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 |
|---|---|---|---|---|---|---|---|---|---|---|
| MODA | 15 | RCR | 2 | 11-15 | 764 | $1,560,000 | $2,041 | $2,041 | Aug 2025 | Resale |
| MODA | 15 | RCR | 2 | 11-15 | 980 | $2,150,000 | $2,195 | $2,195 | Jul 2025 | Resale |
| MODA | 15 | RCR | 2 | 11-15 | 646 | $1,400,000 | $2,168 | $2,168 | Oct 2024 | Resale |
| MODA | 15 | RCR | 2 | 11-15 | 969 | $2,100,000 | $2,168 | $2,168 | Oct 2024 | Resale |
| MODA | 15 | RCR | 2 | 11-15 | 969 | $2,050,000 | $2,116 | $2,116 | Oct 2024 | Resale |
| MODA | 15 | RCR | 2 | 11-15 | 969 | $2,090,000 | $2,157 | $2,157 | Aug 2024 | Resale |
| MODA | 15 | RCR | 2 | 11-15 | 969 | $2,076,888 | $2,144 | $2,144 | May 2024 | Resale |
| MODA | 15 | RCR | 3 | 16-20 | 1,841 | $3,400,000 | $1,847 | $1,847 | Feb 2024 | Resale |
| MODA | 15 | RCR | 2 | 11-15 | 764 | $1,528,000 | $1,999 | $1,999 | Feb 2024 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.