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 |
|---|---|---|---|---|---|---|---|---|---|---|
| NESS | 14 | RCR | 1 | 01-05 | 431 | $680,000 | $1,579 | $1,579 | Jul 2025 | Resale |
| NESS | 14 | RCR | 1 | 01-05 | 560 | $780,000 | $1,394 | $1,394 | Apr 2024 | Resale |
| NESS | 14 | RCR | 1 | 06-10 | 441 | $720,000 | $1,631 | $1,631 | Dec 2023 | Resale |
| NESS | 14 | RCR | 1 | 01-05 | 463 | $718,000 | $1,551 | $1,551 | Nov 2023 | Resale |
| NESS | 14 | RCR | 1 | 01-05 | 463 | $695,000 | $1,502 | $1,502 | Sep 2023 | Resale |
| NESS | 14 | RCR | 1 | 01-05 | 431 | $680,000 | $1,579 | $1,579 | Aug 2023 | Resale |
| NESS | 14 | RCR | 1 | 06-10 | 570 | $790,000 | $1,385 | $1,385 | Aug 2023 | Resale |
| NESS | 14 | RCR | 1 | 01-05 | 388 | $613,000 | $1,582 | $1,582 | Jul 2023 | Resale |
| NESS | 14 | RCR | 1 | 01-05 | 452 | $680,000 | $1,504 | $1,504 | Jun 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.