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 |
|---|---|---|---|---|---|---|---|---|---|---|
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 01-05 | 1,324 | $2,100,000 | $1,586 | $1,845 | Apr 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 3* | 06-10 | 1,119 | $1,818,000 | $1,624 | $1,889 | Apr 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 3* | 06-10 | 1,012 | $1,720,000 | $1,700 | $1,977 | Apr 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 3* | 06-10 | 1,012 | $1,830,000 | $1,809 | $2,104 | Mar 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 11-15 | 1,539 | $2,500,000 | $1,624 | $1,889 | Mar 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 01-05 | 1,528 | $2,800,000 | $1,832 | $2,131 | Mar 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 01-05 | 1,292 | $2,100,000 | $1,626 | $1,891 | Mar 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 21-25 | 1,518 | $2,550,000 | $1,680 | $1,954 | Mar 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 5* | 01-05 | 1,765 | $3,530,000 | $2,000 | $2,326 | Mar 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 36-40 | 1,550 | $2,900,000 | $1,871 | $2,176 | Mar 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 2* | 11-15 | 786 | $1,650,000 | $2,100 | $2,443 | Jan 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 3* | 06-10 | 1,249 | $2,170,000 | $1,738 | $2,022 | Dec 2025 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 5* | 16-20 | 1,755 | $2,700,000 | $1,539 | $1,790 | Dec 2025 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 3* | 01-05 | 1,055 | $1,730,000 | $1,640 | $1,908 | Dec 2025 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 06-10 | 1,302 | $2,110,000 | $1,620 | $1,884 | Dec 2025 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 3* | 01-05 | 1,109 | $1,875,000 | $1,691 | $1,967 | Dec 2025 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 5* | 01-05 | 1,615 | $3,260,000 | $2,019 | $2,348 | Dec 2025 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 01-05 | 1,550 | $2,550,000 | $1,645 | $1,913 | Nov 2025 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 2* | 01-05 | 883 | $1,520,000 | $1,722 | $2,003 | Nov 2025 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 01-05 | 1,561 | $3,150,000 | $2,018 | $2,347 | Oct 2025 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.