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 |
|---|---|---|---|---|---|---|---|---|---|---|
| IKIGAI | 11 | CCR | 5* | 01-05 | 1,916 | $3,800,000 | $1,983 | $1,983 | Jan 2026 | Resale |
| IKIGAI | 11 | CCR | 4* | 01-05 | 1,496 | $2,950,000 | $1,972 | $1,972 | Nov 2025 | Resale |
| IKIGAI | 11 | CCR | 4* | 01-05 | 1,572 | $3,635,800 | $2,314 | $2,314 | Jun 2024 | New Sale |
| IKIGAI | 11 | CCR | 2 | 01-05 | 1,087 | $2,520,000 | $2,318 | $2,318 | Feb 2024 | New Sale |
| IKIGAI | 11 | CCR | 2 | 01-05 | 1,087 | $2,530,000 | $2,327 | $2,327 | Feb 2024 | New Sale |
| IKIGAI | 11 | CCR | 2 | 01-05 | 969 | $2,200,000 | $2,271 | $2,271 | Oct 2023 | New Sale |
| IKIGAI | 11 | CCR | 2 | 01-05 | 969 | $2,240,000 | $2,312 | $2,312 | Jun 2023 | New Sale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.