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 |
|---|---|---|---|---|---|---|---|---|---|---|
| PICARDY GARDENS | 16 | OCR | 4* | 01-05 | 1,302 | $1,750,000 | $1,344 | $1,344 | Jan 2026 | Resale |
| PICARDY GARDENS | 16 | OCR | 4* | 01-05 | 1,593 | $2,388,000 | $1,499 | $1,499 | Oct 2025 | Resale |
| PICARDY GARDENS | 16 | OCR | 5* | - | 2,310 | $4,250,000 | $1,840 | $1,840 | Aug 2025 | Resale |
| PICARDY GARDENS | 16 | OCR | 5* | - | 4,143 | $7,000,000 | $1,690 | $1,690 | Nov 2024 | Resale |
| PICARDY GARDENS | 16 | OCR | 5* | - | 3,552 | $6,500,000 | $1,830 | $1,830 | Mar 2024 | Resale |
| PICARDY GARDENS | 16 | OCR | 5* | - | 2,310 | $3,940,000 | $1,706 | $1,706 | Jan 2024 | Resale |
| PICARDY GARDENS | 16 | OCR | 5* | - | 2,310 | $3,888,888 | $1,684 | $1,684 | Jun 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.