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 |
|---|---|---|---|---|---|---|---|---|---|---|
| LUMINA GRAND | 23 | OCR | 3 | 11-15 | 969 | $1,678,000 | $1,732 | $1,812 | Apr 2026 | New Sale |
| LUMINA GRAND | 23 | OCR | 4 | 06-10 | 1,270 | $2,032,000 | $1,600 | $1,674 | Mar 2026 | New Sale |
| LUMINA GRAND | 23 | OCR | 4 | 11-15 | 1,141 | $1,688,000 | $1,479 | $1,547 | Mar 2026 | New Sale |
| LUMINA GRAND | 23 | OCR | 3 | 01-05 | 969 | $1,638,000 | $1,691 | $1,769 | Mar 2026 | New Sale |
| LUMINA GRAND | 23 | OCR | 3 | 01-05 | 936 | $1,504,000 | $1,606 | $1,680 | Sep 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 3 | 06-10 | 969 | $1,519,000 | $1,568 | $1,640 | Sep 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 3 | 01-05 | 936 | $1,422,000 | $1,518 | $1,588 | Aug 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 3 | 01-05 | 936 | $1,417,000 | $1,513 | $1,583 | Aug 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 3 | 01-05 | 936 | $1,444,000 | $1,542 | $1,613 | Jul 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 5 | 01-05 | 1,496 | $2,226,000 | $1,488 | $1,556 | Jul 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 5 | 01-05 | 1,496 | $2,154,000 | $1,440 | $1,506 | Jul 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 3 | 01-05 | 936 | $1,410,000 | $1,506 | $1,575 | Jun 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 5 | 01-05 | 1,496 | $2,247,000 | $1,502 | $1,571 | Jun 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 5 | 01-05 | 1,496 | $2,185,000 | $1,460 | $1,527 | Jun 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 5 | 01-05 | 1,496 | $2,244,000 | $1,500 | $1,569 | Jun 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 3 | 11-15 | 969 | $1,652,000 | $1,705 | $1,783 | Jun 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 3 | 01-05 | 936 | $1,401,000 | $1,496 | $1,565 | Jun 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 3 | 01-05 | 936 | $1,378,000 | $1,472 | $1,540 | Jun 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 3 | 01-05 | 936 | $1,471,000 | $1,571 | $1,643 | May 2025 | New Sale |
| LUMINA GRAND | 23 | OCR | 3 | 01-05 | 936 | $1,417,000 | $1,513 | $1,583 | May 2025 | New Sale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.