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 |
|---|---|---|---|---|---|---|---|---|---|---|
| SKYWATERS RESIDENCES | 1 | CCR | 5* | 26-30 | 2,099 | $12,482,340 | $5,947 | $6,260 | Apr 2026 | New Sale |
| SKYWATERS RESIDENCES | 1 | CCR | 5* | 26-30 | 1,798 | $11,687,000 | $6,502 | $6,844 | Oct 2025 | New Sale |
| SKYWATERS RESIDENCES | 1 | CCR | 5* | 51-55 | 5,285 | $30,870,000 | $5,841 | $6,148 | Jun 2025 | New Sale |
| SKYWATERS RESIDENCES | 1 | CCR | 5* | 56-60 | 7,761 | $47,342,000 | $6,100 | $6,421 | May 2024 | New Sale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.