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 | 5* | 21-25 | 2,508 | $4,150,000 | $1,655 | $1,925 | Jun 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 01-05 | 1,561 | $2,780,000 | $1,781 | $2,072 | Jun 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 16-20 | 1,410 | $3,180,000 | $2,255 | $2,623 | Jun 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 5* | 31-35 | 2,056 | $3,300,000 | $1,605 | $1,867 | May 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 5* | 01-05 | 2,949 | $5,700,000 | $1,933 | $2,248 | May 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 5* | 36-40 | 2,056 | $3,800,000 | $1,848 | $2,149 | May 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 21-25 | 1,421 | $2,800,000 | $1,971 | $2,293 | May 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 5* | 06-10 | 1,905 | $3,390,000 | $1,779 | $2,069 | May 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 5* | 31-35 | 2,131 | $3,750,000 | $1,760 | $2,047 | May 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 16-20 | 1,475 | $2,750,000 | $1,865 | $2,169 | May 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 5* | 06-10 | 1,690 | $3,200,000 | $1,894 | $2,203 | May 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 4* | 01-05 | 1,378 | $2,400,888 | $1,743 | $2,027 | 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 | 4* | 16-20 | 1,345 | $2,626,000 | $1,952 | $2,270 | Apr 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 5* | 11-15 | 1,991 | $3,150,000 | $1,582 | $1,840 | Apr 2026 | Resale |
| 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 | 1,012 | $1,720,000 | $1,700 | $1,977 | Apr 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* | 36-40 | 1,550 | $2,900,000 | $1,871 | $2,176 | Mar 2026 | Resale |
| REFLECTIONS AT KEPPEL BAY | 4 | RCR | 3* | 06-10 | 1,012 | $1,830,000 | $1,809 | $2,104 | Mar 2026 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.