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 |
|---|---|---|---|---|---|---|---|---|---|---|
| PAYA LEBAR RESIDENCES | 14 | RCR | 3 | 11-15 | 1,302 | $2,350,000 | $1,804 | $1,804 | Nov 2025 | Resale |
| PAYA LEBAR RESIDENCES | 14 | RCR | 3* | 11-15 | 947 | $1,760,000 | $1,858 | $1,858 | Oct 2025 | Resale |
| PAYA LEBAR RESIDENCES | 14 | RCR | 3 | 11-15 | 1,302 | $2,350,000 | $1,804 | $1,804 | Jul 2025 | Resale |
| PAYA LEBAR RESIDENCES | 14 | RCR | 3 | 16-20 | 1,281 | $2,308,000 | $1,802 | $1,802 | Mar 2025 | Resale |
| PAYA LEBAR RESIDENCES | 14 | RCR | 2 | 06-10 | 872 | $1,668,000 | $1,913 | $1,913 | Dec 2024 | Resale |
| PAYA LEBAR RESIDENCES | 14 | RCR | 3 | 11-15 | 1,281 | $2,310,000 | $1,803 | $1,803 | Sep 2024 | Resale |
| PAYA LEBAR RESIDENCES | 14 | RCR | 3 | 06-10 | 1,281 | $2,320,000 | $1,811 | $1,811 | Apr 2024 | Resale |
| PAYA LEBAR RESIDENCES | 14 | RCR | 3 | 01-05 | 1,281 | $2,090,000 | $1,632 | $1,632 | Dec 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.