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 |
|---|---|---|---|---|---|---|---|---|---|---|
| PAPILLON | 12 | RCR | 2 | 06-10 | 936 | $1,395,000 | $1,490 | $1,490 | Jan 2026 | Resale |
| PAPILLON | 12 | RCR | 3 | 11-15 | 1,227 | $1,856,000 | $1,513 | $1,513 | Sep 2025 | Resale |
| PAPILLON | 12 | RCR | 2 | 16-20 | 1,787 | $2,470,000 | $1,382 | $1,382 | May 2024 | Resale |
| PAPILLON | 12 | RCR | 2 | 06-10 | 936 | $1,450,000 | $1,548 | $1,548 | Jan 2024 | Resale |
| PAPILLON | 12 | RCR | 2 | 11-15 | 936 | $1,573,000 | $1,680 | $1,680 | Nov 2023 | Resale |
| PAPILLON | 12 | RCR | 2 | 16-20 | 936 | $1,528,000 | $1,632 | $1,632 | Jun 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.