | $15,500,000 | $2,183 | $2,183 | Sep 2024 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.