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 NICHOLAS VIEW | 20 | OCR | 5* | - | 1,619 | $2,720,000 | $1,680 | $2,085 | Sep 2025 | Resale |
| ST NICHOLAS VIEW | 20 | OCR | 5* | - | 2,255 | $2,700,000 | $1,197 | $1,486 | Aug 2024 | Resale |
| ST NICHOLAS VIEW | 20 | OCR | 5* | - | 1,615 | $2,500,000 | $1,548 | $1,922 | Jul 2024 | Resale |
| ST NICHOLAS VIEW | 20 | OCR | 5* | - | 1,640 | $2,490,000 | $1,518 | $1,884 | May 2024 | Resale |
| ST NICHOLAS VIEW | 20 | OCR | 5* | - | 1,615 | $2,430,000 | $1,505 | $1,868 | Mar 2024 | Resale |
| ST NICHOLAS VIEW | 20 | OCR | 5* | - | 1,615 | $2,528,000 | $1,566 | $1,944 | Feb 2024 | Resale |
| ST NICHOLAS VIEW | 20 | OCR | 5* | - | 1,746 | $2,488,888 | $1,426 | $1,770 | Oct 2023 | Resale |
| ST NICHOLAS VIEW | 20 | OCR | 5* | - | 1,615 | $2,700,000 | $1,672 | $2,075 | Aug 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.