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 |
|---|---|---|---|---|---|---|---|---|---|---|
| NOVENA COURT | 11 | CCR | 2* | 01-05 | 861 | $1,420,000 | $1,649 | $1,649 | Jun 2025 | Resale |
| NOVENA COURT | 11 | CCR | 2* | 01-05 | 861 | $1,418,000 | $1,647 | $1,647 | Mar 2025 | Resale |
| NOVENA COURT | 11 | CCR | 2* | 01-05 | 861 | $1,370,000 | $1,591 | $1,591 | Dec 2024 | Resale |
| NOVENA COURT | 11 | CCR | 2* | 01-05 | 861 | $1,390,000 | $1,614 | $1,614 | Sep 2024 | Resale |
| NOVENA COURT | 11 | CCR | 2* | 01-05 | 829 | $1,350,000 | $1,629 | $1,629 | Jul 2024 | Resale |
| NOVENA COURT | 11 | CCR | 2* | 01-05 | 775 | $1,180,000 | $1,523 | $1,523 | Apr 2024 | Resale |
| NOVENA COURT | 11 | CCR | 2* | 01-05 | 861 | $1,350,000 | $1,568 | $1,568 | Mar 2024 | Resale |
| NOVENA COURT | 11 | CCR | 2* | 01-05 | 861 | $1,488,888 | $1,729 | $1,729 | Nov 2023 | Resale |
| NOVENA COURT | 11 | CCR | 2* | 01-05 | 861 | $1,250,000 | $1,452 | $1,452 | Nov 2023 | Resale |
| NOVENA COURT | 11 | CCR | 2* | 01-05 | 861 | $1,388,888 | $1,613 | $1,613 | Oct 2023 | Resale |
| NOVENA COURT | 11 | CCR | 2* | 01-05 | 861 | $1,340,800 | $1,557 | $1,557 | Aug 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.