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 |
|---|---|---|---|---|---|---|---|---|---|---|
| LUTHERAN TOWERS | 10 | CCR | 5* | 01-05 | 1,916 | $2,188,000 | $1,142 | $1,598 | Feb 2026 | Resale |
| LUTHERAN TOWERS | 10 | CCR | 5* | 06-10 | 1,916 | $2,168,000 | $1,132 | $1,584 | Jan 2026 | Resale |
| LUTHERAN TOWERS | 10 | CCR | 5* | 06-10 | 1,916 | $2,350,000 | $1,227 | $1,717 | Jan 2026 | Resale |
| LUTHERAN TOWERS | 10 | CCR | 5* | 06-10 | 1,916 | $2,168,000 | $1,132 | $1,584 | Aug 2025 | Resale |
| LUTHERAN TOWERS | 10 | CCR | 5* | 01-05 | 1,916 | $2,180,000 | $1,138 | $1,593 | May 2025 | Resale |
| LUTHERAN TOWERS | 10 | CCR | 5* | 01-05 | 1,916 | $2,472,000 | $1,290 | $1,805 | Nov 2024 | Resale |
| LUTHERAN TOWERS | 10 | CCR | 5* | 01-05 | 1,916 | $2,300,000 | $1,200 | $1,679 | Aug 2024 | Resale |
| LUTHERAN TOWERS | 10 | CCR | 5* | 11-15 | 1,916 | $2,250,000 | $1,174 | $1,643 | Jul 2024 | Resale |
| LUTHERAN TOWERS | 10 | CCR | 5* | 16-20 | 1,916 | $2,200,000 | $1,148 | $1,607 | May 2024 | Resale |
| LUTHERAN TOWERS | 10 | CCR | 5* | 06-10 | 1,916 | $2,288,000 | $1,194 | $1,671 | Jan 2024 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.