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 |
|---|---|---|---|---|---|---|---|---|---|---|
| NOVA 48 | 12 | RCR | 2 | 01-05 | 861 | $1,490,000 | $1,730 | $1,730 | Oct 2025 | Resale |
| NOVA 48 | 12 | RCR | 3 | 06-10 | 1,152 | $2,080,000 | $1,806 | $1,806 | Sep 2025 | Resale |
| NOVA 48 | 12 | RCR | 3 | 01-05 | 1,098 | $1,900,000 | $1,731 | $1,731 | Sep 2024 | Resale |
| NOVA 48 | 12 | RCR | 2 | 01-05 | 861 | $1,480,000 | $1,719 | $1,719 | Apr 2024 | Resale |
| NOVA 48 | 12 | RCR | 3 | 06-10 | 936 | $1,630,000 | $1,741 | $1,741 | Feb 2024 | Resale |
| NOVA 48 | 12 | RCR | 3 | 01-05 | 1,066 | $1,750,000 | $1,642 | $1,642 | Oct 2023 | Resale |
| NOVA 48 | 12 | RCR | 3 | 06-10 | 936 | $1,600,000 | $1,709 | $1,709 | Sep 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.