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 |
|---|---|---|---|---|---|---|---|---|---|---|
| PEOPLE'S GARDEN | 19 | OCR | 5* | - | 2,947 | $4,838,888 | $1,642 | $1,728 | Feb 2026 | Resale |
| PEOPLE'S GARDEN | 19 | OCR | 5* | - | 1,874 | $4,150,000 | $2,215 | $2,332 | Aug 2025 | Resale |
| PEOPLE'S GARDEN | 19 | OCR | 5* | - | 2,754 | $5,528,000 | $2,007 | $2,113 | Jul 2025 | Resale |
| PEOPLE'S GARDEN | 19 | OCR | 5* | - | 1,896 | $5,980,000 | $3,155 | $3,321 | Jul 2025 | Resale |
| PEOPLE'S GARDEN | 19 | OCR | 5* | - | 1,840 | $3,695,000 | $2,009 | $2,115 | Feb 2025 | Resale |
| PEOPLE'S GARDEN | 19 | OCR | 5* | - | 3,856 | $4,850,000 | $1,258 | $1,324 | Jul 2024 | Resale |
| PEOPLE'S GARDEN | 19 | OCR | 3* | 01-05 | 1,249 | $1,408,888 | $1,128 | $1,187 | May 2024 | Resale |
| PEOPLE'S GARDEN | 19 | OCR | 5* | - | 1,997 | $3,500,000 | $1,753 | $1,845 | Mar 2024 | Resale |
| PEOPLE'S GARDEN | 19 | OCR | 3* | 01-05 | 1,195 | $1,550,000 | $1,297 | $1,365 | Dec 2023 | Resale |
| PEOPLE'S GARDEN | 19 | OCR | 5* | - | 1,888 | $3,300,000 | $1,748 | $1,840 | Oct 2023 | Resale |
| PEOPLE'S GARDEN | 19 | OCR | 5* | - | 1,871 | $3,250,000 | $1,737 | $1,828 | Aug 2023 | Resale |
| PEOPLE'S GARDEN | 19 | OCR | 5* | - | 1,891 | $3,220,000 | $1,703 | $1,793 | Jul 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.