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 |
|---|---|---|---|---|---|---|---|---|---|---|
| HORIZON GARDENS | 20 | OCR | 5* | - | 2,799 | $2,770,000 | $990 | $1,229 | Oct 2025 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 3,035 | $2,858,888 | $942 | $1,169 | Oct 2025 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 2,874 | $2,780,000 | $967 | $1,200 | Sep 2025 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 2,799 | $2,648,000 | $946 | $1,174 | Aug 2025 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 3,057 | $2,930,000 | $958 | $1,189 | Jun 2025 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 2,874 | $2,580,000 | $898 | $1,115 | Jan 2025 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 2,992 | $2,600,000 | $869 | $1,079 | Nov 2024 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 2,992 | $2,560,000 | $856 | $1,063 | Sep 2024 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 2,874 | $2,428,888 | $845 | $1,049 | Aug 2024 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 2,928 | $2,738,000 | $935 | $1,161 | Jul 2024 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 3,014 | $2,770,000 | $919 | $1,141 | Jun 2024 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 3,057 | $2,838,000 | $928 | $1,152 | May 2024 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 2,992 | $2,500,000 | $835 | $1,036 | May 2024 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 2,992 | $2,550,000 | $852 | $1,058 | Apr 2024 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 3,218 | $2,860,000 | $889 | $1,104 | Apr 2024 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 3,014 | $2,600,000 | $863 | $1,071 | Dec 2023 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 2,992 | $2,608,000 | $872 | $1,082 | Dec 2023 | Resale |
| HORIZON GARDENS | 20 | OCR | 5* | - | 3,014 | $2,703,999 | $897 | $1,113 | Oct 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.