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 |
|---|---|---|---|---|---|---|---|---|---|---|
| ST MICHAEL'S PLACE | 12 | RCR | 3* | 11-15 | 1,249 | $1,805,000 | $1,446 | $1,446 | Nov 2025 | Resale |
| ST MICHAEL'S PLACE | 12 | RCR | 3* | 11-15 | 1,227 | $1,848,000 | $1,506 | $1,506 | Mar 2025 | Resale |
| ST MICHAEL'S PLACE | 12 | RCR | 4* | 01-05 | 1,281 | $1,550,000 | $1,210 | $1,210 | Apr 2024 | Resale |
| ST MICHAEL'S PLACE | 12 | RCR | 3* | 06-10 | 1,227 | $1,800,000 | $1,467 | $1,467 | Apr 2024 | Resale |
| ST MICHAEL'S PLACE | 12 | RCR | 4* | 01-05 | 1,259 | $1,728,000 | $1,372 | $1,372 | Jan 2024 | Resale |
| ST MICHAEL'S PLACE | 12 | RCR | 3* | 06-10 | 1,249 | $1,808,000 | $1,448 | $1,448 | Jan 2024 | Resale |
| ST MICHAEL'S PLACE | 12 | RCR | 4* | 01-05 | 1,259 | $1,718,888 | $1,365 | $1,365 | Oct 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.