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 |
|---|---|---|---|---|---|---|---|---|---|---|
| HOUGANG GREEN | 19 | OCR | 3 | 06-10 | 1,141 | $1,038,888 | $911 | $1,139 | Feb 2026 | Resale |
| HOUGANG GREEN | 19 | OCR | 2 | 06-10 | 764 | $851,000 | $1,114 | $1,393 | Jan 2026 | Resale |
| HOUGANG GREEN | 19 | OCR | 3 | 11-15 | 1,141 | $1,000,000 | $876 | $1,095 | Oct 2025 | Resale |
| HOUGANG GREEN | 19 | OCR | 2 | 16-20 | 764 | $860,000 | $1,125 | $1,406 | May 2025 | Resale |
| HOUGANG GREEN | 19 | OCR | 3 | 11-15 | 1,141 | $1,050,000 | $920 | $1,150 | Mar 2025 | Resale |
| HOUGANG GREEN | 19 | OCR | 2 | 01-05 | 764 | $830,000 | $1,086 | $1,358 | Feb 2025 | Resale |
| HOUGANG GREEN | 19 | OCR | 5* | 16-20 | 2,120 | $1,980,000 | $934 | $1,168 | Jul 2024 | Resale |
| HOUGANG GREEN | 19 | OCR | 2 | 01-05 | 764 | $790,000 | $1,034 | $1,293 | Jan 2024 | Resale |
| HOUGANG GREEN | 19 | OCR | 3 | 01-05 | 1,130 | $918,000 | $812 | $1,015 | Aug 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.