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 |
|---|---|---|---|---|---|---|---|---|---|---|
| ONE DEVONSHIRE | 9 | CCR | 3 | 01-05 | 1,292 | $3,250,000 | $2,516 | $2,516 | Jan 2026 | Resale |
| ONE DEVONSHIRE | 9 | CCR | 3 | 11-15 | 1,195 | $3,400,000 | $2,846 | $2,846 | Dec 2025 | Resale |
| ONE DEVONSHIRE | 9 | CCR | 3 | 11-15 | 1,270 | $3,280,000 | $2,582 | $2,582 | Jun 2025 | Resale |
| ONE DEVONSHIRE | 9 | CCR | 4 | 31-35 | 2,400 | $7,020,000 | $2,925 | $2,925 | Jul 2024 | Resale |
| ONE DEVONSHIRE | 9 | CCR | 3 | 06-10 | 1,195 | $3,260,000 | $2,729 | $2,729 | Apr 2024 | Resale |
| ONE DEVONSHIRE | 9 | CCR | 4 | 26-30 | 1,496 | $4,450,000 | $2,974 | $2,974 | Nov 2023 | Resale |
| ONE DEVONSHIRE | 9 | CCR | 3 | 26-30 | 1,216 | $3,680,000 | $3,026 | $3,026 | Sep 2023 | Resale |
| ONE DEVONSHIRE | 9 | CCR | 3 | 26-30 | 1,216 | $3,700,000 | $3,042 | $3,042 | Aug 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.